Posted On: April 1st, 2020 12:09AM
Hi Folks, Michelle Noel with AZ Valleywide's Home Talk Series!
Today's Home Talk Series is a continuation on our topic of selling. In this segment I'm going to discuss the main topic of Market Condition and all the elements that are associated with it.
Those elements of Market conditions include but are not limited to.... economic conditions, timing: as to when is the right time to put your home on the market, next a deeper discussion on interest rates and if there is any impact to the market, and finally is it a buyers or a seller's market?
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Subsequently... these and many other factors are stirring up the pot in both commercial and residential sales!
Also, rents have gone up on the residential side which is another positive indicator.
Q: When is the right time to introduce your home to the market?
A: The short answer is now!
Depending on price point there are time factors involved.
As of April 11 For Maricopa County for single family residence:
(excluding for this example:condo's, manufactured, land sales)
Did you know?
This is why it is so crucial to vet your agent. So you know who you are partnering with! (I will be covering this topic in greater detail in another video: things you should consider in hiring the right agent for you.)
The federal reserve has been increasing the interest rate, subsequently this is affecting buying power as it does impact the person's debt to income ratios.
If you truly are thinking about selling or buying - I highly encourage you connect with a lender. I have vetted strong competitive lenders here in the valley and by extension nationally. I can connect you with someone who will get you the information you need on financing.
This depends on location, where in the valley and price point! Predominantly though I will say it is currently a seller's market! Especially if looking at anything under $400k mark. If it's higher than that there is quite a bit more inventory.
Having the right agent is critical in exposing your home in the right way to the right audience.
Who are the buyers:
There are many factors to consider; I am happy to navigate this very exciting real estate market of ours here in Maricopa County with you.
This concludes this segment of Market Conditions.
Join me in the next video discussing My Home will it Sell and for how much?
Thank you so much for joining me on this segment of azvalleywide's Home Talk series - if you want to connect with me or want to sign up for informative market updates - connect with me on my website www.azvalleywide.com. or Reach out directly (480) 238-9043 or Facebook Messenger
azvalleywide's Home Talk
I hope you have an awesome day!