"My husband and I have bought and sold several luxury homes in multiple markets from DC, to Denver and finally to Paradise Valley. In our opinion our agent, Lisa Goldman, is THE BEST OF THE BEST! If we were to ever consider selling and buying I wouldn’t use any other agent." - Gary & Leslie Fox
Considerations When Selling Your Home
TIMING IS CRITICAL
When selling your home, timing is by far the most important consideration. A number of judgments will be made about your property from prospective buyers based your timing so here are a few key factors to consider:
- Typically the best time to sell your home is in the spring, followed by the fall. Most people want to move in between school years and when tax refunds are due. In Scottsdale, springtime is also when you have the largest potential group of buyers due largely to the snowbirds and Canadians who “winter” in the valley and return home typically before the start of summer. Spring is also when the largest tourist events take place in Scottsdale as well.
- It is typically best to put a house on the market on a Thursday so it can be shown that coming weekend. Weekends are when the highest levels of housing activity takes place and by having your market listed for the shortest period of time, you can help avoid longer listing times when buyers start to wonder what may be wrong with the house and why it hasn’t sold yet.
PRICING MUST BE RIGHT
Most homes fail to sale in a timely manner because they are simply not priced correctly when they go to market. There are a number of ways you can help avoid this including:
- Working with a broker that is honest, experienced, and more interested in selling your home in a timely manner than simply getting your listing at any price.
- Making sure your house is “priced to sell” during the first 2 weeks it goes to market. This is the most critical sales window where the most serious buyers will likely be the least concerned about the age of your listing. The longer your listing stays on the market, the more cautious potential buyers can become and you may lose negotiating power as a result.
- Working with a broker that will thoroughly research the local market, sales histories, market trends and help you best position your listing for immediate success.
TIMING THE MARKET
The real estate market fluctuates like most markets and can have it highs and lows. Beyond the typically seasonal considerations that take place with home selling in Arizona, there are also market considerations to consider as well. These include:
- Is the current timing considered a Buyers or a Sellers market?
- Are mortgage interest rates high or low? Are they rising or falling?
- How are home sells (your competition) performing in your local area? How much inventory is currently on the market and for how long on average?
Considerations When Buying Your Home
As the old saying goes, the three most important factors in real estate are location, location, location. There are a number of considerations when picking which location in Scottsdale that may be right for you. These include:
- Budget for how much home can you afford to buy. This will help you narrow down possible locations based on affordability.
- Will you be commuting in and out of Scottsdale / Phoenix for work?
- Will you be living in Arizona during thesummer months?
- Do you like to frequently go out for dinner and nightlife?
- What kind of community activities, events, lifestyle do you desire?
- Where are the best public school districts to live in?
- What areas are likely to provide the highest value and investment appreciation potential?
- If you are looking for a second home purchase, how much maintenance will your home require when you are gone?
KNOWING WHEN TO BUY
Other considerations include WHEN you decide to buy your Scottsdale home. Typically, the best months to buy are right after the December holidays and during the summer months when your potential competition is the lowest. Offers made earlier in the month and on Tuesdays also tend to put you in the best position to negotiate for the best prices.
OTHER THINGS TO CONSIDER
- Make sure you consider all possible fees associated with a potential home. Some communities can charge dues and HOA fees that rival the property tax payments of many homes in the valley so make sure to read the fine print on each listing.
- The best investment properties are commonly the least expensive homes in the best neighborhoods - not the other way around. Remember that land is the only thing that appreciates in real estate so invest in your location first.
- How is your home positioned relative to the sun? Yes, in Scottsdale the sun is a consideration because it can have a huge impact on how you may use your property, pool, yard and when. Moreover, it will also impact what kind of protection your home may require as well.
- Make sure you use a real estate agent that is a good negotiator. Buying a home can be a very emotionally charged experience and you need somebody who will help you negotiate the best outcomes of the process. There are many considerations that a good agent may help you better negotiate a better price with including your credit score, down payment, timing, and willingness to walk away from a negotiation.