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May. 24, 2006 - Sellers' Anxiety

I spent this weekend previewing homes for clients out of town - visiting the properties and taking as many photographs as I can so that when they come back to the Phoenix area, they already will have a good idea of which home they want.

In the process, I spoke to three homeowners and the theme was the same: pleeeease just make us an offer. We're motivated!! As an agent representing a buyer, I couldn't have been more pleased. Nothing works better for a buyer than seller anxiety.

Much of this anxiety is being caused by timing. Last year, many homeowners bought new houses which are now being completed. They're putting their own homes on the market later rather than sooner and discovering there's far more inventory than a year ago. Not even aggressive pricing is helping in some areas.

Additional anxiety is being caused by a change in the market. With gas prices over three dollars a gallon, buyers are thinking twice before buying in some of the more far-flung communities developed over the past year. Suddenly, places like Arrowhead Ranch in Glendale - featured at http://www.arrowheadranchliving.com - are making a lot more sense.

From a sellers' standpoint, though, the anxiety can actually work against you in your home sale. By telling everyone you're motivated and willing to negotiate, you're asking for lowball offers. You're driving down the value of your own home. And in some cases, you're causing the buyers to wonder what is wrong with your home that you are so anxious to move.

I can't say to relax because there's nothing relaxing about selling your home. But make sure you've chosen a real estate professional to help market your home who knows the market and has a wide array of tools to help you sell your home. Then sit back, and let the marketing and your agent do their job for you.

For more information about the Phoenix Arizona Real Estate market, visit my comprehensive website at http://www.DaltonsAzHomes.com!

May. 17, 2006 - Investment Options

Two weeks ago, I received an e-mail from a prospective client looking to get involved in investing in the Phoenix real estate market. I sent him some basic information about Phoenix investment, particularly the west Valley communities of Glendale, Surprise, Avondale, Peoria and El Mirage.

I also sent him an investment disclosure which sets the tone for investing in Phoenix -- or anywhere, for that matter. In short, it says you can lose money investing in real estate, a fact many speculators lost sight of much as they did in the stock market six years ago.

He sent me one property he and his wife were interested in and we prepared an offer only to learn the house already was under contract as of an hour earlier. So he sent me a second hourse. In running the comps for the home, it was apparent the house was priced well above market average. Amazing for our current buyers' market, but true.

I could have stopped there, but I instead ran a search for similar floorplans in the same subdivision. And in doing so, I found an idential home on a good-sized lot for $20,000 less. More importantly, at least to an investor, there's a tenant in place in this property through March 2008 at a good rental rate with a built-in rent increase next winter. And in meeting with the tenants, it's apparent they have little to no interest in moving out of the home anytime soon.

One of the factors many experts are using to steer investors away from Arizona is the high vacancy rate. And it's true, there is a lot of rental property currently available in the Phoenix area. But it's also true that opportunities remain, and sometimes at a better than expected price.

By relying on the knowledge of a neighborhood expert and someone who has worked with investors enough to understand their needs, this prospective client in a month's time will be the owner of a solid investment property in Phoenix Arizona. National news reports are one thing ... local knowledge and expertise, however, often are much better.

For more information about the Phoenix Arizona Real Estate market, visit my comprehensive website at http://www.DaltonsAzHomes.com

May. 14, 2006 - No Phoenix Real Estate news

At least not in the Arizona Republic today. Which makes today a very rare day indeed.

The Republic spent last year chronicling the fast rise in the real estate market and has spent the past few months detailing what its reporters perceive as the popping of the proverbial bubble, the end of the road.

Last Sunday's story was about the number of real estate agents who had joined the business in the past couple of years and now were struggling to make a living. The article was peppered with quotes from veterans with barely-veiled smiles talking about the difficult job that is selling real estate.

And though I've only been doing this for a couple of years, I agree with the veterans. This is a difficult task. Hearing what a buyer wants, which doesn't always match what they say; finding the right price and marketing plan to sell a house; negotiating through an increasingly lengthy contract; working with lenders, escrow companies, inspectors (and clients) for a successful closing.

I was fortunate in that I didn't have a dozen friends and family waiting for me to get my license and list their home. I built my business from the ground up and was one of the top agents in my office a year ago. And I'm on pace for the same this year.

We often say that past performance isn't indicative of future results when it comes to real estate investment. But I believe a track record of success from your real estate professional may be indicative of their level of commitment and ability. Don't trust just anyone with the largest purchase most of us ever will make.

For more information about the Phoenix Arizona Real Estate market, visit my comprehensive website at http://www.DaltonsAzHomes.com

May. 12, 2006 - Finding the one important feature

What's the one feature you can't live without in a home? Is it the pool? The kitchen appliances? The floor plan? Are you sure?

Today was an interesting study in human nature. After spending three days with a client, we discovered the most important feature is a view of the mountains that surround northern Glendale. A pool remains a must and there are some other qualities that my buyer wants in their home. But in the end, it's the mountain views that will decide whether a certain home is the right one for her and her husband.

What makes it so interesting is mountain views weren't a criteria when we started. And thus is proven one of the oldest adages in real estate, that what buyers say they want and what they actually want often aren't the same. A good real-estate professional can listen not just to the buyers' needs, but to the indirect references ... the not-so-direct demans ... a buyer may have, and make those hopes a reality.

In this case, finding the right home with a mountain view is only a matter of time. From Sierra Verde in Arrowhead Ranch, to the Top of the Ranch and the homes at the edge of the Hedgpeth Hills of north Glendale, the options are seemignly endless.

This story also applies to finding the right real estate agent. Maybe you think you know what characteristics are important to you ... and maybe you'll soon learn that there are other factors you've never considered (such as mind-reading in addition to in-depth knowledge of the amenities and features of each subdivision) that will make the difference in finding the right home for you.

For more information about the Phoenix Arizona Real Estate market, visit my comprehensive website at http://www.DaltonsAzHomes.com!