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Why Overpricing Hurts Sellers in the Eend
Overpricing your home is a bad idea for several reasons. Perhaps most importantly, it can lead to your home sitting on the market for an extended period without receiving any offers. Waiting with no offers to buy can frustrate homeowners eager to sell.
In addition to leading to a longer sales process, overpricing your home can result in you selling for less than you could have if you had priced it more accurately from the start. This is because buyers interested in your home will likely be put off by the high asking price and may choose to purchase a different property that better fits their budget.
Occasionally, sellers believe pricing your home on the high end is an acceptable risk. Below are a few arguments sellers give to their rationale and why this line of thinking is problematic when selling a home.
- “I can always come down in price later if I have to.”
Yes, someone may find the house irresistible and pay the inflated price, but the odds are the home will languish on the market until the price comes down. Buyers, though, will see this from a different perspective. They’ll be thinking: What’s wrong with the property? Maybe I can get this house for significantly below market value.
- “I must keep the price high for negotiating purposes.”
A house isn’t a used car. Don’t start far above an acceptable price to pad out the negotiations. Buyers will have access to the same market data, and their agents will have a pretty good idea of the home’s actual market value. The ruse will quickly come to pieces, so why not select a price suitable for a quick, fair sale?
- “This is the price I need for my house.”
If there is indeed a price that a seller cannot go under, sellers should also be prepared to stay put when the house doesn’t sell. Sadly, the market is indifferent to the seller’s situation, and other homes are typically available on the market.
- “A house like mine sold for this price… so why not mine?”
Sellers will assume houses are identical. Typically, there are other outstanding reasons the home sold is above market value, especially regarding interior renovations.
It’s essential to be realistic when pricing your home, especially if you have an amount you must receive from the sale. If you price your home too high, it will likely sit on the market for a long time without any buyers. An extended time on the market can cause you to miss out on other opportunities, such as buying your dream home. It’s essential to consult with a real estate agent to get an accurate estimate of your home’s value so you can price it appropriately.
We genuinely understand the emotions and factors involved in finding the correct selling price for your home. We can help. We have numerous tools and ways to analyze the market to help you arrive at an accurate listing price. We feel that this is a price that will get the property sold quickly. When you are ready to talk numbers, we will be happy to give you an accurate valuation for your home. Give me a call 928-277-6404.
Finding the Right Real Estate Agent
The decision to buy a new home is a thrilling adventure filled with possibilities, but it can also be a complex process. Amidst market fluctuations, legalese, and the myriad of personal preferences that go into searching for the perfect abode, a trustworthy real estate agent can be your guiding star. But with so many agents, how do you find the one who will genuinely have your best interests at heart?
1. Is the agent’s top selling point the fact they offer a lower commission? If an agent is eager to buy your business by promising to work for less than the competition, be wary. Professionals are compensated for hard work, and a true pro won’t make commission cutting their go-to reason for representing you in the sale of your home.
2. Is the agent’s proposed listing price for your home way higher than everyone else? It can be sweet to hear, but sometimes sweet things are poisonous. In the business, this is called “buying a listing,” it usually works this way: An agent says your home is worth more than it is to get you to sign with them. Then, as the house languishes on the market, the agent will begin discussing price reductions. Instead of a quick sale for a fair price, you endure the heartache and expense of a home that takes longer to sell.
3. How is the agent marketing their current listings? Ask to see some listings for homes they are representing right now. Are the photos terrible? Does the advertising copy for the home sound generic and unhelpful? Have all the homes experienced price reductions? How do the homes compare to other listings online? Can you find the home online easily? The agent is suddenly going to be working harder on your listing. How they’re treating their current listings is how they’ll treat yours.
4. What comes up when you Google the agent’s name? You may need to add “realtor” or “real estate” if it’s a common name. What comes up? Do they have a website? If nothing shows up, that’s a bad sign. Are they in the business or not? Can you find them on social media like Facebook? Have they updated profiles on Zillow / Trulia? If they’re a ghost online, beware. After all, that’s where buyers are starting conversations about buying!
Other Tips To Consider When Selecting an Agent:
Tip 1: Understand the Agent’s Role
A real estate agent’s role is more than showing you homes. They should act as your advisor, negotiator, community expert, and more.
Tip 2: Local Expertise is Key
Location, location, location – it’s not just a cliché; it’s crucial. A good agent must intimately understand the neighborhoods you’re interested in.
Tip 3: Licensing and Certifications Matter
Real estate laws and regulations can vary by state and are frequently modified. Proper licensing requires your agent to be up-to-date with current licensing and certifications.
Tip 4: Look for Experience and Track Record
In a competitive market, experience is invaluable. An experienced agent can offer insights that a newcomer might be unable to access. Check their reviews for evidence of successful sales and satisfied clients.
Tip 5: Compatibility is Critical
Your real estate agent will be a close confidant during the home-buying process. Finding an agent with whom you feel comfortable is worth the time.
Tip 6: Technology Savvy Agents Save Time
Technological tools can significantly enhance the house-hunting process. Ask potential agents about their strategies for using online listings, social media, and digital tools to find the best homes.
By heeding these tips, you can significantly increase your chances of finding a real estate agent who meets and exceeds your expectations. Remember, the right agent can transform the daunting task of buying a home into an experience you’ll cherish for years.
I would love to help you buy your next home! Contact me at (928) 277-6404
House-Hunting Tips
Finding a house can feel like navigating a maze. The rapid changes and competitive nature of the real estate market can make house-hunting daunting. However, with the right strategies, you can simplify the process and find your dream home. Whether you’re a first-time homebuyer or looking to upgrade, this guide is packed with practical tips and insights to help you succeed in your quest for the perfect house.
House Hunting Tactics
1. Know what you can afford. A price range usually narrows the field considerably. If you need help determining how much you can afford, ask an agent to help you work through that math. Getting pre-qualified with a mortgage company can also help you find the answer to this question.
2. Know where you want to live. Understanding walk scores, commute times, and the school district’s quality can significantly impact your choice. The Prescott Quad Cities has numerous subdivisions, each with unique features and amenities.
3. Know what type of home you want. How much room do you need? What do you envision for your future? Do you love gardening, or would you rather never worry about a lawn? Do you work from home? Do you want a historic home? Is a new construction your dream? First, know what you can afford, then look at your desires and priorities.
4. Give yourself plenty of time at showings. Open drawers and cabinets, and walk around the yard area as well. You may want to see as many homes as possible in a single day or weekend, but feeling the crunch of the clock can keep you from thoroughly inspecting the house and getting a feel for the property.
5. Sign up for property alerts. Homes always pop up on the market; you will want to know when they do. Sign up on our website for alerts when a home meeting your parameters becomes available. Enter your search criteria, and after viewing the results, select ‘Save Search’ and enter your contact information. This step may give you the competitive edge to secure your home.
6. Tell friends and family what your search criteria are. One of the best times to find your home is before it’s on the market. Friends, family, work associates, and their network of friends may know someone thinking about selling just the sort of house you want. Ask around!
House-hunting can be challenging, but with these tips, you’re better equipped to find your dream home. Remember to stay patient, flexible, and informed throughout the process. Happy house-hunting!
Ready to start your house-hunting adventure? Connect with Mary Tarrant today for personalized support and guidance. Your dream home is just a few steps away.
Mary Tarrant
928-277-6404
Helpful Tips to Declutter Your Home
How to Declutter Your Home
Preparing your home to sell requires presenting a house attractive to buyers. Decluttering is a must, especially if you’re going to be living in the home while it’s on the market and you’re choosing not to stage it. Decluttering will help you potentially sell your home faster and for a better price. It can feel overwhelming initially, but the decluttering process can be broken down into manageable steps.
1. Take photos of what you’re up against. You might think things look pretty good until you see your home with the camera’s unflinching eye. Photograph every room from multiple angles, and you’ll begin to understand what buyers will see. Don’t forget to snap the closets, laundry rooms, and garage.
2. Plan a room-by-room attack. The preparation process doesn’t have to be done in a day, a weekend, or even a week. Depending on your timeline, tackle as much or as little as you can reasonably manage before burning out. If you attempt too much at once, you may make unfortunate compromises about what stays and what goes.
3. Use a checklist. When assessing a room, list what needs to be addressed and then the order in which it makes the most sense to do it. Visualizing the process will prevent you from wasting time.
4. Be ruthless. Look at the clothes you haven’t worn in years, the piles and boxes in the garage you haven’t opened, and the shelves of unread or dispensable books.
5. Stay motivated. Tell yourself: Less is more. Remind yourself: Every box that goes to Goodwill is a box you won’t have to lift, relocate, and unpack on moving day. The filtering process is an opportunity to refresh your life!
6. Pile it up. Sort things into “give away,” “throw away,” and “sell.” Some items can go to friends, and others can go to charity.
High-Traffic Areas
Once decluttering is underway, here are some tips on what to focus on in the high-traffic areas of your home:
Front Yard: When you are preparing to sell, it is easy to forget your home’s outside curb appeal. If you have children, remember to organize and declutter the outdoor toys.
Entryway: The first impression of the inside of your home will be your entryway. Our entryway in my house is where we hang our coats and take off our shoes. If your entryway is the same way, go through your shoes and coats, and make space for potential buyers to hang their jackets when touring your home.
Pictures: For potential buyers, declutter the artwork, photographs, and hanging hooks, especially in hallways. Fewer items will create a clean, crisp look.
Kitchen, living room, bathrooms, and laundry room: I’ve categorized these rooms together because they all have a similar decluttering tip. The motto is ‘clean and clear.’ For the living room, remove magazines and excessive pillows and organize bookshelves. For the kitchen and bathroom, keep the countertops empty and clear. Lastly, all cleaning products for the laundry room should be put away to create a clean space.
I hope this helps you with the decluttering process. Once you’re decluttered and ready to sell, contact me! (928) 277-6404
How to Woo Sellers with Personalized Offers
If you’re home hunting in a competitive market, you’ve probably had the heartbreaking experience of losing out on the perfect house. It can be incredibly frustrating to find out the seller rejected your offer in favor of another buyer. How can you do your best to ensure it doesn’t happen again?
When a seller entertains multiple offers, it’s essential to understand that many factors are in play. You tend to have an advantage if you’re an all-cash buyer, as cash removes potential financing roadblocks. But if you’re like most people, paying cash for a house isn’t an option. What do you do then to make your offer competitive?
First, ensure you have 100% of your financial house in order. When financially prepared, you have pre-qualification for a mortgage and proof of funds. Being organized and ready to go will give you a slight edge from the start. Also, be sure you work with an agent who is highly responsive to requests. Sellers don’t need to wait for agents to provide necessary information when multiple offers are landing in their inbox.
Beyond these factors, there’s another way to boost your offer’s profile: Personalize it.
While most sellers want to go with someone who will pay the most for their home, you should never discount the emotional dynamic of the home selling and buying experience. Though sellers are ready to move on, they often want to feel like their home is going to someone who genuinely appreciates it and needs it.
Work with your agent to craft a personal letter explaining why you love the seller’s home. What features do you love? How will this home help you personally, professionally, or with your family’s needs? Include a photo of yourself and your family. Have pets and kids? Bring them into the picture! Putting a human face on the offer can transform your offer from one more name in a pile of numbers into a genuine person worthy of living in the seller’s home.
Tips to Keep in Mind While Writing Your Letter
Build a Connection: Look for a connection you and the seller share. This connection could be being in the same line of work or noticing a hunting sign. Build on that connection.
Keep it Short: Don’t write a novel. Share your point, build a connection, and explain why you’re the best buyer.
Leave Out Remodeling Plans: If you plan on remodeling, be mindful of the seller’s protectiveness over their home. Even though they are selling their house, they still have emotional attachments to different areas of their home. They may not be fond of knowing that you want to destroy parts of it.
Have your agent personally deliver the offer. Most offers will be electronically transferred and dumped into a crowded email inbox. While an electronic offer can be convenient, providing a beautifully prepared package with a personalized letter and picture can impact the seller.
I will go the extra mile to help you attain your dream home. Get in contact with me today: Mary Tarrant (928) 277-6404
‘Needs’ vs. ‘Wants’ When Buying a Home
With the low inventory of homes in today’s housing market, finding a home that checks all the boxes can be challenging.
However, if you can separate the ‘needs’ from the ‘wants,’ you’ll have a higher chance of landing the home that fits your needs. Chief Economist for realtor.com, Danielle Hale, states that:
“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget. . . Stick to that. Be persistent.”
How to Begin
When searching for a home, the first step is to get pre-approved. You want to avoid falling in love with a home that is too far out of reach. Getting pre-approved helps you better understand your budget, which is vital when creating your list of must-haves and nice-to-haves.
After understanding your budget, begin listing the features of a home that you would like.
Here’s a great way to think about them before you begin:
Needs
- ‘Needs’ are features that a home must have if it is to work for you and your lifestyle. Examples include the school district, distance from work, family and friends, and number of bedrooms/bathrooms.
Wants
- Wants are features that would be great in a home but are manageable. Examples of nice-to-haves include a two-car garage, a fireplace, a finished basement, etc.
Dream State
- Dream state features are things that you dream about. They may be unrealistic for your budget or the current housing market, but it’s fun to consider! If you find a home in your budget with all the ‘needs’ and most of the ‘wants,’ it’s a clear winner. Examples include a built-in pool, gourmet kitchen, etc.
After creating this list, it’s time to sit down with a real estate advisor. They will help you navigate the market and find homes that fit as many of your needs and wants as possible.
Crafting your home search checklist may seem small, but it can save time and money. It’s also one key to success in today’s competitive market. Let’s connect so we can work together to find a home that fits your wants and needs.
If you can keep your goal in mind and be persistent, you will find the perfect home for you and your family.
Let me help you find your perfect home! Mary Tarrant (928) 277-6404
Top Horse-Friendly Neighborhoods in Prescott Arizona You Need to Know
For horse owners looking to relocate, finding the perfect place where you and your equine friends can thrive is paramount. Prescott, Arizona, is a hidden gem for horse enthusiasts, offering picturesque landscapes and numerous horse-friendly neighborhoods. In this blog post, we aim to guide you through the best subdivisions in Prescott that cater to horse owners, highlighting their unique features and the benefits they offer. By the end of this article, you’ll understand why Prescott is a top choice for horse owners and which neighborhoods should be on your radar.
Why Prescott, Arizona, Is Ideal for Horse Owners
Perfect Climate
Prescott boasts a mild climate that makes it ideal for year-round horse activities. The summers are warm but not scorching, while winters offer a break from extreme cold without compromising riding conditions. This balanced weather allows for consistent outdoor activities for your and your horses.
Scenic Beauty
Nestled amidst mountains and forests, Prescott offers breathtaking views that make every ride scenic. The open spaces and trails provide an excellent environment for horse riding, ensuring that you and your horses stay engaged and happy.
Community and Amenities
Prescott is home to a vibrant horse-loving community. With numerous equestrian events, clubs, and facilities, you’ll always feel connected. Whether you are looking for fellow riders to join you on the trails or seeking advice on horse care, the community is welcoming and knowledgeable.
Popular Williamson Valley Equestrian Subdivisions
Granite Oaks
Granite Oaks in Prescott, Arizona, is located at the base of Granite Mountain in the Williamson Valley corridor, near Williamson Valley Road and Bard Ranch Road. The subdivision of upscale custom homes borders state land and has access to acres and acres of endless riding and hiking trails. The home sites range from 1 to 3 acres, offering lots of privacy and horse privileges. Enjoying country living only a few miles from downtown Prescott is one of many reasons people fall in love with Granite Oaks.
American Ranch
American Ranch subdivision in Prescott is located just a few miles north of downtown Prescott. It offers outdoor adventure, multiple amenities, and homes ranging from one to five acres each. The homes in this subdivision are custom-built and designed to view the gorgeous mountain and forest views! American Ranch offers amenities, including a $3m Equestrian Center, fitness/exercise center, outdoor heated pool, spa, tennis, basketball, and a catch and release bass fishing lake!
Crossroads Ranch
Crossroads Ranch, located approximately 20 miles north of Prescott, Arizona, along popular Williamson Valley Road, is surrounded by beautiful scenery. It is a 5,000-acre Equestrian Community with home sites ranging from 4 acres to over 100 acres. Wildlife loves this prestigious community. Antelope, javelina, deer, elk, and bobcats enjoy the natural landscape of these rolling hills covered with pinon and juniper vegetation.
This elite community offers country living with all the conveniences of modern living, including underground utilities and paved streets. Many home sites are still available to build your dream home.
Williamson Valley Ranch
Williamson Valley Ranch in Prescott, Arizona, is a prestigious, private neighborhood conveniently located just ten short miles north of Prescott. This equestrian subdivision features beautiful, unique custom homes. Many homes use total solar energy; some use contemporary design, while others use classic ranch style. Homes range from 1100 sq ft to over 6000 square feet, with lots ranging from 3 to 8 acres. There is plenty of room for the kids, toys, and horses! You’ll enjoy country living at its finest in Williamson Valley Ranch, with paved roads, underground utilities, and riding and hiking trails nearby. See homes for sale in Williamson Valley Ranch
Conclusion
Prescott, Arizona, offers a variety of neighborhoods that cater to horse owners, each with its unique charm and benefits. Whether you prefer the luxurious amenities of American Ranch, the natural beauty of Williamson Valley Ranch, there is a place for you and your horses in Prescott.
Exploring these neighborhoods can help you find the perfect home that meets all your needs. Embrace the equestrian lifestyle and discover why Prescott is a top choice for horse owners. If you’re ready to take the next step, consider visiting these neighborhoods and experiencing their unique offerings firsthand.
Ready to find your perfect horse property in Prescott? Contact me today at 928-277-6404 to start your journey today. Happy riding!
Things to Avoid After Applying for a Mortgage
Getting approved for a mortgage is a big accomplishment for anyone. It means you’re ready to take on the responsibility of homeownership, but it’s important to remember that taking out a mortgage is not the end of the journey – it’s just the beginning. After you’ve been approved, you may be tempted to make big purchases or change jobs, but doing so could jeopardize your chances of closing on your new home. This blog post will discuss things to avoid after applying for a mortgage.
Do not change jobs!
A lender’s favorite word is stability! Stability includes a consistent employment history, and a job change can often cause loan denial or, at the very least, a delay in processing. If you plan on making a job change, do it before you begin the mortgage application process or after you close. Remember that lenders generally require you to be at your job for at least two years to qualify for a loan.
Do not make any large purchases!
A mortgage lender will pull your credit report at different stages of the loan process: when you first apply and before closing. Making large purchases between these stages could change your debt-to-income ratio and affect your ability to close the loan. So, no new cars or appliances until after you close your home!
Do not apply for new credit, and don’t close any credit accounts!
During the mortgage process, your credit score is subject to change. New credit applications can lower your score, and closing existing accounts can also negatively affect you. So again, no new cars or credit cards until after you’ve closed on your home!
Do not change your bank account!
Lenders like to see stability in your bank account, so resist the urge to close or open any new accounts while you go through the mortgage process.
Do not make large deposits!
Depositing a large sum of money into your bank account can cause concern for lenders. If you have a windfall, such as an inheritance or a tax refund, speak to your lender beforehand to find the best way to handle it.
Do not co-sign any loans!
Co-signing a loan for someone else can affect your debt-to-income ratio and may cause problems with your mortgage loan. So, if possible, avoid co-signing any loans while you’re in the middle of the home loan process.
In short, the best thing you can do after applying for a mortgage is to stay the course! Keep up with your payments, don’t make large purchases or changes, and avoid opening or closing accounts. Doing so will help ensure a smooth and successful mortgage process. Have real estate questions? Give me a call, and I’d love to help!
928-277-6404
Horse Properties in Prescott
Are you looking for a place to live with your horses in Prescott, Arizona? You are in luck; there are numerous horse-friendly communities in our beautiful area. After you look at the list below, give me a call, I would love to help you find a home for you and your horse. Mary Tarrant (928) 277-6404
- Granite Oaks: Granite Oaks in Prescott, Arizona, is located at the base of the Granite Mountain in the Williamson Valley corridor, near Williamson Valley Road and Bard Ranch Road. The subdivision of upscale custom homes borders the state land and has access to acres and acres of endless riding and hiking trails. The home sites range in size from 1 to 3 acres offering lots of privacy and horse privileges. Being able to enjoy country living while only a few miles from downtown Prescott is one of many reasons people fall in love with Granite Oaks.
- American Ranch: American Ranch is a prestigious community located just a few miles north of Prescott in the Williamson Valley corridor. This popular World Class Master Planned Equestrian Community neighbors the Prescott National Forest. There are approximately 240 homesites in American Ranch. Homes are custom built, taking advantage of the breathtaking mountain views, sitting on 1 to 5-acre parcels. Residents enjoy a $3m Equestrian Center, fitness/exercise center, outdoor heated pool, spa, tennis, basketball, and a catch and release bass fishing lake!
- Crossroads Ranch: Crossroads Ranch, located approximately 20 miles north of Prescott, Arizona, along popular Williamson Valley Road, is surrounded by beauty. Crossroads Ranch is a 5,000-acre Equestrian Community with home sites ranging from 4 acres to over 100 acres. Wildlife love this prestigious community. Antelope, javelina, deer, elk, and bobcats enjoy the natural landscape of these rolling hills covered with pinon and juniper vegetation. This elite community offers country living with all of the conveniences of modern living, including underground utilities and paved streets. The homes in Crossroads Ranch range from modern ranch homes with fertile pastures to incredible gated Custom Estates. There are many home sites still available to build your dream home.
- Williamson Valley Ranch: Williamson Valley Ranch in Prescott, Arizona, is a prestigious, private neighborhood conveniently located just ten short miles north of the city of Prescott. This equestrian subdivision features beautiful, unique custom homes. Many homes use total solar energy; some are contemporary in design, while others are classic ranch style. Homes range in size from 1100 sq ft on up to over 6000 square feet, with lots ranging in size from 3 to 8 acres. There is plenty of room for the kids, toys, and horses! In Williamson Valley Ranch, you’ll enjoy country living at its finest complete with paved roads, underground utilities, and riding and hiking trails nearby.
- Coyote Springs Corridor: The Coyote Springs Corridor is the section on the north side of 89A. This is a rural area, with the average lot ranging in size from 2 acres up to 10 acres. Homes in the Coyote Springs Corridor are within minutes of schools, shopping, the Prescott Valley Event Center, and the new Yavapai Regional Medical Center East Campus. Communities included: Coyote Springs, Mingus Meadows, Prescott Prairie, Antelope Meadows, and Poquito Valley.
- Prescott Ridge: One of the premier locations in the Prescott area is the gated community of Prescott Ridge. This beautiful development, surrounded by spectacular daytime vistas and nighttime starlit skies, will take your breath away. Featuring 10 to 54-acre parcels, which have a myriad of vegetation, including juniper trees & pinon pines, you can choose between open spaces of land for sale to secluded or private lots. Prescott Ridge is a fantastic location for horse owners or someone searching for that little piece of paradise for their new home. This upscale gated community also offers underground utilities & paved roads, value-protecting CC&R’s, and horse privileges.
Live in Luxury in Prescott Ridge
Enjoy Rural Luxury Living
One of the premier locations in the Prescott area is the gated community of Prescott Ridge. This beautiful development features parcels that enjoy mild seasons, rolling hills, spectacular sunsets, abundant wildlife, and 10-acre minimum home sites. The land has various vegetation, including juniper trees and pinon pines.
Prescott Ridge is a fantastic location for horse owners or someone who is searching for that little piece of paradise for their new home. This upscale gated community also offers underground utilities and paved roads, value protecting CC&R’s, and horse privileges (as well as plenty of room to ride).
Located on the western slope of Mingus Mountain, Prescott Ridge is just minutes from shopping and entertainment. The luxurious subdivision of Prescott Ridge offers excellent site-built custom homes. Many of the homes in this prestigious community are individually gated, allowing extra security for your home and RV and or trailer if you decide to park it on your property. Enjoy stunning views of Mingus Mountain, Bradshaw Mountain, and Granite Mountain from inside your home or from the comfort of a covered patio.
Prescott Ridge is only a short 12-minute drive to Prescott Valley, Arizona, minutes from schools, shopping, the Prescott Valley Event Center, and the new Yavapai Regional Medical Center East Campus.
