The Arizona Real Estate market has been one of the hardest hit markets during the recession. Arizona is at the 2nd highest foreclosure rate in the country and sales prices have dropped considerably over the past 12 months. These conditions have obviously made it difficult for some to sell their home, because Arizona home sellers have been competing against all the vacant new construction and rentals. However, there could be other reasons why your Arizona home is not selling that you may have underestimated:
1. Your home is overpriced: You have heard this a million times: don’t overprice your home! This is the most common reason why homes don’t sell. Buyers determine the market value of the home and you ultimately need to compete with what is available amongst homes similar to yours—not what you think it is worth. Arizona real estate agents and buyers usually will see your listing within the first 30 days. If it is overpriced, interest in your home will wane and you have already turned off potential buyers who might have qualified at a more reasonable price. The longer your house stays on the market, people then begin to question if there are more serious reasons why the house is not selling. If you can’t price your home to sell, then don’t put your house on the market.
2. Your house needs a makeover: Small cosmetic changes can make a world of difference when trying to sell a home. Make sure floors and walls are clean; eliminate any clutter and pack away those personal photographs you have scattered around the house—potential buyers want to see themselves living in the home. If you have too much furniture, put most of it in storage. A small amount of furniture gives a potential buyer a starting point for their mental decoration. Even little things such as making sure the house smells nice, putting away that dirty underwear and cleaning the bathtub can influence a home buyer’s decision. Paint is also a great way to spruce up a home and is probably the best return on your investment. Once you have made changes, make sure your photos show how great the house looks. If your online photos look boring, it won’t matter how wonderful the house looks in person.
3. Bad location: Location rules in Arizona real estate, and unfortunately, if you are near a busy road, live next to filthy neighbors, have noise pollution or a higher crime rate, there isn’t much you can do except accentuate the positive aspects of the home, reduce your asking price, and offer attractive incentives. Most importantly, never again buy a house in an undesirable location!
4. Poor marketing or a poor agent: The best real estate agent you can have is one who will not allow you to overprice your home, who will have a detailed marketing plan, screens qualified buyers and is responsive to interest from other agents. Arizona real estate agent Jennifer Wehner uses a multilevel marketing plan which includes internet marketing, open houses, flyer distribution, listings on her website as well as with the Arizona MLS, and networking with other agents. “I try to make the real estate process as simplified and painless as possible” states Wehner. “My goal is not only to get a home sold, but to make sure all parties are completely satisfied so they will want to tell others about their positive experience.” If you don’t have an agent that is working for you and with you, then it’s time to get a new agent.
Jennifer Wehner is an Arizona Real Estate Broker specializing in buying and selling homes in the Scottsdale, Paradise Valley, Cave Creek, Carefree, Phoenix surrounding areas. For more information, visit: http://www.PrimeAZRealEstate.com or call Jen direct at 480-748-6925
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