August 2014 Newsletter and Arizona Market Update/The Adam Lee Team

 

In this newsletter:

We saw that the number of listings actually went down this July.   The listing prices stayed flat.   Days on the market went  up. It’s common to see a slight slow up in August. 

 

Buyers:

  • First thing is to make sure you understand that listing inventory is going down and may continue to go down.
  • If you are thinking or currently looking for a home, it is time to kick into high gear due to few homes in the market.
  • Base your decisions off on what is happening right now.
  • Fluctuations on interest rates.
  • One of the key pieces:  In the areas of San Tan Valley, Queen Cree and Maricopa, you can opt to do a USDA loan.   But it is very important that you understand that the USDA loan, we have to have you under contract, through the underwriting process and submitted to the USDA for approval by October 1st.  
  • No sitting on the fence, we have to get you rolling now.  

   

Sellers: 

  • You have to be aggressive.  
  • You can’t overprice your listings , make sure that you are pricing well into the market.  
  • Ensure that your homes show well.
  • Make the necessary upgrades to your home like a new carpet, counter tops or any work that your home needs.
  • People prefer to buy homes that are move in ready or close to move in ready.
  • On the days on the market, it might take a little while, not unless your home is extremely well priced and/or extremely well upgraded.
  • Buyers are not competing.

 

As always, if you have any further questions or you need any thing else from us please let us know.  we are always willing to help in any way that we can. We are true believers in getting all the information before you make a decision.

We also would like to thank our referrals as well as our servicemen and women. Have a great July.

July 2014 Arizona Real Estate Market Update

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