Archive for April, 2008
How To Sell Your Home in 90 Days (or less!) Part 1
April 24th, 2008 categories: Home Sellers, Real Estate News
Yup. Buyers are still buying. Hard to believe with all the negative press but it’s true. They’re out there. They really want and need to buy a house but are scared to death to step up to the plate and sign a purchase contract. Who can blame them? Every day it seems the news media delivers more bad news about real estate. I wish a recession would hit the news industry but more on that later.
OK, so you need to sell your home. If you’re in Prescott, you are now one of over 1200 homes listed for sale through the Prescott Area Multiple Listing Service. How do you make your property stand out and become a SELLER instead of just another listing in MLS?
1. OFFER THE MOST AND COST THE LEAST. I cannot stress this point strongly enough. Since you are competing with a sizeable inventory of resale homes, your home must look as sharp and clean as it possibly can, inside and out. Get rid of the clutter, pull the weeds, and wash the windows. Price your home BELOW the competition.
2. PRICE YOUR HOME CORRECTLY FROM THE BEGINNING. Do not, I repeat, do not start out too high thinking you can come down if you don’t get offers. Trust me, if you’re priced too high you won’t get any showings, much less offers. If you’re serious about selling, you must be ahead of the pricing curve. Price and price alone is what will bring Agents and Buyers to your home.
3. DON’T OFFER MORE COMMISSION, LOWER THE PRICE!! Buyers are not going to pay a higher price just because their agent is making more commission on the transaction.
Remember, today’s Buyers have full access to Multiple Listing Service. That means they know what’s on the market and how much it costs. Today’s Buyers typically have this information before they ever talk to a Realtor.
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Tips On How To Buy In A Buyers Market
April 22nd, 2008 categories: Home Buyers, Real Estate News
A buyer’s market exists when there are a lot of homes on the 
market and very few buyers. If the number of homes on the market in your neighborhood has been rising, it’s likely that the days on market has been increasing too. Couple that with declining sales figures over previous months, and home buyers are in a excellent position to negotiate. Here are a few tips on buying in a buyers market.
1. Know the listing inventory. Look at similar homes on the market and know the prices. If you’re like most buyers, you will want to offer less than the asking price, it’s human nature. Know what homes have had recent price reductions. These sellers may be more likely and receptive to lower offers.
2. Request e-mail listings and updates. 80% of today’s buyers start their search on the Internet. Have your Real Estate agent register you for e-mail updates. This is a great time saver.
3. Obtain comparable sales information. When you find a home you want to make an offer on, ask your Real Estate agent to print out a list of recent sales of comparable homes in the same neighborhood. This will help establish an appropriate offer.
4. Ask for allowances or credits. In a buyers market, it never hurts to ask. If the carpet needs replacing, if you need help with closing costs, ask the seller for a credit at close of escrow. Check with your lender first and find out how to word the credit clause.
5. Request Extras. Sellers realize that in a buyers market they may need to offer something extra to entice a sale. Don’t be afraid to ask for a home warranty or appliances.
6. Talk with several Mortgage Lenders. Fees and interest rates that lenders charge vary. Talk with 2 or 3 mortgage lenders to make sure you’re getting the best terms and conditions for your money.
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Granite Dells Added To Prescott Open Space
April 18th, 2008 categories: Just For Fun, Real Estate News
I could not be happier to report that the City of Prescott has just purchased 35 acres in one of my very favorite areas; Granite Dells. This pristine acreage will be added to Prescott’s growing inventory of dedicated “Open Space”. Beginning with the aquisition of some Granite Dells Ranch parcels in the 1990’s, the City has endeavored to preserve as much of Granite Dells as possible. Willow and Watson lakes were added in 1998, providing area residents with lakes for boating (no gasoline motors!), fishing, and wonderful trails for hiking and bird watching. To read more about Prescott’s Open space program, go to; http://www.cityofprescott.net/services/parks/space/
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There are some great Real Estate deals out there!
April 16th, 2008 categories: Featured Listings, Home Buyers
There are some great deals out there for home buyers. Homes prices are now comparable to those of 2003. This home is priced at $143.00 per sq. ft. We haven’t’ seen prices like that in years for new construction. Remember the old saying “buy low, sell high”. Now’s the time!
2973 Noble Star
Prescott, Arizona
If you are looking for a great home at a great price, look no further. This home is located in the Prescott Lakes subdivision, at 2973 Noble Star. This home offers 3,479 square feet, 4 bedrooms, 3 baths, a large family room, formal dining, large kitchen, a rock fireplace, media room or home office, main level living and views. This home is brand new construction and ready for occupancy. Prescott Lakes is a beautiful subdivision offering golf, tennis, swimming pool, athletic facility and a club house. Take a virtual tour of this lovely home by clicking the link 2973 Noble Star Virtual Tour
Prescott MLS # 923847
Offered at $499,900
For more details on this property, contact
Sherry Huffman, Realtor
928.533.1833
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Prescott vacant land sales still trending downward
April 11th, 2008 categories: Market Update, Prescott Market Statistics
Land listed for sale at Crossroads Ranch, Prescott
Here are the Vacant Land sales statistics for the month of March, 2008.
Vacant land sales have been on a downward trend since the end of 2005. As of the 4th quarter of 2007, vacant land sales were down 56% from the previous year. At the current sales rate, there is a 9.3 year supply of vacant land. To see previous sales statistics of residential home, click here
City of Prescott Vacant Land
| Price Range | Vacant Land Properties On The Market | Land Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $10,000 to $50,000 | 26 | 0 | N/A |
| $50,001 to $100,000 | 83 | 0 | N/A |
| $100,001 to $300,000 | 1,031 | 9 | 114.56 |
| $300,001 to $500,000 | 264 | 3 | 88 |
| $500,001 and above | 64 | 1 | 64 |
| Totals | 1,468 | 13 | 112.9 |
Prescott / Tri City Absorption Rates By Area
See below for area definitions (110 - 150)
| Area | Vacant Land Properties On The Market | Land Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| 110 | 270 | 2 | 135 |
| 120 | 266 | 1 | 266 |
| 130 | 217 | 1 | 217 |
| 140 | 131 | 1 | 131 |
| 150 | 67 | 1 | 67 |
| Williamson Valley | 544 | 7 | 77 |
| Prescott Valley | 309 | 1 | 309 |
| Chino Valley | 432 | 3 | 144 |
| Dewey | 245 | 1 | 245 |
| P.C.Club/ Quailwood | 24 | 1 | 24 |
| Totals | 2,595 | 19 | 136.58 |
Area 110: North of Gurley/Thumb Butte, West of Willow Ck Rd including Longview
Area 120:North of Gurley, East of Willow Creek Road, West of Hwy 89
Area 130:East on Hwy 69 from Hwy 89 & 69 Junction, East of Hwy 89
Area 140: South of Gurley, East of Park/White Spar, West of the Ranch
Area 150: South of Gurley, East of Park/White Spar
As always, please feel free to contact me with any questions.
Regards,
Sherry Huffman
Realtor-Associate
The Huffman Group, Realty Executives
928-533-1833
928-441-1201 e-fax
sherry@thehuffmangroup.com
www.theHuffmanGroup.com
www.PrescottRealEstateRoundUp.com
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Prescott Homes For Sale
April 9th, 2008 categories: Featured Listings, Home Buyers, Home Sellers
This home is our Featured Listing of the week.
This home is located at 544 Golden Hawk Drive in Prescott.
This home features 3 bedrooms, 2 baths, home office, 1,863 sq.ft. and was built in 2002. This home is immaculate inside and out and offers panoramic views. This home sits on a large .52 acre. The landscaping is low maintenance with many beautiful trees and native shrubs. To see a virtual tour of this home, click on the link below
544 Golden Hawk Virtual Tour
Prescott MLS# 918839
Listed at $339,000
Contact Sherry Huffman for more information
(928) 533-1833
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April 1st, 2008 Real Estate Market Update
April 1st, 2008 categories: Market Update, Real Estate News
Here is the market update for the month of March, 2008. Compared for February 08, active listings and sales are both down, which is the good news and the bad news. Less active listings on the market is the trend we are looking for. We will continue to watch that number over the next few month. To see previous sales statistics, click hereCity of Prescott
| Price Range | Residential Properties On The Market | Residential Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 170 | 11 | 15.4 |
| $300,001 to $500,000 | 375 | 13 | 28.8 |
| $500,001 to $800,000 | 298 | 6 | 49.6 |
| $800,0001 to $1,000,000 | 72 | 2 | 36 |
| $1,000,001 & above | 85 | 0 | N/A |
| Totals | 1000 | 35 | 28.5 |
Prescott / Tri City Absorption Rates By Area
See below for area definitions (110 - 150)
| Area | Residential Properties On The Market | Residential Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| 110 | 117 | 8 | 14.6 |
| 120 | 346 | 12 | 28.83 |
| 130 | 131 | 3 | 43.67 |
| 140 | 141 | 7 | 20.14 |
| 150 | 89 | 3 | 29.67 |
| Williamson Valley | 176 | 3 | 58.67 |
| Prescott Valley | 646 | 31 | 20.84 |
| Chino Valley | 269 | 13 | 20.69 |
| Dewey | 85 | 2 | 42.5 |
| P.C.Club/ Quailwood | 89 | 5 | 17.8 |
| Totals | 2,089 | 87 | 24.01 |
Area 110: North of Gurley/Thumb Butte, West of Willow Ck Rd including Longview
Area 120:North of Gurley, East of Willow Creek Road, West of Hwy 89
Area 130:East on Hwy 69 from Hwy 89 & 69 Junction, East of Hwy 89
Area 140: South of Gurley, East of Park/White Spar, West of the Ranch
Area 150: South of Gurley, East of Park/White Spar
As always, please feel free to contact me with any questions.
Regards,
Sherry Huffman
Realtor-Associate
The Huffman Group, Realty Executives
928-533-1833
928-441-1201 e-fax
sherry@thehuffmangroup.com
www.theHuffmanGroup.com
www.PrescottRealEstateRoundUp.com
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