When you decide to sell your home, it’s important to consider how you can make that house and the included property more attractive to potential buyers and investors. Home staging is a simple process that can help your home’s interior and even patio areas look their best while real estate agents bring their clients to viewings and open houses.
The Cost of Real Estate Staging in Arizona
This may seem like a logical idea and a simple one at that, but it comes at a price(what doesn’t, these days?). The Scottsdale area home staging companies tend to range between $3,000 and $5,000 a month for a full staging. For those fees, your newly listed property will be filled with modern-looking furniture, artistic accessories, and classy art.
Limitations of Real Estate Staging
It’s important to remember that even the greatest staging company cannot and should not conceal the flaws of your home. The goal should always be to show a property in its best possible light and assist prospective buyers in imagining themselves in the space. Empty homes tend to feel cold and unwelcoming, while staged homes will help appeal to the emotional side of homebuyers.
Will Real Estate Staging Increase the Sell Price of an Arizona Home?
Simply put, not really. A very detailed 2012 study concluded that buyers do not make substantially different offers based on the presence of staging. However, calm paint colors accompanied by nice-looking staged furnishings will have an impact on how quickly the home sells. With staging’s appeal to the emotional side of real estate buyers, they will be more likely to send in a quick offer than take time deliberating.
Conclusion About Staging a Home
If you’re in a hurry to sell your home, staging might be worth the extra money. It can turn your real estate listing into an exciting showpiece that will have buyers antsy to get ahold of it. You can deduct the cost of staging from your taxes and move on with your life!
Tags: Jean Glass Real Estate Arizona Scottsdale Staging
No one can see into the future, however with the right factors considered, you can make an informed decision about buying or selling a home.
The economy in addition to the real estate industry’s forecasts always tend to be secondary considerations, since most buyers and sellers are motivated by family or career-related factors.
If you work from home, are retired, or for any other reason find your self with the luxury of choosing when you want to enter the real estate market, the following points are valuable considerations to make before entering into a real estate transaction.
Every local market is different, even Phoenix vs. Scottsdale can fluctuate in demand. price trend, etc!
Just because the national news or our President might report overall real estate going one direction or another, that doesn’t mean the same trend is happening in your neighborhood.
As a matter of fact, local real estate activity will often vary quite widely, even within a single county. One town may see record-breaking price surges, while another locale that’s 10 miles away has an overabundance of inventory.
Interest rates are somewhat volatile
It’s not uncommon for new buyers to get interested in the real estate market when they start hearing news about the Federal Reserve’s standard interest rates. The average buyer also assumes lower rates are better for buying, but it’s typically the opposite. You need to remember that prices are largely dependent on what an individual is willing to pay.
Seasonality is a big factor
Lately, Spring has been the biggest season for real estate transactions. Arizona buyers can picture themselves enjoying an outdoor pool, having barbecues, and hosting parties in a sleek modern floorplan. Real estate, despite it’s high pricetag, is largely an emotionally-driven purchase.
Looking back at the last few months, a clear pattern can be seen in home prices and sales volume. Here are some key bullet points from the data rolling in since the close of fiscal February 2016:
In February, new build condo, apartment and house sales rose 2% versus Jan., totaling 512,000 units nationwide
Compared to the year prior, February sales actually fell 6.1%
February 2016 is the 2nd consecutive year-over-year drop in modern home sales
Available inventory of modern houses on the market actually reached a high for recent years, up 17.7% from 1 year ago, but it still sits below the all-time average
Median home prices increased 3.9% from January to February, ending up just below $300,000
So what does this mean for the Arizona real estate market?
New and recent builds are shooting up in sales and demand, while older homes are selling less. It is a promising time for buyers and a potential warning sign to sellers and homebuilders. Available inventory of homes is projected to increase proportionate to buyers, leaving the power in the hands of those who are shopping for homes. We are currently at the highest inventory level of homes for sale since Oct 2009, but there is plenty of room to go until we hit the levels seen pre-2000. While prices are trending higher, there are less people buying them. The market will rebalance itself with lower priced homes in the coming months as sellers become more desperate to liquidate. This summer should be a hot time to buy!
Starting tomorrow it’s going to be 2016… can you believe it!?? For prospective homebuyers, you have a lot to be excited about. Several unique financial factors have all come together to make real estate purchases more attractive than they have been in years past. Some of the top reasons for Arizonians to make a real estate investment in the New Year include:
High Rents. Property owners are collecting unbelievably high rents throughout Phoenix, Scottsdale, Tucson, and any densely populated area of Arizona. Rents actually grew faster than home values in almost every major real estate market this year. Nearly 90% of property owners and managers raised their rent prices in 2015, with another 8% lift expected in early 2016.
Stable Home Prices. The real estate market in Arizona hasn’t “bubbled” but it has absolutely slowed down from the crazy growth we’ve seen over the last few years. Sellers now must compete for remaining able buyers who are still looking at property. Renters are paying more than ever, so they will actually come into the market to buy later than they used to – meaning supply will start to exceed demand.
Low Interest Rates. Even with the constant pressure on the Fed about when they will raise rates, current interest rates for real estate loans are sitting at historic low points, with average homebuyers getting approved for 30 years at 4%!
Low Down Payments. If you have good credit, you can get a mortgage from most major lenders with as little as 3% down. If your credit score is below 600, it is recommended that you find a cosigner whose credit history will allow you to still take advantage of the low down payment trend.
Cheap Mortgage Insurance Rates. Anyone who puts less than 20% down on a new home purchase is required to purchase mortgage insurance, but you have another option: Take out an FHA loan. Your government-provided funds will serve as a backup for loans with a down payment as low as 3.5% and/or a credit score or 580 or higher. FHA fees are lower than normal (actually below 1%), so your monthly payment won’t rise significantly.
Tax Breaks! New tax laws are biassed to favor property owners, so you will start to qualify for tons of savings at year end by purchasing a home in 2016. For example, if your home purchase is below $1m, you can actually deduct all the interest you pay on the mortgage from your taxable income. Even some miscellaneous home expenses can be deducted on your taxes!
Tags: Jean Glass, Scottsdale, Arizona, Real Estate Agent
Real estate in greater Phoenix currently has a positive outlook, with many homes increasing in value at par or even in excess of the national average. The current average listing price is $302,200 and the median selling price is $182,700.
Real Estate Listings in Phoenix
Phoenix’s Most Popular Communities
Real Estate Buyers in Phoenix
Positive Outlook and Strong Buying Power
The median household income in greater Phoenix Arizona is $41,200, slightly higher than the state average of $40,500. Owner-operated units are currently under state average value, indicating that the sweet spot (for investing) is presently in multi-unit rental properties. Phoenix is also a great place to live, so don’t be shy to settle down here either!