Thinking about selling your Scottsdale home? Typically Spring is the time of the year you'd be putting it on the market. But if you're like most people, there's probably a lot of things you need to do in order to get your Scottsdale home in shape to sell. So why not use the winter months to get some things done and get your home ready for the Spring selling season in 2015? Here are a few cost-effective tips to jump-start your home selling journey.
Tips to Get the Most for Your Scottsdale Home
Hire a Professional Organizer for Your Scottsdale Home
Many cleaning companies offer organizational services in addition to helping you clean. Having a professional organizer come in will allow you to create space and generate a sense of flow in your home, which is attractive to potential buyers.
Deep Clean Your Scottsdale Home
You may think your Scottsdale home is clean, but there's nothing like the magic of walking into your house after a thorough, professional cleaning has been done. Get this done early in the winter to give yourself a clean (no pun intended) slate to work with, and then do it once more right before you list your Scottsdale home. In addition to organizing, a thorough, deep cleaning, is a must do item.
Consider Painting Your Scottsdale Home
Painting is not something most people look forward to, but it does wonders for the appearance of your home for very little cost. Stay away from bold, distracting colors. Instead, choose neutral shades that will appeal to a greater number of people.
Quit smoking inside your home at the very least. Kicking the habit is great for your health, but if you're not ready to clean up your lungs just yet, stop smoking inside of your house as soon as possible. Going outside to light up during the winter months might even help you quit faster than you would have anticipated.
Sweat the Small Stuff
Small things, like new light switch covers, may not seem like they would make a big impact. But new details like this can really make a house pop. Any covers that show cracks, chips or damage can put off a buyer. Damaged switch plate covers can increase the risk of fire or electric shock. Make sure to follow all safety precautions when doing any electrical work on your Scottsdale home.
Spruce Up Your Yard
If the weather allows it, do some landscaping during the winter months. A little curb appeal always helps boost interest. Regardless of the weather, you certainly should pick up your yard, especially if you have kids. Pick up all of the toys, put away the kiddie pool, even pack up the trampoline and sell it or put it in storage. People want to see the potential of the space, and all of your "stuff" can block that for them.
There are many ways to boost the value of your Scottsdale home before you put it on the market, but these are a few cost-effective things you can take care of during the winter months.
We have more articles to help in the process of selling your Scottsdale home over in the Scottsdale Home Selling Tips section of articles, as well as additional home improvement tips in the Scottsdale Home Improvements section, both under our Scottsdale Real Estate Categories to your right.
The RealtyTrac U.S. Home Equity and Underwater Report for the third quarter of 2014 released recently shows there were fewer Scottsdale underwater properties. 8.1 million U.S. residential properties were still seriously underwater—where the combined loan amount secured by the property is at least 25 percent higher than the property's estimated market value—representing 15 percent of all properties with a mortgage and an estimated $1.4 trillion in negative equity.
The third quarter negative equity numbers showing Scottsdale underwater properties were down to the lowest level since RealtyTrac began reporting negative equity in the first quarter of 2012.
In the previous quarter nationwide, 9.1 million residential properties representing 17 percent of all properties with a mortgage were seriously underwater, and in the third quarter of 2013, 10.7 million residential properties representing 23 percent of all properties with a mortgage were seriously underwater.
The recent peak in negative equity was in the second quarter of 2012, when 12.8 million U.S. residential properties representing 29 percent of all properties with a mortgage were seriously underwater.
The decrease in Scottsdale underwater properties is promising but the estimated $1.4 trillion in negative equity nationwide means that the flood waters are not receding as quickly across the country as they were before, even though Scottsdale underwater properties are down slightly, corresponding to slowing home price appreciation. Daren Blomquist, vice president at RealtyTrac said, "slower price appreciation means the 8 million homeowners seriously underwater could still have a long road back to positive equity."
Get more tips and articles regarding the Scottsdale housing crisis by checking other articles we have for you in the Scottsdale Real Estate News to your right under our Scottsdale Real Estate Categories.
The confidence level towards Scottsdale real estate is on the rise according to the latest Zillow Housing Confidence Index. Homebuyers generally feel more positive about the Scottsdale real estate market now compared to the beginning of the year. The index was 63.7 in January, but increased to 64.2 during the summer.
The Housing Confidence Index is measured on a scale of 0 to 100, and readings above 50 show a positive market sentiment. Sub-sectors within the index look at buying and selling conditions, predicted changes in home values, market trends, home affordability, home buying plans and attitudes towards home ownership. Residents in the areas surveyed reported increased overall confidence in the Scottsdale real estate market.
Younger Renters See Themselves Buying Scottsdale Real Estate
Younger renters were most optimistic about their future home buying prospects, and some 82% of those aged between 18 and 34 were pretty confident they would be able to buy their own Scottsdale real estate someday. In comparison 64% of those aged 34 to 49 felt this way, and just 48% of those aged 50 to 64 thought they'd be able to buy their own Scottsdale home.
The younger generation also have a much more optimistic view about the Scottsdale real estate market in general, and a 33% expected property values to rise more than 6% annually over the next 10 years compared to just 21% of middle-aged respondents, and 15% of those falling into the older age group.
Although strong aspirations are no substitute for financial capacity or credit worthiness on a mortgage loan application, feedback from millennial renters is significant because it confirms that they bear relatively few psychological scars from the housing bust, and because the attitudes of this generation will drive housing trends in the decades to come.
Experts point out we need this generation to feel confident about home ownership, and we should want them to buy regardless of the fact that they may initially struggle to purchase a home.
Follow news on the Scottsdale real estate market and the housing industry overall by periodically checking back in the Scottsdale Real Estate News section of our website under Scottsdale Real Estate Categories.
Scottsdale home prices increased in August, yet the pace of these gains continues to slow, helping to improve affordability for potential buyers.
Real estate data provider CoreLogic said recently that Scottsdale home prices rose 6.4 percent in August compared with a year ago. That marks a decline from an annual gain of 6.8 percent in July. Scottsdale home prices had been rising as much as 12 percent yearly toward the end of last year.
Scottsdale Home Prices Not Adjusted for Seasonality
Prices rose 0.3 percent in August from July. But CoreLogic's monthly figures aren't adjusted for seasonality, such as buying that occurs during warmer weather.
Sales struck a plateau in the middle of last year and have remained subdued for much of 2014. As sales have slowed, so have price gains. That should eventually make it easier for would-be buyers to afford a Scottsdale home.
As the pace of price gains has slowed, so have sales of existing homes.
Home Prices Dropping Nationwide Too
Nationwide, the National Association of Realtors reports that purchases fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August. Sales fell from a July rate of 5.14 million, a figure that was revised slightly downward. Overall, the pace of home sales has dropped 5.3 percent year-over-year.
Economists associate annual sales of 5.5 million with a healthy market.
The NAR also said that median sales prices had risen 4.8 percent over the past 12 months to $219,800, but that average slipped slightly in August compared to prices in July and June.
Follow news on Scottsdale home prices and the housing recovery right here by periodically checking back in the Scottsdale Real Estate News section of our website under Scottsdale Real Estate Categories.
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