Arizona housing market stabilizing, says Valley real estate agent

PHOENIX - The Valley's housing market has seen a steady increase over the last two years. The median price for a single family home has increase 14 percent since last year.

"Homeowners managed to get into the position to where they can get some equity," said Michael Orr, Real Estate Center WP Carey school of Business.

But how much was recovered depends on where you live.

"The lower they went the more they recovered. So usually it's the cheapest part of town, which is often the oldest least attractive, collapsed the most. So they will have the most to come back," said Orr.

Which is good news for sellers. But to make your home standout to buyers, there are inexpensive upgrades that will make sure your house makes a good impression.

"If people haven't recently painted their home or put new carpet in. For that little investment, they are going to get a lot more return in their home," said Kathleen Bates, real estate agent.

Replacing the front door, adding a simple back splash in the kitchen and de-cluttering  your home will help you catch an eager buyer's eye.

While some believe prices are expected to stabilize, buyers might see a slight drop in the summer.

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