What repairs should be made to home before selling?

What repairs should be made to home before selling?

 

Wow, I have chosen a tough topic for my article, but a very important one that does address the question “what repairs should be made to home before selling?

 

Let us start with the assumption, all home owners that are considering selling want to maximize their profits.  How is this done?  Well it is done in several ways and those are things that need to be considered as well.  For example, in your opinion is the sale price the only indicator of how much money you will make?  I hope the answer was a resounding no!  Truth is a higher offer may not net you a better deal, and in the end how much money you net (money in pocket) is REALLY what counts!

 

Generally speaking when giving home values to home owners in the South Phoenix and Laveen area I will use recent home sales and even current competition to help determine value.  This article is really not meant to go into what is done to help determine value, but more so what repairs to be done to help value.  The values given will provide a low, high and of course an average/median price range.  Where in that range one falls really depends on condition of the home.  That is the purpose of this article, to help you the home owner/seller understand what potentially you could do to maximize your sales price or profit.

 

First things first, you must have a full understanding of what is going on in the local real estate market.  This goes beyond what a home’s value is, it is knowing the market trends.  Does the market benefit the buyer or seller?  If it benefits one or the other, how much does it benefit them?  As an example for most of us realtors, the 3 month inventory range is the middle point between the buyer and seller market.  It could be called a transitional market or balanced.  If inventory or turnover is below 3 months, then it is a seller market.  If the inventory or turnover is more than 3 months, it is more of a buyer market.  The further away from that 3 month point, the more it benefits one of the groups.  So the luxury home market for example has 17 months of inventory at this point in the Phoenix area, and this REALLY benefits buyers.  Buyers have a large inventory to choose from and as such can be picky, often get a home under asking price, and choose the best home at the best price.  Make sense?  On the other side, if there is say under 2 months inventory, then homes are selling more quickly and seller has upper hand.  Wow, if there were under 1 month’s inventory, you’d maybe see multiple offers and home selling in hours or days.

 

Second thing you need to know is what repairs to make to maximize your sales price.  This could very well be specific to different areas of town, but here in the South Phoenix and Laveen real estate market I can say that generally you want to make repairs that will help the home show better.  Notice that I did not say make improvements.  Improvements may help get you more money, but will you get a dollar for dollar return on your investment.  This does have to be looked at on a case by case basis.  I can say in general, just make sure that repairs done to the home are for those that will make home look better.  As examples, I would recommend painting a home but not putting in a new kitchen.  I would recommend a professional cleaning to make sure it shows well, but I would not recommend adding granite counters.  In short, really make cosmetic repairs to home that are not costly, will make the home look better and show at its best and that will likely get you a higher sale price.

I have worked with many home sellers in the Laveen and South Phoenix area, as I’m an area realtor and specialist.  There have been appointments I’ve gone to and listings I have taken where the seller was recommended to do NOTHING in preparation for the home going on market.  See, some home owners have done an excellent job of maintaining the home and making improvements.  Again, depending on condition the home value will fall within a range, and if home owners are happy with that range, then nothing needs to be done!

 

I’ve also gone on appointments and taken listings that I have made recommendations to the home owners for repairs to be made.  In those situations the home owner would be able to make a small investment in making some repairs, minor improvements to the home, in order to get a better offer on their home.  Again, most repairs I have suggested will depend on the kind of market we are currently in and if the home owner will get a dollar for dollar or better return on their repair.  I have been an active south phoenix and laveen realtor since 2004, and as such I know what can make a difference in the sales price.

 

Hope this article has helped you a bit in deciding which repairs should be made before selling your South Phoenix or Laveen home.  While there are always variables to consider, a good rule of thumb is to make repairs with how the home looks.  Now, I also assume that if you have broken plumbing, leaky toilet, electrical that does not work and such, that you would get those fixed anyway as you are living in the house, right?  You don’t live in the dark or walk through puddle to get to your room right?

If you have any questions on selling your home, and helping maximize your sales price here in the area of South Phoenix and Laveen give me a call.  I am after all in the business, and I would like to earn yours.

Is Selling My Home the Right Choice?

Is Selling My Home the Right Choice?

 

I have seen and heard some folks ask, “Is selling my home the right choice?”

Well this is really a loaded question, and one that can only be answered by the home owner.  My experience is that home owners sell for a variety of reasons.  If you are currently considering selling your home, you need to dig deep and find out why is it that you are considering the sale.  If you ask yourself some questions you may find out the answers, and can then determine if selling is the right choice.

 

For example, some questions to ask:

Does the home give you joy?  Does being a home owner in that particular home give you a sense of pride?  Sometimes you may find that you just don’t like the house.  Maybe the home is much more than you ever wanted to take on in term of maintenance or even updating.  I continually think that life is short, we must take the time to really enjoy it and get the most out of it.  If something is not giving you joy, maybe you need to consider selling.  If the home is giving you joy, then you now there really is no reason to consider sale.

 

Do you like the area you live?  You may love the home you’re in, but absolutely hate the area you live.  Ever have a home that is right next the worst neighbor ever.  Maybe it is next to a frat house that has loud parties EVERY night.  Maybe it is next to someone that is always working on their cars, revving engines and front drive looks like an industrial zone and not a housing community.  You may just not like the neighborhood or changes that often happen over time in different areas.  If you like it, then there really is no reason to consider a sale.  If you don’t like area, ask yourself it life would be better living somewhere else.  Life is short, I think you deserve to live where you want.

 

If you have kids, do you like the schools and the school system?  I’ve often seen home buyers base home buying decisions based on schools and their rating in an area.  You may be a home owner but only recently have had the need to send a kid to school.  Maybe you don’t like the school system, or have a preference to another school and district.  Again, life is short, make choices that will help you live the life you want.  You may be able to enroll your kid in the school of your choice, but what if the distance makes it time and cost prohibitive.  Again, make the choice to lead the life you want.

 

When it comes down to it the choice of whether selling a home is always that of the home owner.  If considering selling your home, then you need to make sure you understand why you’re considering.  If the reasoning makes sense, then you have answered your question and made a choice.

Buying A Home in Laveen or South Phoenix

By David Baker

Thinking about buying a home in Laveen or South Phoenix?  Well, this could be the start of the right time for you to begin your Laveen or South Phoenix home search.  Let me share with you why.

1st reason it is a good time to be buying a home in Laveen or South Phoenix is that inventory levels are going up.  Yes, increased inventory means more selection for you home buyers ready to start looking.  It also means that with more homes on the market, you likely will not have to compete with other buyers or as many other buyers for the same Laveen or South Phoenix home.  For most of 2013 buying a home in Laveen or South Phoenix could prove challenging because of the low inventory and amount of competition for the homes.  It was a common occurrence to have multiple offers on one property, with most properties being sold over ask price and for cash buyers.  Times are changing.

2nd reason it is a good time to be buying a home in Laveen or South Phoenix is that interest rates are still great!!  While we did experience some really incredible interest rates in 2013, 2014 is starting the year with great rates as well.  Not sure many buyers realize, but you could get an interest almost half of what interest rates where back in 2007.  So take advantage of your purchase power right now, and begin your  home search today.

3rd reason it is a good time to be buying a home in Laveen or South Phoenix is seller contributions to closing costs.  In most of 2013, because of the low inventory and high competition concessions to buyers where all but non-existant.  With inventory levels rising buyers now can likely get concessions from sellers toward their closing costs.  Why is this good?  In short, it will save you money you’d have to pay in order to secure your home loan, and it will be paid by the seller if they agree to concessions.  Again, chances for concessions are better because inventory is up, and sellers now will begin to compete for the buyers.

Looking for a good agent to help you in buying a home in Laveen or South Phoenix?

Homes for Sale in Phoenix 85041

By David Baker

Homes for sale in Phoenix 85041.  I’ve been working both the South Phoenix and Laveen areas for going on 10 years, and love to be able to help both home buyers and sellers.  For buyers, the most important starting point for the search, is finding  available homes for sale in  Phoenix 85041.

 

For Buyers,  recent surveys show that 97 percent  begin their search online.  Your desire to start your search online is why I’ve made available  all the homes for sale in Phoenix 85041.  When you find a home on line though, you’ll need to use a realtor to be able to view home, find comparable homes and to make a educated and wise offer, and of course to help you navigate the purchase of your home.

For sellers of homes  in the Phoenix 85041 area, what would you like most?  First thing most sellers want is a buyer who is qualified, a buyer that is willing and able to buy their homse in Phoenix 85041.  Let us not forget that most sellers also want to sell their home at the best price for their needs.  In order to do this you’ll want to make sure and get the current market value for your home.  You can have an area realtor help you find that value.

There are many realtors working in the South Phoenix and Laveen market, so you have many choices of realtors.  With many choices though comes hard decisions, such as selecting an agent that can truly benefit you the most.  Here is a statistic for you, 1/4 (11,134) of the license agents in Arizona have sold more than 3 homes in a year.  Of those agents 11,134,  less than 1500 agents in the state of Arizona have sold more than 10 homes.  So you have to make sure and do your home work to select a realtor in the South Phoenix and Laveen area that has enough experience to truly know the market, and have the skill to best market and negotiate the sale of your home.

 

I am a realtor specializing in the South Phoenix and Laveen area.  I have also sold over 50 homes a year in the last several years.  You can view some past client testimonials to see if you’d like to work with this realtor to help sell or buy in South Phoenix or Laveen.

Homes for sale in Phoenix 85041

New FHA Change coming to Laveen Area and Maricopa County

By David Baker

Change to financing homes in Maricopa County, including Laveen is coming for buyers using an FHA loan.  This will be the second change this year for the FHA which affects buyers.

The first FHA change of the year came in April 2013.  The FHA change came in the form of the mortgage insurance premium no longer falling off after 78% loan to value is attained.  Prior to April, once your home value reached that 78% of loan to value, it would fall off the loan.  The MIP for a home loan of about $193,000 can be about $1700 a year or $141 a month. (This is example, and not exact).  So if your loan now does not have the MIP drop off at reaching 78%, and loan is kept for thirty years, one could pay easily over $20,000 to MIP.

The new change now coming takes affect starting January 1st, 2014.  The new FHA loan limit in Maricopa County is being reduced to $271,050.  This includes a suburbs and cities, including South Phoenix and Laveen.  To most in this South Phoenix and Laveen area, this change will not have a major impact, as our area average home price in Laveen stands at $190,000.  To other area in Maricopa County, this could have an effect in which loan type a buyer selects.

Laveen homes for sale

South Phoenix Homes for sale

Sellers Tips for South Mountain or Laveen Home Owners

By David Baker – Things sellers should consider if sellling in South Phoenix, South Mountain or Laveen.

Price

Likely the single biggest mistake home sellers in our area make, is to set a too high list price. A list price suited both to the home and to the market conditions will likely attract more buyers, increasing the likelihood that you’ll get a higher price in the end.

Staging the Home

Sellers houses that are not at their best are another source of lost profit. Act on good advice you are given about cosmetic changes and minor repairs.  Small cosmetic changes that are cost effective can make a large impact on first impressions from buyers.

A sellers home that shows clean, tidy and sweet-smelling goes without saying.

  • Sellers should allow for viewing hours for the greatest accessibility to buyers. In a competitive market, people can easily go elsewhere and fall in love with another house.
  • Home sellers should not be home during the showings. Prospective buyers feel more comfortable raising concerns and poking about when the current owners are not present.
  • Home sellers should remove as many personal items as possible. The things that mark the house as yours interfere with the buyers’ abilities to imagine it as theirs.

 

Other Considerations

Sellers should sell before you buying to avoid loss of negotiating position at both ends. Plan for the move early, and pack as much as you can as soon as possible.

To find out the value of your Laveen or South Phoenix area home request it for FREE here.

Phoenix Real Estate Values – Monthly Blog and Updates on Phoenix Real Estate Values

By David Baker

Phoenix Real Estate Values – October 16, 2013

Here we are October 2013, real estate values and the market have begun to shift.  For many home buyers and sellers in the Phoenix Real Estate market, you are going to start seeing these changes.  Buyers, this change will be a welcome change, as we now are in what we call a buyer’s market.  What does this mean?

Phoenix real estate is now in a buyer’s market.  My definition, less than 25% of the homes currently on the market get absorbed on a monthly basis.  Others may define a buyer’s market as inventory of over 3 month’s time, which of course we are at; currently we stand at 3.64 months inventory.  From my tracking of the market, this appears to be growing and who knows where it will stop.  I’ve noticed growth of inventory for a while, but more since July.  The Phoenix MLS has been adding a minimum of 500 new listings to the already existing inventory every 7 days.  Since this April, the number of active properties on the MLS has increased by 7000 units up to 22,000.  Good news for buyers as the days of competing with multiple offers has all but disappeared (depending on price range).  You may start seeing more options as well.

Sellers.  With the shift in the market, your strategy for selling will need to be well thought out.  Be sure to consider what is going on in the Real Estate market, as well as considering your home value and list price.

 

So is it a good time to sell your home?  Values are stable currently, and that is after seeing a pretty quick and significant increase in values this year to date alone.  To be sure please request a private and confidential Fair Market Evaluation. (It’s free).

Visit http://www.MyPhxHomeValue.com to request your free fair market evaluation.

 

See below, YUP, over 22,000 listing and counting!!!

Active on MLS

Screen Shot of currently active properties on Arizona MLS

It is HOT!!! What to do in and Around Laveen

Laveen AZ – One of the things my kids and I enjoy doing in the summer is visiting our local Humane Society. Local chapter is the Nina Mason Campus for Compassion, located just east of Dobbins and 19th avenue intersection. This beautifully designed campus offers many things, including air conditioned viewing areas for all pets, which for the summer is critical. You have the cat viewing area, which showcases several cats ready for adoption. While viewing them is easy and one can clearly find a favorite, you can also decide to go into one of the pet visiting areas to further acquaint yourself to the cat/s. Also there is a neat little area for the small animals like rabbits, guineas, rodents…….etc. Lastly, there are the dog kennels, through which you can walk and visit the several dogs on site. One can spend plenty of time visiting with the many animals, and hopefully you’ll make such good friends with the locals, you may take someone home. Adoption process is pretty easy and can be seen at http://www.azhumane.org/adopt-a-pet/how-it-works/ . Fees vary, but are very affordable.

It is a great way to spend a hot summer day in the Laveen area. Beyond that, you may find a treasure you can take home, and better yet offer someone a home.

Market Value of Property in South Phoenix and Laveen – April 22 2013

Welcome to Market Values in South Phoenix and Laveen for the later part of the Month of April 2013. The values in the South Phoenix and Laveen area could be said to be steady, but they have indeed been rising over the last year. In fact the area has seen as high as a 42.3% increase in values over the last 12 months.

Currently the Laveen Arizona 85339 area has 1.3 month inventory of homes, making this a seller’s market. 94 Active homes are currently on the market in Laveen Az 85339, with 225 additional homes under contract and in some stage of the closing process. The Laveen Az 85339 area is seeing about 72 closings in the last 30 days and averaging about $164,000 sales price.

The rest of South Phoenix market including zips 85041 and 85042 are averaging about less than 2 months inventory as well. Both areas are also seeing monthly closings of about 75 and 38 respectively. Average sales price in the South Phoenix 85041 zip is about $126,000. Average sales price in the South Phoenix zip of 85042 is about $168,000.

If you need help buying or selling please let me know. You can request information at this site, or call at 602.373.6345.

Laveen AZ Home Values – April 2013

Laveen Az home values continue to steadily rise. As a home buyer or home seller condidering the area of Laveen Az, it is important to know what is going on in the real estate market. When selling your home you want maximize your sales price and make sure not to leave money on the table. Same goes with a buyer, generally looking for bargains in and around their search area to make sure the get a good deal on their home purchase.

Here are a couple of things to give both the home buyer and home seller in Laveen Az an idea of where the market stands today. We are currently in a sellers market, which means there is a lower inventory of homes and they tend to sell quicker. Home generally are selling within days if they are priced at market value. The Laveen area, that is zip code 85339 currently only has about a 1.05 month inventory of homes. Since January of 2013 we have also seen some fluctuation of home values, but for the most part the zip code has seen values average between $140,000 and $163,000. keep in mind that this is lumping all homes together, so if you are looking to sell your home be sure to get comparables specific to your home – not the entire zip.

To request a home valuation visit me at http://www.MyPhxHomeValue.com and input your information.

Thanks,