If you’re thinking about how to sell your house in Arizona, welcome to the club. Many Grand Canyon State homeowners are trying to capitalize on the housing market right now: Data from the Arizona Association of Realtors shows that the number of listings in the state has increased by nearly 15 percent versus the same time last year.
However, while home prices in Arizona surged during the pandemic, selling isn’t as easy now as it was in 2021. Buyers are frustrated with higher mortgage rates, and the increase in homes for sale is leading to more price drops. In fact, 44 percent of listings decreased their asking prices in June of 2022, according to Redfin.
How can you get your home ready to sell — and avoid having to reduce the price tag? Read on for a complete rundown of how to sell a house in Arizona.
Are you ready to sell?
You might be wondering whether you should sell now, or wait to see if you might be able to get even more later. If that’s your thinking, take another look at the stats above: The hot seller’s market in Arizona is starting to cool, and waiting longer may not be the best move.
However, that doesn’t mean you should rush. If you want to sell, be sure to have a plan in place for where you’re heading next. And if you’re trying to sell your house while buying another, be prepared for the potential frustrations of being a buyer in the current market. Be sure to consider the cost of living in the place you’re hoping to move, as well. And even if you’re staying in the same neighborhood, compare mortgage rates first to determine how much you will need to budget.
Preparing to sell
Once you’re comfortable with putting your place on the market, it’s time to get it in the best possible shape for prospective buyers.
Is it worth upgrading your home before you sell?
While it can be tempting to invest more money in your home before listing it, a dollar in doesn’t necessarily mean a dollar out. In fact, most expensive projects, like remodeling your entire kitchen, will not recoup their costs in the sale. Instead of undertaking a long, expensive project, think about these quick improvements that can boost your home’s value.
What should you repair before selling your home?
Think like a buyer: Are there any existing issues that would make you think twice about buying the home? For example, you probably wouldn’t be pleased to learn that …….