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Four Things That Influence Phoenix Property Values
What is the value of your Phoenix property? What makes up the price someone will pay for it?
Value is established by the demand of the buyers for the product within the constraints put upon the buyers and the availability of the product: the house.
There are several factors that impact heavily on the value and to some extent the components that make up the value are within the seller's control and others are beyond the seller's control.
Condition - Fully in the seller's command. In the majority of market buyers prefer Phoenix homes which are move in ready and they are willing to pay for it. Given the other constraints this is one thing you can control. Pre-listing repairs and staging are some of the things you can do to make it more attractive. Don't overlook the condition of the exterior also, both the house and the landscaping back and front.
Price- Price is one thing fully in your control. If you skimp on condition you can make up the difference by reducing the price. But, be aware that in today's marketplace the most favorable homes are in move in ready state and get a premium price or they are total fix ups and purchased by deal seeking investors: homes in the middle don't sell well anyway.
Size- You cannot influence size so much without extensive remodeling, but you can control how the house feels. Often with the right staging a Phoenix property can feel much larger and open than it is. A large size may also be undesirable in the wrong neighborhood. Price sensitive clients will often opt for a smaller home to prevent high utility bills. Most important is the size of the kitchen, master bedroom and the number of washrooms: 2 being the ideal minimum.
Location- You can't control location so customers should be aware of the locations impact on future sales potential. Even within a good neighborhood a home next to a large street of commercial lot will sell last and cheaper then other identical homes.
Apart from location, most other factors that comprise the value of your Phoenix real estate can be controlled.
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