It is no secret that it is a buyer’s market out there, great news for Prescott area home buyers, not so great for sellers. Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

There are a few difficult things about being a seller today. A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not. What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt. If trying to sell your home it is a wise idea to have your home inspected before listing your home. This way you can make the necessary improvements and will avoid being surprised by unexpected requests. Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Prescott, AZ area Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time.

Tim Anderson, a Prescott AZ Realtor, can help you search for Prescott AZ real estate or give you advice on selling your Prescott AZ home.  Tim Anderson can be contacted at (928) 308-9595 begin_of_the_skype_highlighting              (928) 308-9595      end_of_the_skype_highlighting or by email.

Online Prescott MLS Search | Find Your Perfect Prescott Home

]]> http://blog.prescottfinehomes.net/2010/05/11/selling-a-prescott-az-home-in-a-buyer%e2%80%99s-market/feed/ 0 http://blog.prescottfinehomes.net/2009/07/12/prescott-az-real-estate-market-review-for-july-1st/ http://blog.prescottfinehomes.net/2009/07/12/prescott-az-real-estate-market-review-for-july-1st/#comments Mon, 13 Jul 2009 01:30:45 +0000 tanderson http://anderson.realty-buzz.com/?p=401

Goldwater Lake, AZ (courtesy of Jeremy Pierce on flickr.com)

The Prescott AZ real estate market review for the week ending in July 1st is still a strong buyer’s paradise.  Currently there are 2,315 homes for sale in the Prescott AZ area with 352 of those homes involved in foreclosure proceedings. 

Compared to the same Prescott AZ period last year, the median sales price of a home is down 18.2% or $55,769.  However the average listing price is up $645 compared to the same week last year for the price of $370,736. 

This is great news for buyers because of the seller’s apparent wiggle room on Prescott AZ home pricing. 

Tim Anderson, a Prescott AZ real estate agent, can provide Prescott home buyers and sellers with more information regarding the current Prescott AZ real estate market conditions.  Please contact Tim Anderson at 928-308-9595 or by email.

It’s no surprise that Prescott real estate statistics are down somewhat for 2008 – some parts of the local market were hit harder than others.  Although the idea of purchasing a Prescott Arizona home may make you nervous with current economic conditions, keep in mind that it may just be the perfect time to buy.  Interest rates are at all time lows and it’s certainly a buyer’s market.

Here are a few of the highlights from the Prescott 2008 real estate market:

• Site-Built Single Family home sales suffered the least in the Prescott market, off only 15% from 2007 numbers. 
• The most popular price range for single family home sales was $200,000 to $249,999 with 20.74% of all sales in this bracket.  The next closest was the $250,000 – $299,999 range at 14.74%
• Condo and townhouse sales were down 36% and 22% respectively from 2007 numbers
• The average home sold was a 3 bedroom, 2 bath unit
• Although sales numbers were down, average list to sales price held stead at almost 95% for the year.  Average list price was $272,915 and average sales price was $258,513.  Average Days on Market was 166.
• Total monthly listings peaked in June of 2008 with 3,701 homes on the market, in 2007 homes on the market peaked in July with 3,721 listings available.  These inventory numbers remained very comparable from year to year.
• Total sales dollar volume for 2008 was $514,698,410, in 2007 it was $731,215,630 thanks to a higher average sales price of $291,437

Don’t forget, Prescott has been named one of the best places to retire for a few years running.  There is something for everyone in Everybody’s Hometown of Prescott, AZ!

For more information about Prescott real estate please contact Tim Anderson or feel free to use our complimentary Prescott Area MLS Search.