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How To Sell Your Prescott AZ Home, Spring 2014 Edition

Filed in Prescott, AZ Real Estate by on April 16, 2014 0 Comments • views: 546

People often ask me, “How’s the market?” My response is usually, “Which market do you mean?”  Because here in Prescott Arizona, we have several markets.  Its important to understand that ALL REAL ESTATE IS LOCAL (repeat that three times) . So each neighborhood is a separate market. In fact, within a neighborhood there are often multiple sub markets. For  example on the West side of town some of my favorite neighborhoods are Forest Trails, Wildwood Estates, and Kingswood. Within these areas we have lower, middle and upper price points which all behave differently. Let’s look at Forest Trails for a minute. The price range of active listings currently runs from $365,000 up to over $2 million.  The average sold price per square foot is $158 and average days on market is currently 118 days. However if you look at the price point break down, it looks very different. The homes under $500,000 generally sell much faster and closer to the listing price than do homes above a half million dollars.  So its very important not only to understand the broader market, but also to understand how different price points behave in each neighborhood. Prescott Real Estate by price point. Prescott Real Estate by price point. The graphic above shows the impact of price point in the Prescott AZ market. Homes priced below $350,000 sell much faster and represent a larger portion of our market. So the first step in getting your home sold, is to have a clear understanding of your particular neighborhood.  I always advise my sellers to step into the shoes of a buyer. Today’s buyers nearly always begin the home search online. The search is actually a process of elimination. Homes are judged on two main criteria: Price and Condition. If your photos are bad, your home is eliminated right from the start. Yet many agents still don’t realize that poor photography skills translate into thousands of dollars lost and even extra months on the market.

Example of a professional listing photo.

Example of a professional listing photo from one of my listings

Bad photos

Example of one of my competitor’s listing photos.

In my next post I’ll dig deeper into understanding market signals and also seller priorities. We need to understand both to be successful. [contact-form][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Website’ type=’url’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]   Dave Conners is a team owner who enjoys teaching about real estate. 

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