Looks matter – More than you think when listing your home

Tips for listing your home for sale

What determines the value of residential real estate? – Yes, the answer is location, Looks matterlocation, and location. But when you are selling property, you can’t change the location. You can do several things, however, to improve the looks of the property that will have the dual benefits of increasing the sales price and accelerating the sale.

Cleanliness counts

Make sure the home is clean. If still occupied, have it tidied up, with clean kitchen, bathrooms and yard. Have the carpets shampooed and windows cleaned to give the perception of cleanliness. If the home is vacant, make sure it is free of trash and clutter. The cost of a few hours work will be more than compensated by higher price or faster closing.

Repair what you can without spending a fortune

Making repairs, remodeling or even adding another room pays off. In fact, homeowners who make improvements or update kitchens and baths can experience up to a 150% return on investment. If maximizing the sales price is important, do the basic repairs that make the home functional. Some examples of common repairs are: fixing leak stains, replacing worn out carpets, replacing broken glass, and replacing light bulbs.  Basically do the things you wouldn’t normally do because they are minor and a headache. Potential buyers feel the same way which negatively impacts the sales price more then the cost of repairs.  The goal is to make a buyer feel like your home is well maintained and clean.

Stage the home

A few items of staging in a vacant home go a long way to accentuate nice features and take away the vacant feel. Staged homes sell up to three times faster and for considerably more; providing between a 319% to 578% return on investment. For smaller homes a few items in kitchen and baths make a difference. For higher value homes more elaborate staging commiserate with the value of the home give the perspective buyers a better feel for the home. Be sure the photos on the marketing of the home show the staging.

Take good pictures

Once the home is clean, repaired and staged, invest the time and money to have quality photographs taken. Most buyers begin their home search online and pictures are often the deciding factors for which homes they will actually visit. Some Realtors post photos taken on a mobile phone that do not do justice to the property. Good Realtors will use professional photographers that do everything possible to portray the home in the best way. They shoot photos when natural light is optimum. They have quality equipment, including special lenses for tight angles or wide panoramic views.

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Arizona Real Estate Bouncing Back in 2012? It’s possible.

Toma Partners Broker Ben Toma recently attended the  The Crosby Team’s Agent Appreciation Event which included a briefing by Prime Lending’s Scott Eggen. He presented some interesting  data about the Arizona real estate market.

The Crosby Team‘s Cindy Wolfinger has permitted us to share some highlights with our clients. See also this recent NBC Channel 12 story on the same topic.

http://www.azcentral.com/video/1381912748001

·         Maricopa County MLS inventory is at the lowest level since April 2006

·         Declining inventory is a leading indicator of appreciating home values, which is where we are right now in the cycle.  Increased home values are a lagging indicator of a healthy housing market.  In other words, if you wait to buy until you see an appreciating home market, the bottom of the market will be in your rearview mirror!

·         Data suggests that we are migrating toward a multiple offer situation on existing home sales. I think you would agree we are already seeing this today!

·         Days on market are dropping lower each month.

·         Building permits are at an all-time low, but as the price of homes increase, builders will increase their production.  Builders have been in survival-mode as buyers can buy an existing home for less than it cost to build.

·         We may see an increase of bank owned inventory in the Spring of 2012 as banks begin to bring homes to market, now that the “robo signing” documents have been correctly filed and the foreclosures are legally compliant.

·         Unemployment rates are dropping and giving Americans more confidence.

·         If the current consumer sentiment trajectories continue, we could see a very confident consumer thru 2014.  A confident and employed consumer is much more likely to consider a move up buy or other real estate purchases.

·         The Federal Government’s program called “Operation Twist” will keep 30 year rates low through June 2013!

·         The US Economy has it’s issues, but the US is the “best shirt in a pile of dirty laundry”!

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Phoenix Home Pricing Trends January 2012

Increasing – Stagnant – Falling  – Price changes are all over the board!

Home prices in the Phoenix Valley are increasing, holding steady and falling, depending on the area code and type of property. Here are some of the trends we are seeing now. You can check for yourself using data from the Cromford Report.

Homes are finally appreciating

In many areas of the Valley we have seen prices increasing. Some areas specifically include:

  • Sub-$100k areas where investors are picking up distressed properties, making them livable again and either renting  or selling them. Phoenix is known for great values in this type of housing and investors are coming from around the US and Canada. Their investment is helping bolster the market, especially on homes that would require renovation before any lender would provide a mortgage.
  • High end condominiums, such as the Optima Camelback in Scottsdale. These properties and similar ones are appreciating with the general improvement of market conditions in the Scottsdale area.
  • Far outlining areas like Maricopa that were the first to feel the pain of the housing bust. These locations were hit hardest but now are seeing some nice appreciation.

Home prices are stagnant

Many areas that were hardest hit appear to have reached bottom, we hope. Outlying towns of Surprise and Queen Creek, for example, have had stagnant pricing for the last few months. Certain well-designed neighborhoods of newer homes have in fact seen some appreciation in these areas as well.

Still looking for the bottom

Home prices in much of the Phoenix Valley are still falling. The biggest losers at the moment are high value neighborhoods that withstood much of the recession but are now feeling the pain of the rest of the Valley. In particular, Paradise Valley, Fountain Hills and Northern Scottsdale.

Track home prices by city with complimentary access to the Cromford Report hosted by Toma Partners. For more detailed information (by zip code, for example) contact us directly.

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Santa’s Workshop Saved! Arctic Client Celebrates Early Holiday Thanks To Valley Real Estate Firm

Toma Partners, LLC guides a high-profile multimillion-dollar short sale to benefit of “Arctic Bank” and a high-profile North Pole resident.

Saint Nicholas (Santa Claus) worked with Phoenix real estate firm Toma Partners, LLC in a nine-month-long negotiation process according to an inside source at the North Pole’s Arctic Bank.

“We work with luxury homes and high-profile clients all of the time – but none as high-profile as Claus,” explains Toma Partners designated broker Ben Toma. “I am very proud that our team was able to bring this deal to fruition on-time and confidentially, despite the source leak at the bank.”

Toma Partners – a luxury residential real estate company – hired professional interior designers to stage the residence and used professional studio lighting photographers to document the property.

“I know my property was beautiful,” says Claus. “But I had never seen it so beautifully lit and photographed in all of the years I’ve been there.” Continue reading

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September 2011 Phoenix Real Estate Market Trends

This Newsflash is our response to frequent questions from clients who wonder if the information they have read or heard on the residential market is accurate. We give you the raw data, just the facts, with a short opinion in the last paragraph.

Market Data:  Toma Partners provides an individual city breakdown because real estate is local and overall market averages can be misleading.  Caution, data from smaller cities varies greatly from month to month because of the limited number of transactions.

Phoenix

  • Annual Appreciation: -8.3% (Values are dropping/increasing at this rate.)
  • Recent Appreciation Trend: -2.0% (The drop/increase in value is getting better or worse at this rate.)
  • 4,625 Active Phoenix Homes Listed For Sale: 47.87% Short Sales, 16.54% Foreclosures & 35.59% Normal Sale.
  • 1,894 Homes Sold Monthly: 24.18% Short Sales, 47.94% Foreclosure, & 27.88% Normal Sale.

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Pre-Market Listing: Mirabel Village

Experience the warmth and intimacy of Mirabel in this immaculate home, soon to be listed at $1,496,439.

This breathtaking golf course property is south facing with sweeping mountain and sparkling city light views.

Feel the ”Wow” of this 5,567 sq ft Spanish Hacienda with four bedrooms and four and a half baths. It has an open and flowing floor plan with rich custom finishes. The home has extensive valley views, a study, formal dining room, wine room, four car garage and Crestron® home automation system. Also includes a second level two room attached casita.

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Pre-Market Listing: Arcadia Horse Property

Completely renovated, this 4,000(+) sq ft, Contemporary French Country estate will leave you breathless. Located in the very sought after “Arcadia” neighborhood, this horse property is in the heart of the city. It is surrounded by numerous golf courses, fine dining establishments, shopping, resort destinations, and has mountain views.

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5 Benefits of Living in Phoenix During Summer

1. We don’t have to pay for a sauna.


Photo by JPott

Just step outside for 5 minutes. You get an instant tan and loose weight by just standing. Who needs the spa… think of the savings… Go green!!!

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10 Favorite Lunch Places in the Biltmore Area

Our office is located in the Biltmore area and there are times when we get stuck on picking a place when it comes to going out for lunch.  Now, I’m not a professional critic by any means but this list may help some of you: here are our top picks for lunch in the Biltmore Area.

1. The Parlor

The Parlor is located close to 20th street and Camelback. When you first enter, there is a small herb garden that makes you feel like everything you’re eating here is garden-fresh, and the rest of the place has a cool urban atmosphere. You may also enjoy the patio once the summer heat is over. My personal favorite is their steak salad – it is absolutely delicious! The pizza is excellent as well.

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Pre-Market Listing: Luxury Scottsdale Estate for $1,298,560

We’re kicking off our notification of exclusive pre-market notifications with this exceptional property located in the exclusive Desert Highlands community in North Scottsdale, Arizona. To stay on top of upcoming properties before they are MLS listed, be sure to check our blog’s real estate listings category on a regular basis.

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