Fewer low priced homes available

Posted at 6:44 PM, Apr 19, 2016
and last updated 2016-04-19 21:44:10-04

Thinking about buying or selling a house?

You always hear that location is important. But there are other things that can give you an edge too.

Realtor Paula Serven says if your house is on the market, start packing your stuff now.

"You want people to be able to see what they'll have to use," she says.

That means clearing clutter from counters, keeping minimal furniture in the house and removing pictures from walls.

"If you keep things kind of organized during the time that it's on the market, it makes a big difference to people," Serven says.

She would know. Serven's been a realtor in the Valley for 24 years, currently serves as President of the Arizona Association of Realtors, and says pictures are important too.  

And because most buyers start searching online they better be good.

Serven says it takes at least 1,000 views before a potential buyer comes to check out the house.

Unless you're priced under $175,000.

"There's multiple offers on the lower end of affordable housing," she says.

There are a lot fewer of those homes on the market.

So if you're looking to buy expect some serious competition and be financial prepared to pay full closing costs.

Things become more negotiable in the $220 to $600,000 range. Anything over that amount, Serven says, "you'll spend more time on the higher end on the market."

But that can mean more wiggle room for buyers.

Something else to Serven says to consider, "April through July are when most sales (happen)."

Great for sellers. But if you're buying you might want to wait it out.

"By August things slow down," says Serven.

She also says the Consumer Financial Protection Bureau's, Know Before You Owe mortgage disclosure rule,  allows for cooling off periods to give buyers time to understand the loan and shop around for the best interest rate.

Find out what those rules mean for you here.

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