What should I do to prepare my home for selling?
The best thing to do is to scope out the competition. Visit other homes that are for sale, so you can see what you’re up against. Make sure your home looks decent. It should be clean, in good repair and have no offensive odors. For staging, keep furnishings, decor and personal stuff to a minimum.
Madeline Friedman
Vice President
Long Realty Company, Tucson
Phone: 888-296-1956
Mobile: 520-907-4141
[email protected]
tucsonazhomes.com
Start packing and work with a trusted Realtor. Tidy up and fix those little things that have been bugging you, like a sticking door or cracked window. If those little things annoyed you they will annoy a prospective buyer. And you might have to fix them in the end to close the sale, anyway.
Your home must look inviting from the street. First impressions are what will help get buyers out of their cars and into your home.
Mark J. Friedman
Realtor
Realty Executives, Scottsdale
Phone: 602-370-3939
[email protected]
mjfriedman.com
What should buyers be aware of in the current market?
The Greater Phoenix real estate marketplace consists of numerous “pockets.” Know the market, whether you are looking for commercial or residential opportunities. Urban infill areas are really the rage right now. Prices are continuing to appreciate significantly, with high buyer demand and low supply. As a buyer in a high-demand area, with properties that are priced right, know that your offer may be one of several. Don’t let that scare you away, though. Negotiating creatively and purposefully will ensure that you can secure a meaningful deal. In many suburban areas, you may have more negotiability at this time. Know the product available, comparable sales, comparable listings and the motivations of the seller, to craft your best deal in any submarket.
Beth Jo Zeitzer, Esq.
President/Designated Broker
R.O.I. Properties
Phone: 602-319-1326
[email protected]
roiproperties.com
What types of properties are the best investment in today’s economy?
The best real estate investment in today’s economy depends greatly on the individual investor, their desired return, time frame and financial threshold. Just saying you desire a 10% return, for example, is not enough information to determine the best investment. Selecting a model that suits your growth goals is crucial.
• Purchasing with intent to carry the property long term while collecting a monthly payment (income stream) and realizing appreciation down the line. This “buy and hold” model works best for investors looking to achieve an income stream and capitalize on long-term capital gains. Ask your accountant.
• Purchasing with the intent of doing minor rehab work on a property – such as paint, carpet/flooring, kitchen and minor outdoor decor – to bring it up to today’s market conditions. This goal would be best served by a conventional ‘fix and flip’ model.
• Purchasing with the intent of completely remodeling the property. This long-term ‘fix & flip’ model is best suited for a financially competent investor. This may work for you if you’re looking for a potentially larger return and are willing to acquire a property and increase its value by adding square footage and fully updating it to today’s standards through a total remodel. These investments generally require a longer time frame than the traditional ‘fix & flip” as permits are generally needed, but do offer a higher return potential.
Working with a broker who understands these different models is essential to your success as an investor. Your broker should listen to your specific needs to determine the best course for you to achieve a profit.
Leon Gavartin
Associate Broker
The Mitchell Group, Realty Executives
Phone: 480-725-0145
Mobile: 602-329-1918
[email protected]
mitchellgroupaz.com
Despite the best planning, things don’t always go as intended. What’s the funniest thing that happened at an open house?
I was working at an open house and the owners cautioned me about letting their black cat escape when the back door was opened. Sure enough, the first group that came through had a couple of young children. While playing with the cat, one of them opened the back door and the cat ran out. We searched frantically for the cat, who hopped the back fence. I was just about ready to call the owners and tell them the awful news, when I opened the front door to let someone in and saw the cat sitting outside. I coaxed it back inside. About 10 minutes later the owners returned and I was very glad that I didn’t have to tell them that their precious cat was gone.
Toby Weinstein
West USA Realty
Phone: 602-228-0265
[email protected]
