Russ Lyon Sotheby's International Realty shares real estate tips

Russ Lyon Sotheby's is a paid sponsor of Sonoran Living Live

Kelli Richarson shares tips on today's market.
What is the real estate market like right now in the Phoenix area?

The Phoenix real estate market is definitely moving again.  Over the past 12 months we have seen prices drive up approximately 30% throughout the Phoenix Metropolitan area.  (see graph 1)  This price increase is driven from simple supply and demand; the inventory is decreasing but the number of buyers is increasing.  We're not only seeing winterhome buyers and investors but we have a lot of first time home buyers as well as buyers who have had to wait a couple of years since they distress sold their home when the market crashed.  (see graph 2)

Would you say it's more of a sellers market or a buyers market?

The market is good for both buyers and sellers because you are still able to get homes at a reasonable price & you're still seeing the prices rising.  Sellers are also benefiting right now because this is the first time in a long time they are seeing equity in their homes.  It's especially a great time for people who are looking to upgrade because they can sell there home with equity & still take advantage of the growing market.

If somebody is interested in selling what should they do?

- Step 1 declutter & remove all personal items such as family photos.
- Step 2 use professional photography.  
- Step 3 is create a nice mood through music playing in the background during showings.
- Step 4 put out cookies fresh baked cookies & bottled waters.  
- Step 5 leave a note thanking buyers for looking at your home.

We all know that the internet is a hot spot for viewing homes, just how many home buyers are turning to the internet to search for homes?

Latest Real Estate Buying Trends
·    90% of home buyers searched online during their home buying process
·    75% of senior home buyers go online to search for a home
·    42% identify the home they eventually purchase online
·    84% reported the photos to be the most useful information

What can homeowners do to make their property more marketable online?

How to make your home stand out online
·    Detailed Property Description
·    Professional Photography
·    Advertise, Feature & Promote

Kelli Richardson / Russ Lyon Sotheby's International Realty
Phone Number:  480-320-8246

Russ Lyon Sotheby's is a paid sponsor of Sonoran Living Live

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