The real estate market is currently picking up pace which means increased stress for buyers and sellers who are considering or currently in the process of buying or selling a home. It’s a challenging process and one which requires the buyer or seller to be fully informed, aware and willing to accept help in order to gain a positive outcome. With that in mind here are a few things which might help make navigation of the current real estate market in Arizona a little bit easier.
Brace Yourself
The inspection and resolution process is one of the most challenging parts of the real estate transaction in today’s climate. Most buyers are often competing in multiple offer situations and because the market is so competitive at the moment they are often paying above the list price. As a seller it’s important to be prepared for buyers to refuse negotiations on repair requests because they were unable to negotiate the price.
Statistics show that homes which have come back on to the market after an inspection often take longer to sell or the seller is forced to accept a lower offer. It’s important to remember that the inspection report will be shared with all future buyers and can have a negative effect on the process of selling your house. As a buyer, you need to consider what is within your control but try not to be too unreasonable; you won’t to pay above the list price for a house which requires extensive repairs but how likely are you to find more houses that hit all of your criteria? So if the seller offers to do all of the necessary repairs, it’s good practice to keep your foot in the door and get advice from a realtor to see if this has upped the house’s value.
A Quick Move
The real estate market is highly competitive and as a buyer in this market you need to be ready to move quickly when a home that hits your criteria comes on the market. It’s a good idea to hire an experienced realtor as this can save you a lot of time and money in the long run. Look for realtors who have positive testimonials and up-to-date experience such as the Tavares-Luera Team, Tucson, because this is someone who you have to put a lot of trust in to deliver the results.
As a seller ensure you have done all of the necessary groundwork such as de-cluttering your house and general maintenance so that you are 100 per cent ready and prepared for the viewers. Set up a contingency plan in case you manage to sell your current house before you have bought a new property; this could be a caravan in your parent’s back yard or moving in with your best friend.
The real estate market is moving exceptionally fast in Arizona so being prepared and aware of the potential challenges you might face is crucial to ensuring you have a smooth transaction.
