Many or most should know we operate a successful Real Estate company in the model gallery. This agreement is through a “Use License†and allows us to be onsite and use the Shea Preferred name, among other amazing benefits. We can attend Shea’s sales, design, and construction meetings, plus we have access to information long before it hits the general public, including upcoming price and incentive changes. Clearly, NO OTHER Realtor or agent has this advantage. The biggest benefit of all is when the sales team introduces us to buyers on a daily basis. Real buyers, not buyers touring an open house looking for cookies (LOL). Curious? Do yourself a favor, reach out to any of our fabulous Shea new build agents and simply ask them, “What’s the relationship and how does it work?â€. You will be raving fan forever.
Staging, the absolute #1 most important factor in Real Estate!
At Encanterra we’re usually dealing with a buyer not facing their first buying rodeo. No, they won’t look past your personal belongings or individual creative designs. A home must be 90% free of personal items. Bathrooms need to be spotless, counters empty, landscaping fully trimmed top to bottom, garage needs to be baseboard to baseboard, finished garage flooring is always a plus, always good to eliminate furniture, move items around to make the rooms look open and inviting, all closets and pantry’s should be organized and spotless, many homes need a professional tile and grout cleaning, full painting to get in line with today’s color schemes, and many other fine details. Keep in mind nearly every buyer visits the models first before looking at resale. Want to sell quickly at top dollar? Reach out to your only full time onsite resale team located in the model gallery for more information regarding importance of professional staging.
The Price is Right
There are many important variables when getting ready to list your home. But one of the most critical things to consider is price and pricing it right the first time. Inside the gates of Encanterra, the resale market has entered more of a neutral state. As of today, we have 52 resale homes and that number continues to grow. Homes are sitting on the market much longer than last year. When a home is not priced properly, it will sit for awhile and become stale. Potential buyers might be thinking, “There must be something wrong with this home since it’s been on the market 200+ days?” When the market shifts like this, it gets harder to sell. A good agent can take your home to the next level in terms of staging, getting it market ready and selling it in the least amount time. Our team is all about the little details and it shows in all of our listings. Ben Leeson, owner and Realtor at Shea Preferred Realty Group was recently featured to the show Real Estate Pros. He sat down and shared some of our teams strategies on what we do differently. Whether you live inside or outside the gates of Encanterra, and you have been thinking of selling, reach out to our team and hear about what we can do for you.
Dual Agency; what is it & what does this mean for you?
Inside the gates of Encanterra, our Shea Preferred team has sold nearly 65% of our listings and closed over 228 sales. Yes, 228 sold Shea Preferred listings. This is a huge win/win for you the seller as it puts us in the driver’s seat for many factors relating to the transaction. If no agent is involved we eliminate an outside agent who perhaps is generally new to the area or has limited experience in the community. They rarely understand the HOA related fees, bring in home inspectors who have zero knowledge about solar or cathredralized insulation and often cloud the issues. They also work with outside lenders and title companies further complicating the process. Add the Encanterra issue of comps where they compare your 3 year old Shea Xero on open space to a standard lot and home that’s 9 years old and we have problems from the start. List with us and there is a 75% chance, according to the last 12 months, we will also represent the buyer as our walk in leads in the model gallery bring in an average of 50 buyers a week. We can then use our extremely experienced home inspector with over 50 Encanterra inspections, one of our preferred lenders if needed, our preferred title company that offers all our Encanterra related clients investor rates, add our onsite office that’s staffed 6-7 days a week and no need to go anywhere else. Please reach out to our team located across from the design center in the model complex. We always have pocket buyers looking for specific properties.
Lot premiums or choosing non-standard lots, is this a good move?
With over 25 years of true full time Real Estate experience in the entire valley and 1700 transactions here is our assessment. Buyers coming from other parts of the country are shocked to see block fences and homes 10’ apart. With land cost continuing to go up builders are forced into squeezing more homes per acre. As long as lot premiums are reasonable, and that’s subjective, then of course the value should always be there. All buyers want a non-standard lot but a large percentage do not see the value upfront. If not in your budget maybe consider an upgraded lot but back off 200 Sq. Ft or so of floor place to make up the difference or take a closer look at options that can be added down the road. We’ve never run into a past client who does not love some type of open space around their home. For more information and feedback reach out to our fabulous resale team located in the model gallery.
Phoenix Metro area-Market Snapshot March 2019
Starting with the basic ARMLS numbers for March 1, 2019 and comparing them with March 1, 2018 for all areas & types:
- Active Listings (excluding UCB): 18,959 versus 16,924 last year – up 12.0% – but down 0.4% from 19,040 last month
- Active Listings (including UCB): 23,197 versus 21,474 last year – up 8.0% – and up 2.4% compared with 22,655 last month
- Pending Listings: 6,119 versus 7,158 last year – down 14.5% – but up 22.1% from 5,012 last month
- Under Contract Listings (including Pending, CCBS & UCB): 10,357 versus 11,708 last year – down 11.5% – but up 20.1% from 8,627 last month
- Monthly Sales: 6,480 versus 7,067 last year – down 8.3% – but up 18.6% from 5,462 last month
- Monthly Average Sales Price per Sq. Ft.: $168.57 versus $167.59 last year – up 6.1% – and up 0.6% from $167.59 last month
Monthly Median Sales Price: $264,000 versus $252,000 last year – up 4.8% – and up 0.8% from $262,000 last month
The second half of February saw momentum building in the market, though it will need to build even more to catch up with last year when it was running on all cylinders.
Supply without a contract is up 8% from a year ago. However it has already declined between February 1 and March 1, something which usually only occurs in years when the market is doing rather well. That is just one of several good omens that suggest the weakness in demand that started in September is now dissipating.
Another positive sign is that sales increased by over 18% between January and February. This compares favorably with last year which gave us a 14.4% increase. The annual sales rate continues to fall, but the momentum of this trend is fading just a little.
Under contract listings grew over 20% since last month, Again this is better than in 2018 when the increase was 16.6%.
It is early days in the improving cycle so we should not get carried away with enthusiasm. Demand could fade again if we get a significant increase in loan interest rates. However, if this is signaled ahead of time, it could encourage buyers to make their minds up before the rates go into effect.
Anyone who is expecting prices to fall is likely to be very disappointed by the current state of affairs. Yes, asking prices are being cut at quite a high rate, but asking prices are often overly optimistic anyway, especially for homes that have just been listed.
Actual closed prices are looking very strong, as we can see in the numbers above. The mix is changing in favor of higher end homes too, since the low end below $200,000 remains chronically under-supplied. The usual upward cycle in average price per sq. ft. during the spring looks like it has turned up as usual in 2019.
The market looked uncertain at the end of January, but now we are seeing an upward trend in the Cromford® Demand Index and any day now we should see a mild declining trend in the Cromford® Supply Index. Both of these are good news for sellers and not-so-good for buyers.
Source: ARMLS, Cromford Report, Altos Research
Do you follow us on Instagram yet??
If you haven’t started following us on Instagram….you should check us out for your daily dose of beautiful Encanterra sites, Real Estate news, meeting new members, see what our buyers & sellers are saying about us & much much more! Just follow this link: Shea Preferred Instagram Link
Open this, Offer that, and direct buy companies, good deal for you?
Any time the market is on the uptick we see new ideas popping up. Here we go again. The top two listed above are the big ones. They offer you cash, promise the world, close when you want and state no staging, no inspections, etc. In order for these companies to survive, pay for repairs, paint, and other items most need, not a chance they can offer you more than 90% of the current value. If they pay agents on both sides, holding costs, repairs, and closing fees then this is near a 10% cost (9%-12% is the average). Of course there is always more to the story than the commercials and if you list with true professionals that stage, consult, have amazing photos, and a full service team there is no need to give your home away. Give us a call before walking away from thousands of dollars that should be in your pocket, not the direct buy investment companies.
Gray’s or Browns, what’s popular and what sells?
Actually some of both but with newly designed floor plans scattered across the Valley, we’re seeing more bright and neutral colors as standard and lighter colors are certainly attractive to a large percentage of buyers today. The older tans and golds are slowly going away but don’t be surprised if they come back around in 10 years. We have general contractors affiliated with our team that can change tile, professionally paint those dated cabinets or walls, and put your home in top shape if selling. Our team can make sure that a somewhat dated home you just purchased looks like a million bucks. One call to our team and we handle the rest.
Real Estate teams or a single agent, which benefits you the most?
Real Estate teams or a single agent, which benefits you the most?
Teams have been dominating the industry over the past 10 years. With so many moving parts with contract changes, lending and tax laws, and the nearly 50 pages of documents from contract to closing, when a team of 4-5 full time professionals work together it’s a much smoother process for a buyer or seller. Add home inspections, termite reports, lending delays, insurance requirements, HOA issues and delays, and then suddenly it becomes overwhelming for a single agent to handle. Want to see how our team operates and the reason we continue to be in the top 1% of all Realtors? Stop in our on-site office and see TJ, Ben, Lacey, or Michelle at Shea Preferred Realty Group.