Why does the same floor plan sell for $30,000-40,000 more or less than another?

Look no further than the design studio where it all starts. Years ago when we first opened at Encanterra® it was common to see buyers spend $100,000 or more on options and upgrades. Today we see buyers cutting back on those options as the builder is no longer offering large incentives. If you just moved here from another region in the country, what was popular and expected back home may have limited value in a community like Encanterra®. We have seen St. Tropez plans with $60,000 pools and golf course homes with base cabinets and no design upgrades. There are so many design variables that have an effect on the value of a home. Shea Preferred has access to all of these design details. Contact our on-site sales team to learn more.

I need to sell, what does my home need to get top dollar?

In today’s real estate world, one needs to understand one thing, HGTV. Yes, flip this, flop that, it’s all we see. In AZ and especially Encanterra®, a home that’s 8-9 years old could appear to be much older. Things change rapidly with color and design expectations. What was popular 10 years ago is now outdated. Buyer’s expectations are off the charts regardless of age and demographics. In fact, the younger the buyer, the more they expect. Every single TV commercial, design show, or even local newspaper ads show nothing but high-end appliances, new style tile sizes and shapes, showers, kitchens, and entertaining ideas. If you want to know exactly what to do in order to get top dollar, reach out to our team located in the model gallery. 

It’s time to sell, now what?

Do you get that agent that has never listed or sold a home in ENC before? Do you list with a neighbor’s friend who’s just getting in the business and wants to see if they can make it in Real Estate? Do you list with anyone truly working part-time? Do you list with someone who lives in the West Valley or 30-50 miles away? Do you want a single agent struggling to keep up or a full-service team with extensive experience? What about inspections? Would this agent know every single detail about our Shea product? Some of our homes have standard blown-in ceiling insulation, some have cathedralized, what’s the difference, and would they know how to sell this? What about solar, is it just solar or is a 3, 4, 5, KW system or Shea Zero? How would they know? What is the cost or benefits? What are the lease terms? Before giving someone a try consider these are only a small portion of critical factors in resale.

Whom to list with, does it matter?

If you look at the listings and sales over the past 12 months, you will notice the agents who occasionally list in the community, especially those who list one property each year or so, have staggering days on market and outrageous price reductions during the duration. Their only hope for a buyer is through the MLS or an occasional open house. They also must solely rely on MLS for comps and in this community, the exact home can vary by $100,000 in options alone, not including lot premiums. How would any agent ever know what recent sales had in exact options? They don’t, which could cost you tens of thousands in resale value. In nearly every case, that discount friend or referral agent on paper may save you 1% or so, but in reality (proven by data) it will usually cost you 5 times the savings. Please seriously consider these facts when looking for professional representation.

How to Get the Most Money for Your House

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW
This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house. (see chart below)

SP Impact of Price on Vibility Graph

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price, but instead will have multiple buyers fighting with each other over the house.

Realtor.com, recently gave this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional
This too may seem counterintuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the Economists’ Outlook Blog revealed that:

“The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.”

SP FSBO Sales Price Graph

Bottom Line
Price your house at or slightly below the current market value and hire a professional in order to guarantee that you maximize the price you get for your house.

 

Ben Leeson and TJ Kelley

Arizona Experience Realty Group Resale Broker for the SHEA Preferred Program

480-677-8170

Info@ENCBrokers.com

 

36460 N Encanterra Drive Queen Creek, AZ 85140