Silver Alliance Realty: January 2018

Thursday, January 25, 2018

Five Reasons to Get a Professional’s Advice When Selling Your Home

If you’re thinking of placing your home on the market and selling it yourself to save money, you could be setting yourself up for frustration and financial loss. Here are some compelling reasons why DIY is best left to home improvements when it’s time to sell your house:

1. Pricing Your House Correctly

One of the most important real estate listing strategies is pricing your home according to an accurate

comparative market analysis or a CMA. Professional listing agents know which recently sold homes to include in your CMA and which ones to exclude. They have access to the freshest data and the insight to select the variables most relevant to your property.

2. Getting More Qualified Customers to View Your Property

Getting foot traffic—that’s what’s important in selling your home. When you have a higher quantity of prequalified buyers showing up at your open house and buyers’ agents showing their clients your property, you’ll have a higher chance of entertaining competitive bids.

3. Choosing the Best Offer

When those offers do come in, do you know which one deserves top ranking? Are you skilled in working with agents to motivate buyers to make a competitive deal? Some offers look brilliant at face value when the true “contender” might not measure up to the untrained eye. When you contract with a professional listing agent, you’ve got experience on your side.

4. Facing the Challenges of Closing

You’ve accepted an offer and are in the inspection process. Your buyer has come to you with requests for repairs. When do you push back, and when do you comply? Your real estate professional will work with their counterpart to make sure the deal gets done to everyone’s satisfaction and without robbing you of your potential profits at closing time.

5. Selling Your House for the Highest Price

The 2016 Profile of Home Buyers and Sellers, a study done by the National Association of Realtors, found that sellers who used a real estate agent sold their homes on average at $60,000 higher than owners who didn’t have the help of a professional agent. That’s a lot of money, especially when you consider the effort and resources a listing agent saves homeowners when they represent your listing.

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Silver Alliance Realty is here to help you with all your real estate needs.
We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

www.SilverAllianceRealtyAZ.com

www.SilverAllianceAZHomeSearch.com

Monday, January 8, 2018

Month-Over-Month Home Sales Increase Despite Low Supply

Unemployment levels are down and wages are slowly starting to rise, which is making home ownership an affordable reality for more potential buyers. But the ongoing housing inventory shortage is leading to higher home prices, making it difficult for those potential buyers to afford their dream homes.

Low inventory isn’t just leading to an increase in home prices, though, it’s also putting downward pressure on existing-home sales. Supply shortages resulted in a decline in year-over-year closings for the second straight month.

Existing-home sales reached 5.51 million in October, down 0.9 percent from a year ago. However, this is the strongest month-over-month sales pace since June. What’s more, all four regions of the country recorded increases in sales activity in October.

Fewer For Sale Signs

By the end of October, therewere 1.8 million existing homes on the market; this is a drop of 3.2 percent from a month ago and a staggering 10.4 percent from a year ago. For 29 months in a row, inventory levels have fallen year over year. At the current sales pace, unsold inventory would supply the housing market for a meager 3.9 months. In comparison, a year ago, unsold inventory represented a 4.4-month supply.

Fast Sales

An average property spent 34 days on the market in October. This time is unchanged from a month ago and seven days less than October 2016. Of all the homes sold in October, 47 percent were sold in less than a month. In areas with a healthy job market, homes were being sold at an even quicker pace. And all listings, according to Lawrence Yun, chief economist for National Association of Realtors, “continue to go under contract typically a week faster than a year ago. With the seasonal decline in inventory beginning to occur in most markets, prospective buyers will likely continue to see competitive conditions throughout the winter.”

Regional Home Sales

Northeast - Existing-home sales annual rate of 740,000; an increase of 4.2 percent from September 2017 and unchanged from October 2016.

Midwest - Existing-home sales annual rate of 1.31 million; a slight increase of 0.8 percent from September 2017 and a decrease of 1.5 percent from October 2016.

South - Existing-home sales annual rate of 2.16 million; an increase of 1.9 percent from September 2017 and a decrease of 1.8 percent from October 2016.

West - Existing-home sales annual rate of 1.27 million; an increase of 2.4 percent from September 2017 and 0.8 percent from October 2016.