Tucson Listing Strategy for 2009
December 19, 2008
Post Tags: Tucson Real Estate
It isn’t too early to discuss the Tucson Real Estate Market for 2009. I’ve heard a lot of agents recommending to their clients to hold of on listing their homes until spring when it is expected the Tucson market will “pick-up”.
Do Not Enter When Flooded
It isn’t just Tucson agents that have been giving this advise. I hear it all across the country from real estate professionals planning for 2009 and trying to advise clients of the best time to put their home on the market.
Now I know this goes against conventional wisdom, but I think the best time to put your home on the market for 2009 is as soon as you are ready. If your home is ready to list the first of the year then I suggest you not wait till the spring.
Why?
I’ve been reading reports lately about how many people are holding off listing their home till the market picks up and sale prices have started to rebound. If/when that happens there is going to be another surge of listings flooding the market in the spring.
Buyers with low interest rates on loans and high inventories of homes on the market are going to be very picky again. I know sellers thinks buyers are only making low ball offers. That isn’t true. There are plenty of low ball offers out there and they are the ones which become the topic of stories like “You wouldn’t believe the offer we just got” or “They offered $100,000 less than asking and we are only asking $110,000″.
It is better to list your home before the inventories rise and there is a lot more competition.
What about all the foreclosures and short sales?
Aren’t these driving down the prices and buyers are all looking for those bargains? Some buyers are looking for those “bargains” but not as many as you might think.
- Many buyers don’t want to take 6 months to try and purchase a home, have a home inspection file mounds of paper work and wait and wait and wait, not to mention no seller property disclosure statement and many being sold “As Is”.
- Many buyers know that a short sale or foreclosed properties have a high probability of deferred maintenance.
- Many buyers want to know when they have their inspection and request repairs there is an owner that will actually respond and make repairs requested.
What Most Buyers Want
- There are a lot of buyer that want a home that has an owner that has kept the property maintained.
- They want to know they are working with a person that lives in the home and knows about the home.
- They want to see a Seller Property Disclosure Statement to learn about the home from those who have owned and lived in the home.
- They want to see a home that is lived in, well kept, and shows like a model.
What is Ready
Look at the what most buyers want list. This is where you can shine. You can have all these things done and present your home like a model ready to move in. The other day I said “The stars shine the brightest the darker the night“.
With a lot of homes on the market as short sales, foreclosures and many with maintenance issues a home that is well maintained, and ready to show is going to stand out from the rest.
This is why I think NOW is the time to get your home ready if you intend to list it and right after the first of the year get it on the market.
Pictures, Pictures, Pictures
Bright Colorful Tucson Home
Great Photos of your home are a MUST. This is one of the reasons we spend so much time photographing our listings. It also doesn’t hurt that I’ve been a photographer for over 30 years. Photography is my hobby and I’ve done it professionally from time to time as well. Photography is more than just my hobby, it is my passion. I think anyone ready this blog and seeing the photo blogs I have will already recognize this.
Along with Great Photos, a great web presence is also important. Just so happens I also build websites and blogs for all our listings. I wrote “Using the Web to Market Tucson Real Estate” back in November. The stars shine the brightest the darker the night.
When to list your home is a personal decision. But if you are waiting till the spring thinking that will be a better time you might want to do more research. And if you have one of those homes that already looks like a model. . .
December 19th, 2008 at 2:11 pm
Dave,
I think agents forget sometimes how they get paid. Why in the world would you tell a client to wait to sell their home? The market will not be better in the spring. The market may be declining or flat for 3 to 5 years. We have over 12 months of inventory on the market in the TAR MLS system right now. What crystal ball do these folks (agents) have to call the improvement in market conditions in the spring? Fear is why the agents say wait. Right now agents have bad news for sellers, painful and frustrating news. But that news is not going to get any better in just 3 or 4 months. You are spot on. List your home on the day you are ready to sell it plus you can avoid the rush of all those folks waiting for spring.
Happy Holidays!
Bryant
December 19th, 2008 at 4:03 pm
Bryant,
I think some agents, maybe most agent feel that prices will be higher once the new administration is in control. Many believe it is an attitude of fear which is driving the economy at the moment.
I don’t think agents are recommending clients to wait for any other reason than they think there is a change by spring in declining sale prices and consumer confidence.
You know what I think : ) Thanks Bryant for weighing in.
December 24th, 2008 at 7:51 am
A good many of the home sales in Bend Oregon are bank foreclosures and short sales. It looks like a good time to buy in your area.
December 24th, 2008 at 1:00 pm
Jim,
You must be a realtor. There is a chip inserted into Realtors when they pay their dues that makes them say “a good time to buy”
Have a great weekend (It is Christmas Eve) another way I know Jim is a Realtor : )