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Archive for the ‘Real Estate Listings’ Category

If you are considering purchasing or selling a home, condo or any other type of real estate, you will most likely need the services of a real estate appraiser. An appraiser performs an assessment of properties and other types of real estate to help establish its value. While there are several methods appraisers use to establish the value of real estate (e.g. cost method, income method, and comparison method), for residential properties, the comparison method (also known as market value) is the most common approach. The appraiser’s job is to provide an opinion about the value of a property based on its “highest and best use.” If you are financing the purchase of a property, your lender will normally require an appraisal to make sure that the property is really worth the amount loaned.

The real estate appraiser is tasked with carrying out a completely objective assessment of a property and will normally provide a written evaluation report. This is accomplished by a physical inspection of the property, as well as a comparison to other similar properties for which the value is already established. To make a determination about value, the appraiser gathers details such as the size of a property, size of the lot, location, condition, best use of the property, amenities, etc.

After this initial inspection, the appraiser may scout the neighborhood to compare the property with other similar properties in the neighborhood by age, size, price range, etc. The appraiser then gathers additional data from several sources such as the local Multiple Listing Services (MLS), which provides information on current and recent comparable sales. The appraiser also gathers information from his/her own past experience in the local market. All of these sources of information are taken into consideration while writing the appraisal report, which will provide an estimate about the value of a property.

There are many reasons to use the services of a qualified appraiser. When purchasing real estate, an appraisal provides you with a negotiating tool and helps ensure that the price you are paying is appropriate. If you are selling your property, the appraisal will help you determine an appropriate price range. Besides real estate and mortgage transactions, you may need to order an appraisal to lower the tax burden (assuming the value is really lower than the value established by taxing authorities), to establish the replacement cost of insurance, to settle an estate, etc. An appraiser only gives an estimate of the value of the property. A real estate appraiser is not to be confused with a home inspector.

If you are considering buying or selling a home, condo or any other type of real estate, you can use the services of a qualified real estate appraiser who will provide an estimate of the fair market value of your property.

Arizona Real Estate Listings

Are Enticing  Purchasers

Arizona real estate listings are disappearing like never before! Back in  the month of January of 2001, at the height of the real estate bubble, there were 114,402 Arizona real estate listings. The following year, as builders kept  making new upscale residences, that number had  risen to 125,738. Over the next few years, housing stock fluctuated: up to 133,424 in 2003, back down to 127,625 in 2004, up to 143,988 in 2005, up to 173,363 in 2006 and down to 165,615 in 2007 and 162,181 in 2008. Then, in 2009, something  strange  occurred : Arizona real estate listings  dropped sharply to an  amazing 62,653! Despite the recession and all the tales of “doom and gloom” across the  nation, the Phoenix MLS was reporting nonstop house sales. From January to February, 1,095 homes sold. Housing inventory began  to creep back up from February to March, but March to April  witnessed more than 3,000 Arizona real estate listings disappear! The latest  figures from June  exhibit that houses are still moving by the hundreds.

So what gives?  What makes  Arizona real estate listings and Phoenix real estate listings such hot commodities? One would logically assume  that builders and sellers are simply slashing  prices to  easily  entice buyers  into foreclosed properties. However, the Arizona Real Estate Multiple Listing Service reports that prices have remained stable. In March 2009, the average price of new listings in the Phoenix MLS was $247,507 and in April 2009, the average Arizona real estate listings price had actually gone up  to $251,019! By May, the average price had dropped back down  to $247,508, which shows  that surely list price cannot be the primary motivator for these  unbelievable sales. (Although it should be noted, the prices have come down a modest $18,102 since 2001.)

Despite  the list prices, the average sales price of Arizona real estate listings have been  tardily, but steadily,  rising since the March low of $159,080. In April, sale prices crept to $159,681 and in May, they skipped up to $163,486, which  shows a market on the rebound. The majority of houses in the Phoenix MLS are selling between $150,000 and $350,000, indicating  a balanced market.

There are many  possible reasons for the   rise in sales of Arizona real estate listings. One is the low mortgage interest rates, which are well below historic averages,  alluring  purchasers to “get in while the getting’s good.” Another reason  is that big home auctions are getting desirable properties into the public’s eye. Thirdly, in April, Arizona received  $121 million in funding to  aid bolster its housing market, renegotiate mortgage loans and stop real estate foreclosures. The Phoenix real estate listings region received  the most cash, with $39.4 million going to aid  homeowners. Some homeowners are saving as much as $20,000 off the price of their Arizona real estate listings through a program called   “Your Way Home AZ.” Lastly, the $8,000 First-Time Homebuyer Tax Credit offered through the federal government until December 2009 is exciting new homeowners. Arizonans are realizing  that Phoenix real estate listings offer  stable prices, fair market values and  excellent opportunities.

Real Estate Listings: Compete with Quality

Introducing your real estate for sale in a well thought out listing is the first introduction your prospective buyer will have for the property. The real estate listing should be complete and the facts contained in the listing should be accurate. The prospective buyer should find the listing easy to understand and tempting enough to make them motivated to learn more and come out to view the property. As technology moves forward with advances in print and the internet getting the attention of buyers can be an easier assignment.

How many times have you read a real estate listing with vital information left out? Basic things like number of bedrooms or the amount of property tax paid. On the other hand others put in such an excessive amount of information, or with nothing by abbreviations that the prospective buyer will just move on to the next listing. You can’t go wrong starting with the basics. Numbers of bedrooms, if raw land the zoning, size of the lot and so forth. Detail the properties most attractive selling points like large lot, or remodeled master suite or location. Color pictures always support the written real estate listing.

Your real estate listing should not only be factual but honest. Many prospective buyers invest a lot of time and energy to get out and view properties. They are therefore not likely to appreciate finding that the home they see listed as lakefront property is actually overlooking the lake from a block away and has lake access. There really is a difference. The more inflated the claims, the less likely buyers will be willing to work with a property owner. Since buyers ultimately want to feel good about their purchase, it is better to be honest and show credibility than to be dishonest and run the risk of having no one to sell to. Plus in many areas it’s against the law not to disclose all the facts about the property.

Online real estate listings are a great option to marketing a home. Visualization plays an extremely vital role when it comes to marketing a property and the internet is a perfect venue for creating stunning visual portfolios. The number of technological advances, such as the 360 degree camera shot, allows prospective buyers to pan around and see a property from every angle without ever having to leave the comfort of their home. This is a bonus for those who find themselves in need of a residence in an entirely different city or state. Properties with these types of listings are also likely to get a higher number of views as compared to the conventional real estate listing.

Studies have shown in a variety of sales situations, everything being equal, that you’ll make the sale sooner and closer to the asking price if a larger number of prospective buyers are motivated to take the next step and view the property. So with a proper balance of facts, technology and good old fashioned sales savvy will go a long way toward selling your property.