There 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]
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