Many people that list their home on the market in the Phoenix or Tucson areas are fairly confident in their ability to find a buyer that will make a reasonable offer in a short amount of time. Unfortunately, it rarely works out that way. Some homes do receive offers very quickly, but even then it is sometimes the case that banks of Tucson and Phoenix that hold the mortgage will not be willing to look at any offer for the home, no matter how good. AllHomesAz.com has spent years studying the Phoenix and Tucson housing markets, and we have found that there are three main reasons that homes in Arizona do not sell.
The Home is Not Priced to Sell
Overpricing is one of the worst mistakes a homeowner can make, because it can cause the property to sit on the market for longer periods of time, which decreases the value. You have to look at the price other homes in your neighborhood have sold for and adjust accordingly. Then once you have a market price available, you can compare your home to others that have sold. A home with a better location and layout for features will bring in a better price for the seller. However, without a professional appraisal of your home’s value, you risk either overpricing or under-pricing your home.
The Listing Agent is Incompetent or the Advertising is Poor
Most people rely on a realtor to list and manage your home’s sale. However, if the agent is inexperienced, dishonest or lazy, you will lose more money and time than if you sold the home yourself. Remember to take the real estate agent’s commission into account when determining the cost of selling your home. In addition, if you have not paid for extensive advertising or have poor quality photos of your home, it may be overlooked by buyers in favor of more prominent listings.
Your Home Needs Repairs or Updates
If your Phoenix or Tucson home does not have a new air conditioning unit (within the last 5 years) and other modern energy efficient appliances, you probably will not be able to sell your home. Most first-time homebuyers or prospective buyers with families will not have the cash on hand to renovate your outdated home, which narrows the range of potential buyers you will attract. A dirty and worn-down home will also not appeal to the majority of homebuyers. If you have a rundown property that needs a total renovation, you most likely will be unable to sell the home to an independent buyer. This leaves you with the options of renovating the home by yourself and gambling on the chance of actually seeing a return on your investment, or selling the home to a house-flipper or an equity purchase company like AllHomesAZ.com. A house-flipper will most likely have less capital to purchase the home than an equity purchase company, and an equity purchase company will have experienced appraisers on call to give you a fair price.
AllHomesAZ.com is comprised of a team of real estate investors and is a proud member of the Better Business Bureau. Based in Phoenix, Arizona, we buy homes anywhere in the USA for cash. For a free home appraisal and consultation with one of our agents, call 480.227.5214 or contact us online.
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