Scottsdale Real Estate Blog - Home Selling

Sellers - Read This If You're Serious About Selling Your Home

2016 Update: This was written in 2009 but most of it is true today.  Our market is better in 2016 than it was in 2009, so that's not as relevant, but the truth is, homes that aren't priced correctly for their condition can still sit on the market for a long time. Some of the items below can also thwart a sale.

I showed Scottsdale homes for sale over the weekend and also showed homes in Cave Creek. The first home was vacant new construction and the agent was holding an open house. She stayed out of our way and allowed me to show the home to my buyers, who know me and know I'm looking out for their best interests. One of these places was a nice home on a busy street.

The 2nd home showing was a whole different story. I was told the seller would be…

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Average Earnest Money Amount

There are some great tools for webmasters to check what web surfers are really searching for.  With the busy spring season for Scottsdale real estate ahead of us, it seems like buyers and sellers are wondering what constitutes a low earnest money amount or if there is an average in the Valley area.

Because the Greater Phoenix area is so large there are really no earnest money rules.  Scottsdale real estate agents still write contracts with earnest money as low as $1,000.  This is usually for purchases in the $100,000's.  Once a buyer purchases a more expensive property, the expected earnest money is higher.

When I lived in Illinois, I was surprised to find out that the average Chicago earnest money amount was around ten percent of the contract…

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Why Agents Need Advance Notice to Set Showing Appointments

Real estate agents know that it can be fun and exciting viewing potential homes that you might be interested in purchasing. When you find a home online, in an automated e-mail, or driving down the street, you might want to see it right now. However, even if it is a vacant home, we still need to make an appointment with the listing office.

If you want to view several Scottsdale homes for sale, we need time to set up a logical route, put a viewing time on each one and then call each individual listing office. We need to be in our offices to print up the listing sheets before we can even work on setting up the appointments. Although we can use our smart phone, tablet or laptop on the road if necessary, it isn't that easy if there are multiple properties…

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Keep Trying to Find That Sweet Spot When Selling Your Scottsdale Home

UPDATE - 11/2/2017 - This is an older post that was made in a declining market.  The market is definitely better today but we still get sellers that want to list their homes higher than market value.  Read the rest of this post to see why that's not a good idea. 

A seller gets the most interest in the first week or two of listing a property.  If they start out too high, buyers lose interest and move on to other Scottsdale homes for sale.  That first wave of buyers might have purchased already by the time sellers price their home correctly, so their final reduction won't hit as large of an audience.  I always remind sellers that unless they're lucky enough to find a cash buyer that falls in love with their home, it will have to appraise for any buyer…

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Is Price Really King?

UPDATE 10/2017:  This is an older blog post written at the time prices were just starting to decline.  The main idea of this still holds true in any market.  I've included an updated video.

In reading other blogs and news items I am "hearing" other agents state that price is the most important thing to get a property sold in today's ever-declining Buyer's Market.  And I agree.

Price always was king, even in the booming Seller's Market we experienced with Scottsdale real estate.  There were still properties during that time that did not sell until they reduced price.  There were still some long market times with properties that the sellers thought they could ask whatever they wanted and someone would make an offer.  Houses were selling all…

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Smoking in Your Home Can Derail Your Sale

It doesn't happen often lately, but once in a while, I will show a home in Scottsdale where the air is very heavy with old, rancid smelling cigarette smoke. It really hits you when you walk in the door, and personally, I can't wait to get out of those homes, and in most cases my buyers feel the same. I've had buyers that have been so turned off by this that they won't even consider the home, even though it might be very nice and otherwise fit them.

What most smokers don't realize is that the smoke stays with anyone that enters their home.  The smell gets absorbed by people's hair and clothing.  So a buyer can remember any heavy smells that stick with them and will cross that house off their list.

I always give feedback (when requested) regarding…

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Will We Hit Bottom in 2011?

I just read an article in Inman News about a report put out by Altos Research.  Altos Research is a real estate data company and their prediction is that we should hit bottom in real estate pricing in 2011.

They feel we'll see our normal surge in the upcoming Spring selling season, but it won't mean prices will necessarily escalate.  In most areas the Valley, prices have been declining since 2005.  The spike in sales that usually occurs during our best months does not necessarily bring about price increases, just a clearing of inventory.

We will still have a glut of foreclosures and short sales

In my opinion, until the amount of distressed properties slows down there is going to be more inventory than available buyers.  Distressed properties…

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Reviewing 2010 Real Estate

It's been an interesting year and I'm looking forward to year-end Scottsdale real estate sales statistics this year more than any other.  We keep losing agents that can no longer earn a living selling real estate.  However, 2010 has been one of my best years.  It hasn't been easy and I've had to make some changes, but I've done well in a challenging market.

We Moved to a New Home

I'm glad I had my own home for sale as it helps me explain the market to my other sellers.  I sold my Scottsdale home for less than what we paid for it in 2003.  Add the new windows, two new bathrooms, remodeled family room, new carpet, hardwood floors, interior & exterior paint, etc., and we lost a lot of money.

However, we had happy times in that home for seven years…

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Search Tools for Scottsdale Real Estate

I receive many registrations daily from people who have found my website by using search terms such as Scottsdale real estate or Cave Creek homes, for example.  Sometimes, I wonder how some people find my site since their searches are not in areas I work in, but they found my website using some kind of search terms.

The visitors that register to use my MLS search (or IDX) are free to search in our very large multiple listing service that covers the Greater Phoenix area.  You can create multiple searches if you'd like and you can save them and get listings e-mailed to you.

I don't service all of the areas that are in my MLS.  I only work in a specific area of Maricopa communities.  Those are my main areas but I will also go to Fountain Hills and…

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Home Sellers - There Are Different Kinds of Feedback

Although I consider myself a listing agent, I also enjoy working with buyers.  Whenever I show a Scottsdale home for sale, if I am sent a feedback request via e-mail, I fill it out as helpfully as I can.  I don't like discussing price unless it is really priced too high.  And I have to be careful, especially if I think my buyers might be interested in the property.

And that's why many agents do not provide feedback.  Below are excuses I've heard:

• Some agents feel they're doing the listing agent's job by providing feedback.  They feel the listing agent should have informed the seller of the correct price and should have helped the seller stage the home properly.  I do not buy this as a valid excuse.  Sometimes a seller needs to hear it from more…

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