The Importance of Appraisals in Phoenix Real Estate

Do you know what appraisals are and why they're so important? Appraisals have a significant impact on any home transaction that involves financing.

There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

What are appraisals and why are they important? An appraisal is a third-party opinion of the value of a home. There are two different ways the appraisal process works.

First, if you are listing your home, you can order an independent third-party appraisal before listing to get an idea of the value of your home and to double check with your agent.

If you get an appraisal during the selling process, the appraisal comes after the inspection period to make sure the value of the home meets or exceeds what the bank is going to loan for the home purchase.

Appraisals are ordered by the bank lending the money.

Appraisals are ordered by the bank lending the money, and it will randomly go out to many appraisal companies to ensure that there is no collusion or fraud involved. An appraiser will come out to your home, walk around it, and measure it to give you their opinion of price.

Appraisals are so important to the transaction because if the appraisal comes in below the agreed-upon price in the contract, the buyer might not be able to secure the loan, or they may have to bring extra money to the closing.

For sellers, appraisals are important because they can cause them to lose out on a transaction that's 30 to 45 days in. They may have to start all the way over or lower the purchase price.

These are all reasons why it's critical to have a Realtor you trust guide you through the process.

If you have any questions about appraisals or the Phoenix real estate market, give me a call or send me an email. I'd be happy to help.

Don’t Leave Money on the Table When Selling in Phoenix

There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today I have advice for all of my home sellers in Phoenix. You don’t need to spend thousands and thousands of dollars trying to completely remodel your kitchen or bathroom before you sell your home. There are many smaller, more manageable projects that you can try your hand at.

For example, repainting and installing new carpet are always good bets. Getting your carpet professionally cleaned is also an option. Both of these fixes have high returns, and they both have minimal costs.

Landscaping and curb appeal also matter. You need to form a good impression with a buyer, so be sure to repaint your front door, trim your hedges, mow your lawn, and perhaps plant some new flowers. You need to make buyers curious enough on the outside of your home to want to wander inside.

When a buyer walks through your front door, you’ll want to stage your home in a way that’s appealing and inviting to them. Do your best to clear off your counters and your closets. You would be amazed at how much bigger your home feels. Staged homes often sell for much more money, and my stager can come inside your property to give you some advice on how to showcase your home.

You should also clear out your schedule for the first 21 days of the sale. This time period is crucial, and if you can’t make time to show your home, then it may sit on the market longer and not sell for as much money. Arrange your schedule so that you can be flexible and allow as many showings as possible during this time frame.

If you want more tips on how you can maximize your sale price, please don’t hesitate to ask me. I look forward to speaking with you!

What Do Current Phoenix Market Conditions Mean for You?

There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today, I want to share a few market statistics with you to give you a good idea of where we're at.

If you're in the East Valley, $350,000 is your key number. Homes listed under this are getting multiple offers and selling quickly.

Maricopa County as a whole is still a pretty balanced market. We’re at 4.1 months of inventory, which means it’s a touch of a buyer’s market. However, in some pockets of the market we’re seeing inventory as low as 1.9 months, which means homes are flying off the shelf in those areas!

If you’re in the West Valley, the magic number for you is $250,000. Any home under that price is in high demand! Homes that fall under that market are selling incredibly fast and for top dollar, so now is the time to list if you’ve been on the fence and have a property in that market range!

If you would like a more detailed analysis of our current market, please don’t hesitate to reach out to me. I’m always available to help you!