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Top 10 Tips to Selling Faster in Phoenix

It’s only natural to want to sell a property as quickly as possible. Whether you’re flipping a house or are selling the place you’ve lived in for years, finding and securing a buyer quickly allows you to move on faster and not have to wait for a big payoff.

Visit any bookstore or do a quick Google search, and there’s tons of literature on the art of selling property. However, a lot of it is full of vague information and tedious steps that don’t help you sell quickly. While you don’t want to cut out necessary steps, there are measures you can take to sell quickly and smoothly.

Follow these top 10 tips to selling faster in Phoenix, and you’ll be signing over your property in no time!

1. Make Sure All Maintenance & Improvements Are Complete

A lot of people make the grave mistake of listing the property prior to all renovations, maintenance projects and landscaping being completed. While it can seem like a time saver to list the property when it’s almost completed, doing so often boils down to some wishful thinking and a misunderstanding of how long these projects can actually take. Showing the property before it’s finished (and this also means being thoroughly cleaned inside and out) can also lead to lower bids being offered.

2. Take Quality Photos

Having great photos of your property is among one of the most important things when it comes to selling, because these are what actually draw potential buyers to the property. While you don’t necessarily need to hire a professional for this, all of the photos should be high resolution and well lit. Make sure there are no mop buckets or cleaning products left around, and if there is furniture, it should be clean and well staged.

3. Make Sure the Price is Right

It’s a good idea to discuss what the price should be with an experienced real estate agent, or if you’re selling on your own (not necessarily the fastest way to sell, but still doable), do your research on what similar properties in the area have sold for. You don’t want to be overpriced, but you don’t want to undersell either. Buyers will be quickly attracted to a property that is reasonably priced and fits what they expect to pay in the area.

4. List on MLS

Your local Multiple Listing Service or MLS is your best bet to sell the property quickly. This will give the property more exposure, and it can easily be done through a broker or real estate agent who works in the area.

5. Read the Market

Once your property listing is up and running, it is important to pay attention to how it performs early on. If you’re not getting as much interest as you’d like, it could be because of something you can easily fix (like getting better photos or supplying more information). Talk to your agent about how things are going on the buying side of things, and see if there are any comments coming through that you can use to your advantage.

6. Be Smart About Lowering the Price

Going along with the above, sometimes one of the adjustments you’ll have to make is lowering the price. However, a dramatic drop in price can look bad, and too many price reductions can also turn buyers away. If you’re going to lower the price, it should only be done to meet market standards and should be done as sparingly as possible. You can discuss what the best strategy is here with your real estate agent.

7. Only Accept Offers with Lender Approval

When you do start getting offers, you should only look at ones that come with an approval letter from the buyer’s lender. The last thing you want to do is accept a bid quickly only to find that the buyer doesn’t actually have the funds to back it up, as this can end up costing you time and money.

8. Go with the Best Offer

Contrary to popular belief, the best offer is not necessarily the one that offers the most money. Instead, it is the one with a responsible buyer who will close on time and is financially qualified. They already have lender approval, and they are prepared with all the documentation they need. Oftentimes, the first offer you receive is the best one, but it is still important to review these qualities in each offer you are considering.

9. Be Prepared for the Inspection

Most buyers won’t close without an inspection being completed, and in many cases they will have specific details they want looked at (like the foundation, water heater, electric outlets, etc.) to make sure the property is up to code and safe as well as valuable. Be prepared for this ahead of time so you aren’t caught off guard.

10. Complete the Appraisal

The final step is letting your property be appraised. This process can go faster if you have gotten a previous appraisal report that you can provide a copy of, as it will help the current appraiser do their job more efficiently (and better understand your pricing).

Top 5 Factors Driving the Real Estate Investment Market in Arizona

Arizona is , without a doubt, is one of the biggest and most popular states in the country. The capital city, Phoenix, presents a number of appealing factors which help to make it one of the great cities to live and invest in. In fact, it offers something for everyone. The state of Arizona has modern recreational entertainment, dining and shopping facilities, great weather and interesting cultural attractions.

In recent years, the real estate market in Arizona has continued to grow and thrive. In addition to other pull factors, this area of the US offers buyers a wide array of properties to choose from, including patio homes, condominiums, twin homes, townhomes and family residences. Here, learn more about the top five factors that are helping to drive the Arizona real estate market forward.

1. Economic Growth

The economy in the state has kept gaining momentum in the past few years, which has had a direct impact on the real estate market as a whole. There has been quite a bit of growth in the existing industries, along with more startup businesses moving into the area. A number of new companies have also opened new branches, offices or even transferred their headquarters to the state, due to the friendly business environment.

The result has been an increase in job opportunities, improved standards of living, higher income and falling levels of unemployment. For example, Phoenix has several employment opportunities available in the healthcare, finance and retail sectors. This growing economic growth in the state has helped attract more people to move to the area, resulting in an increase in the demand for residential and commercial properties. Experts have estimated that Arizona is going to have sustained economic growth throughout 2018.

2. Changing Demographics

In the previous years, the population in Arizona has grown and changed significantly. Other demographics in the state have also changed, including migration patterns, economic status, age and education level. The increase in the population in the state has helped to stimulate the demand for more housing units. A large number of people have employment, which means they are able to buy or lease properties. Age has also helped to diversify the real estate market as millennials, baby boomers and Generation X will keep the industry healthy.

This growth in population has helped to increase the demand for other services and goods, too. As a result, there’s a greater need for all types of properties, including office spaces, restaurants, hospitals and apartments. With a growing number of people, investors are finding this a promising area to inject more money into the real estate market.

3. Appealing Interest Rates

The interest rates on property loans play a huge role in the overall real estate market. This is because most people prefer to have a mortgage payment plan. A low interest rate means a lower mortgage payment and a higher demand for real estate in the area.

The mortgage interest rates in Arizona are low, which makes it appealing for people to buy, rather than rent. Also, buyers can expect to see under four percent interest on various fixed loans. Hard money lenders have also helped to boost the Phoenix real estate market. These private lenders have made it simple to get fast hard money loans.

4. Competitive Pricing and Affordability

While Arizona is listed as being one of the top five metro regions in the U.S., the property prices are still affordable. In fact, the average cost of a home in Phoenix is around $255,000. As a result, many people find it more affordable to live in this state. In addition to the property prices, Arizona cost of living is lower compared to other larger states. This means that you will spend less on education, transportation, healthcare, gas, and food. The friendly living environment has helped to boost the real estate industry in this area.

5. Lifestyle

There are varying climates in the state of Arizona that range from warmer weather in Tucson and Phoenix to cooler temperatures in Flagstaff and Prescott. As a result, it’s a suitable location for many lifestyles. The region is home to some of the very best golf courses, local events and hiking trails in the United States. While the social amenities are amazing, the state of Arizona is also much safer than other parts of the country.

When it comes to where you want to live, work and play, there’s no question that Arizona should be on your list. In addition to having a booming economy, you can easily invest in real estate here. This state has grown in recent years, and if the experts say buy, then you should listen. If you want to take advantage of the amazing opportunities in Arizona and become a real estate investor, now is the time to make a move.