The property market has experienced many ups and downs over the past few years. At one point it was absolutely a sellers market. A home would barely have hit the listings before the offers were flooding in. Buyers were competing to out bid each other and sellers were laughing all the way to the bank. But in the past few years all that has changed.
The south west is one region that has really suffered in the recent property crash. Real estate Prescott AZ experienced a huge jump in value, followed by a crashing fall. Those who brought homes at the height of the market are now left with properties that are worth only a fraction of what they paid for them. This can be devastating, especially if they need to sell for any reason.
Both buyers and sellers have been forced to readjust their thinking and approach the process with new attitudes. One of the biggest differences in the market is price. Homes that might have sold for half a million dollars at the height of the market and now probably worth only half that amount. For those trying to sell this is a bitter pill to swallow, especially if the owners bought the property when prices were at their peak.
Families are typically looking for spacious homes in suburban locations. They want to be in good school districts in Prescott AZ with access to parks and recreational facilities. Having a nice amount of outdoor space is also important. Parents want a nice back yard for the kids to play in and get some fresh air and exercise. A pool is also a really nice feature that adds value to a home and provides hours of fun for the owners.
A comparative market analysis uses actual sale prices to come up with a value for a home. It is in fact very similar to the appraisal process. Learning to do good comparisons is an essential part of the agents job. Many people feel it is the single most important factor, as getting the price right is the best way to generate interest on a home and get some offers coming in.
Finding the perfect home takes some time. Most people have a pretty clear idea of what they want. Families are typically looking for at least three bedrooms and two bathrooms. A good sized yard is also important to most people. Being in a high ranking school district is often at the top of the families wish list, along with parks and sports facilities.
Buyers in today's market can afford to be picky. They know that most sellers will accept an offer that is way below the listing price. The real estate market in Prescott AZ has many excellent bargains. Home buyers are advised to take their time and really wait for that perfect place to hit the listings.
Anyone who is interested in home renovations will most likely enjoy a fixer home. This type of property is typically offered at a much lower price than houses of similar size. The buyer must be prepared to do a lot of work and spend some money. However, by doing most of the work themselves they can save a lot and also build some equity.
The south west is one region that has really suffered in the recent property crash. Real estate Prescott AZ experienced a huge jump in value, followed by a crashing fall. Those who brought homes at the height of the market are now left with properties that are worth only a fraction of what they paid for them. This can be devastating, especially if they need to sell for any reason.
Both buyers and sellers have been forced to readjust their thinking and approach the process with new attitudes. One of the biggest differences in the market is price. Homes that might have sold for half a million dollars at the height of the market and now probably worth only half that amount. For those trying to sell this is a bitter pill to swallow, especially if the owners bought the property when prices were at their peak.
Families are typically looking for spacious homes in suburban locations. They want to be in good school districts in Prescott AZ with access to parks and recreational facilities. Having a nice amount of outdoor space is also important. Parents want a nice back yard for the kids to play in and get some fresh air and exercise. A pool is also a really nice feature that adds value to a home and provides hours of fun for the owners.
A comparative market analysis uses actual sale prices to come up with a value for a home. It is in fact very similar to the appraisal process. Learning to do good comparisons is an essential part of the agents job. Many people feel it is the single most important factor, as getting the price right is the best way to generate interest on a home and get some offers coming in.
Finding the perfect home takes some time. Most people have a pretty clear idea of what they want. Families are typically looking for at least three bedrooms and two bathrooms. A good sized yard is also important to most people. Being in a high ranking school district is often at the top of the families wish list, along with parks and sports facilities.
Buyers in today's market can afford to be picky. They know that most sellers will accept an offer that is way below the listing price. The real estate market in Prescott AZ has many excellent bargains. Home buyers are advised to take their time and really wait for that perfect place to hit the listings.
Anyone who is interested in home renovations will most likely enjoy a fixer home. This type of property is typically offered at a much lower price than houses of similar size. The buyer must be prepared to do a lot of work and spend some money. However, by doing most of the work themselves they can save a lot and also build some equity.
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