Top 4 Most Common Real Estate Pricing Mistakes
4 Arizona Real Estate Pricing Mistakes You Can’t Afford to Make
When selling Real Estate, there are many factors to consider; Can I afford to sell? What is my home worth? How do I attract the right buyers? If I sell, what are my next steps? These are all important questions to answer BEFORE the home ever goes on the market. As an Arizona Realtor we have seen our fair share of market peaks and valleys. Some of the most common concerns Sellers have are in regard to the listing price of their home. Selecting the wrong listing price can negatively affect how you answer those critical questions, just as selecting the correct list price will make your life a whole lot easier. Here are 4 Arizona Real Estate Pricing Mistakes You Can’t Afford To Make.
Phoenix’s East Valley and the Arizona real estate market has had its ups and downs in the past 20 years. Starting in the late 1990’s and continuing until the 2008 market crash, the population of the East Valley, and the average price of East Valley real estate, rose steadily. For example, the population of Mesa rose nearly 4 percent between 2000 and 2008, and Mesa AZ real estate prices were at record highs when the crash occurred.
After 2008, the Arizona real estate market took a huge hit to its property values. East Valley home values dramatically dropped, in some cases by half. The area has made strides to recover, driven by the fact that the East Valley is still just a great place to live. But many homeowners continue to be frustrated with the value of their East Valley real estate.
Sellers entering the Arizona real estate market today have to be vigilant when it comes to pricing. Mortgage requirements remain strict, and qualified buyers have many options. It’s important to trust a qualified seller’s agent to price your home, to help you avoid the 4 pricing mistakes causing some East Valley sellers to have trouble selling their home.