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Monday, April 29, 2019

A Rare Opportunity That Our 2019 Market Presents to Sellers


Our local market in 2019 is an extremely seller-friendly environment due to two major factors—but a cooldown could be on the way after this year. 

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Like anything else in life, timing is crucial, and 2019 is proving to be a banner year for our area market-wise. 

One contributing factor to our red-hot market is the fact that there’s been a surge of buyer demand from millennials, and this is great news if you’re a seller. 

Yet, despite all of this positive news, analytics experts such as CoreLogic assert that we’re in a housing bubble, and based on our piece of the national market, I believe there is some truth to these claims.
There’s truly no time like the present to jump into our market and capture top dollar for your home!
There are a couple of factors that make market conditions especially good right now, but which aren’t likely to last:
  1. Rates are still historically low. Sitting at or slightly below 5% on average across markets nationwide, today’s rates are still incredible when compared to what buyers could obtain in the past. Despite these rock-bottom lows we’re enjoying, an uptick in rates is an inevitability—there’s no way around this. Buyers will retreat to the sidelines when that happens, which makes it all the more reason to put your home on the market now. 
  2. Inventory is at a perfect balance right now. This isn’t true for all niche markets—luxury homes are sitting on the market for longer periods, for example. But if your home has visual appeal and is properly priced, it’s sure to sell fast.  
These two reasons should be major drivers in your motivation to sell if that’s been on your mind of late. These factors grant you more leverage and aren’t going to hold forever—prices will likely level off and maybe even decrease after this year. There’s truly no time like the present to jump into our market and capture top dollar for your home!   

If you’d like for my team and me to take a closer look at your property and give you an honest, accurate market valuation, please give us a call at 480-580-0171. I look forward to hearing from you!

Thursday, April 18, 2019

What Is an “As-Is” Contract and How Does it Work?


As-is contracts are widely misunderstood, so let’s explore what this arrangement really means today. 

Selling your Greater Phoenix Home? Get a free home value report
Buying a Greater Phoenix Home? Search all homes for sale

Despite what some may think, an as-is contract doesn’t negate the possibility of repairs. This common, but often misunderstood, kind of contract simply stipulates that the seller won’t remedy issues that aren’t consequential to a home’s structural or mechanical integrity. 

Just like any other deal, buyers may choose to back out with no consequence if the inspection results aren’t to their liking. Alternatively, they still have the option to request reasonable repairs. If the faucets don’t work, if the air conditioning unit is broken, or if there is some other significant defect with the home, the buyer is still within their rights to ask that these things be fixed—even in an as-is contract. 
It simply doesn’t make sense to walk away from a transaction over something as minor as a shower with low water pressure.
Any residential resale home will come with some minor wear and tear. In an as-is contract, this kind of everyday damage won’t be remedied by the seller. Instead, the seller will usually factor in the property’s current condition in the way they price and market the home. 

Ultimately, as-is contracts allow sellers to move quickly and buyers to secure a good deal without spending any time negotiating over scuff marks or out-of-date cabinetry. After all, excessive repair requests can easily sink a deal. In today’s market, it simply doesn’t make sense to walk away from a transaction over something as minor as a shower with low water pressure. 

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.