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Phoenix Real Estate and Homes for Sale | Jonathan Dalton, Realty ONE Group – (602) 502-9693

Jonathan Dalton
REALTOR
ePro, SFR
602-502-9693

KISS – It Really is the Price

KISS – It Really is the Price

avatarthumbnail.jpgThere was an article over on Active Rain today that had me shaking my head. The basic implication was pricing a property competitively to sell is important but outstanding marketing could help bring in some extra dollars.

Realizing that all real estate local, that’s simply not true in the Phoenix real estate market these days. In fact, one could debate whether it’s ever been true.

I have a buyer looking for properties in two subdivisions in Goodyear. We’ve been in the midst of the multiple offer mosh pit on a couple of places and after coming away bruised but unsuccessful I thought I’d check specifically among non-bank owned, non-short sale homes.

Guess what? There’s nothing to be had at a competitive price. Maybe this is because any home that was competitively priced already has gone under contract. But there wasn’t a single home I could point to that was within shouting distance of market value based on the rest of the comps.

But the bank owned homes are beat to hell …

No, they aren’t. At least not all of them. The homes we recently have bid on have been in good condition … not pristine, but truth be told, almost no homes really are pristine.

Marketing can help a home sell more quickly and can possibly raise the value slightly but at the end of the day prevailing market values are going to tell the tale. No one is going to pay $25,000 above list because of the customized yard sign or color flyers. Those may help sell your house versus another, but only if the price is right.

When in doubt, KISS continues to apply.

[tags]Phoenix real estate[/tags]

Comments

  • Whizzer says:

    Marketing which creates traffic can/should be value added.
    No demand, no buyers, no value.

  • True, but if the house is priced $30,000 above the prevailing market then not even a electric light show is going to attract an interested buyer. At least, they’ll lose interest once they see the comps.

  • Whizzer says:

    Great post. Actually I agree on price. Price should be part of ‘marketing’.

    BUT, I hadn’t thought of an electric light show.

  • Phoenix always seems to be a market of its own that does not follow the rules the rest of the country. Not saying that it is anybodys fault, I just find it very interesting that the market and prices work differently there and you have boom/bust times when the rest of the country does not.

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