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Scottsdale AZ Luxury Home Market – September 2017

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– Scottsdale AZ Luxury Home Market Performance for September 2017 –

This report covers the past twelve months of the luxury home market in Scottsdale. I am defining luxury homes as those with list prices above $1 million. To show more detail, I have separated the data into four price bands and within each price band, you will see the following information:

Active – How many homes were on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but accepting backup offers at the end of the month.
Pending  – How many homes were in pending status at the end of the month.
Sold – How many homes sold during the month.


– SEPTEMBER 2017 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory was down 3.7% at the end of the month compared to August.
– UCB Scottsdale Home Sales: The number of UCB contracts rebounded nicely in September to 24.
– Pending Scottsdale Home Sales: Pending home sales fell to the lowest level we have seen in 2017, but this is in line with sales activity from the same time last year.
– Scottsdale Homes Sold: The number of home sales jumped by 18.8% to 38. This is ahead of the twelve month average of 34 sales.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount off of list price of 5.2%.

Scottsdale homes between $1 and $1.5 million September 2017

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: Inventory was up for the third month in a row. Typically, we see inventory fall off at this time of year.
– UCB Scottsdale Home Sales: UCB contracts fell to five, the lowest we have seen this year and less than half of the twelve month average of twelve.
– Pending Scottsdale Home Sales: Pending sales also fell to the lowest we have seen in the past year. This is something we will want to keep an eye on, especially since the twelve-month average is 10 pending sales.
– Scottsdale Homes Sold: We did have a decent sales month, however. There were twelve home sales.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.
Scottsdale homes between $1.5 and $2 million September 2017

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market:  Inventory was down almost 3% between August and September.
– UCB Scottsdale Home Sales: UCB contracts had a very healthy rebound to seven at the end of the month. This figure is on track with the nine-month average.
– Pending Scottsdale Home Sales: Pending sales came in at nine for the third month in a row.
– Scottsdale Homes Sold:  Only three homes sold in September, a big drop from the excellent sales month in August. This is the lowest we have seen this figure in the past twelve months.
– Sales Price to Listed Price: 92.4% – On average, buyers saw a discount off of list price of 7.6%

Scottsdale homes between $2 and $3 million September 2017

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: There was an almost 15% jump in inventory between August and September. However, it is still well below the twelve month average of 138 homes.
– UCB Scottsdale Home Sales: The number of UCB contracts doubled over the previous month to four, putting it on par with the nine-month average.
– Pending Scottsdale Home Sales: Pending sales stayed level at three in September.
– Scottsdale Homes Sold:  There were only two home sales in the $3+ million segment.
– Sales Price to Listed Price: 80.8% – On average, buyers saw a discount off of list price of 19.2%.

Scottsdale homes over $3 million September 2017

It was another mixed month for Scottsdale luxury home sales. While some segments posted great sales, the drop in UCB and pending sales could signal a weak October.

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2017 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – September 2017

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– Luxury Condo Sales in Scottsdale and Phoenix – September 2017 –

The luxury condo market in Scottsdale and Phoenix had another decent month of sales activity in September. For the purposes of this report, I am defining the luxury condo market as those units with list prices over a million dollars.

Scottsdale Phoenix Luxury Condos September 2017

ACTIVE LISTINGS AT THE END OF SEPTEMBER

There were 48 condos on the markets at the end of September, a drop of one compared to the end of August. They were pretty equally split between the two cities with twenty-six in Scottsdale and twenty-two in Phoenix.

The most expensive unit on the market has held this spot since the early summer. This penthouse was located in the Plaza Lofts at Kierland and has 4,000+ square feet. The asking price was $3,750,000.

There were two units that came in as the least expensive luxury units for sale and they were priced at $1,049,000. The first was a carryover from Phoenix’s Fairway Lodge. It had two bedrooms, two and one-half bathrooms and 2,704 square feet. The other unit was in Scottsdale’s Optima Camelview. This home had three bedrooms, two bathrooms and 2,200 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were two condos in UCB status when September concluded and both were located in Scottsdale.

  • The first was a carryover at Main Street Place, which is still being built out. Priced at $1,975,000, this condo had 3,563 square feet, three bedrooms and three and one-half bathrooms.
  • The second was located in Optima Camelview and was listed for $1,247,000. This condo had three bedrooms and two bathrooms.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of September, there were eight luxury condos in pending status. Seven of the eight were located in Scottsdale and the bulk of them are carryovers as a result of communities still under construction.

Pending Condos in Scottsdale

  • Four of the eight pendings were still under construction at Main Street Place. Square footage for these units came in between 2,161 and 2,520. Prices ranged from $1,150,000 (4th floor), to $1,165,000 (3rd floor), to $1,300,000 (2nd floor) and to $1,975,000 (4th floor).
  • Optima Kierland, a new luxury development, ended the month with two pending sales. One was a carryover and had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000. The other was a three bedroom, three bathroom,  1,706 square foot home. It was on the market for $1,075,000.
  • The final pending is a carryover at the Enclave at Borgata. Still being built, this condo had three bedrooms, three and one-half bathrooms and 2,765 square feet. It was on the market for $1,820,572.

Pending Condo in Phoenix

  • The single pending sale in Phoenix was located in the Two Biltmore Estates community. This condo had three bedrooms, three and one-half bathrooms and 3,960 square feet. The asking price was $2,195,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Three luxury condos sold during the month of September. Two were in Phoenix and the last one was in Scottsdale.

  • Two Biltmore Estates was the first sale. It was a three bedroom, three and one-half bathroom unit with 3,950 square feet. It had been on the market for $2,248,000 and sold for $2,188,000.
  • Portland on the Park had a luxury condo sale in September. The unit was a three bedroom, three bathroom, 1,940 square foot home. The asking price was $1,082,500 and it sold for $869,500.
  • Kierland’s Landmark was the location of Scottsdale’s sale. This condo had three bedrooms and bathrooms and 2,690 square feet. It had been listed for $1,395,000 and sold for $1,200,000.

 

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer:  Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2017 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Single Family Home Sales – September 2017

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– September 2017 Scottsdale Homes for Sale and Home Sales –

September was another good month for sales activity. Plus, pendings were up at the end of the month.

SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2017

Below is a chart that shows the last year of home sales activity in Scottsdale. Four items are being tracked in this report:

– Single-family homes for sale are shown with the red line.*
– Under contract, but accepting backup offers (UCB) are shown with the green line.*
– Pending home sales are shown with the purple line.*
– Home Sales are shown with the blue line.

SEPTEMBER 2017 RESULTS

Scottsdale Home Sales September 2017

  • Scottsdale Homes for Sale: Inventory was up over 5% between the end of September and the end of August. Typically, we see this number fall or stay level due to seasonality.
  • UCB (Under contract, accepting backup offers): This figure jumped 12.4% compared to last month, indicating ongoing sales activity.
  • Pending Homes Sales in Scottsdale: Pending home sales fell slightly to 248. This is below the twelve month average of 286 pendings.
  • Scottsdale Home Sales: Sales fell almost 15% month-over-month to 373. This is the lowest we have seen sales since February of this year. But, again, we are in a seasonally slower time of year.

This next chart shows additional data on Scottsdale home sales.

Scottsdale real estate September 2017

The top section tracks how the four things we are tracking change when looking at the previous month. For instance, pending sales were down 3.1% in September when compared to August.

The lower section is Sales Price to List Price. In other words, how much did homes on average sell for when compared to their average listing prices. In September, sales price to list price came in at 95.6%. Looking at it from a buyer’s perspective, buyers saw an average discount of 4.4% off of asking prices.

September ended up being a decent month for Scottsdale home sales and the uptick in UCB listings was a positive.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2017. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Luxury Home Market – August 2017

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– Scottsdale AZ Luxury Home Market Performance for August 2017 –

Here is a look at Scottsdale’s luxury home market for the month of August. For the purposes of this report, I am defining luxury homes as those with list prices in excess of $1 million. I have divided the information into four price segments to provide additional detail.

Each price segment will contain the following information:

Active – The number of homes for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes at the end of the month were under contract, but accepting backup offers.
Pending  – The number of homes in pending status at the end of the month.
Sold – How many homes sold during the month.


– AUGUST 2017 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: The number of homes for sale remained level between July and August.
– UCB Scottsdale Home Sales: UCB contracts fell to 19. This is the lowest we have seen in the past 8 months.
– Pending Scottsdale Home Sales: Pending sales were up to 28. This is ahead of the 12 month average of 27.
– Scottsdale Homes Sold: Home sales were down by one to thirty-two. This is just under the 12 month average of 33.
– Sales Price to Listed Price: 96.1% – On average, buyers saw a discount off of list price of 3.9%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: Inventory was up 4.9% from the month prior. The month ended with 170 homes on the market in this price range.
– UCB Scottsdale Home Sales: UCB contracts rebounded in August to 13. This is ahead of the 8 month average of 12.
– Pending Scottsdale Home Sales: Pending sales fell by almost half to four. This is the lowest we have seen in the past year.
– Scottsdale Homes Sold: Ten homes sold in August. This is a big drop from the past few months, but is seasonal in nature.
– Sales Price to Listed Price: 92.2% – On average, buyers saw a discount off of list price of 7.8%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: The number of homes on the market was up slightly in August.
– UCB Scottsdale Home Sales: UCB sales fell sharply to two. This is the lowest we have seen since March 2017.
– Pending Scottsdale Home Sales: Pending sales were level at nine.
– Scottsdale Homes Sold:  An impressive thirteen homes sold in August. This is well ahead of the twelve month average of nine.
– Sales Price to Listed Price: 94.6% – On average, buyers saw a discount off of list price of 5.4%

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million was up by one over July.
– UCB Scottsdale Home Sales: UCB contracts held level at two in August.
– Pending Scottsdale Home Sales:  There were three pending sales in this price range. This is just under the 12 month average of four.
– Scottsdale Homes Sold:  Five homes sold in August. a much better performance than in July when there was a single sale.
– Sales Price to Listed Price: 91.4% – On average, buyers saw a discount off of list price of 9.6%.

Scottsdale’s luxury home market performance continued to be mixed during August. We saw seasonality come into play, but some price bands had solid sales activity.

 

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2017 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – August 2017

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– August 2017 Scottsdale Housing Market Video –

August 2017 – Video

Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of August.

Scottsdale Active Listings

This image is a representation of the number of homes for sale in Scottsdale in August 2017 compared with August 2016.

Inventory was down 12% year over year.

 

 

 

Here is the same information, but it looks at homes on the market at the end of the August, compared to the end of July.

Month-over-month, the inventory of active homes was down 4%.

 

 

 

Median List Price for Scottsdale Homes

Here is the median list price for Scottsdale homes in August. The median price is the exact midpoint of home prices, where half of the homes are priced higher and half of the homes are priced lower.

August’s median list price was just under $825,000. This is up when compared to August 2017’s $764,500.

 

 

 

Days on Market

Days on Market ( or DOM) measures how long it takes homes to sell in a given market. If the DOM is a high number, homes are selling at a slower pace. If the DOM is low, homes are moving more quickly.

August’s days on market was 100. This is 10% lower than the same time last year.

 

 

Median Sales Price for Scottsdale Homes

Here is the median sales price for Scottsdale homes.

August’s median home sales price came in at $525,000. This is up over July’s $530,000 and up significantly over August 2016’s $459,000.

 

 

 

Number of Homes Sold

Now we will take a look at home sales in Scottsdale.

This top image is a year-over-year comparison of sales activity. Sales were down 2% in August when compared to August 2016.

 

 

 

Here is the same data, but now looking at month-over-month home sales.

Sales were up 5% at the end of August compared to the end of July.

 

 

 

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel

Disclaimer: Data deemed to be accurate, but is not guaranteed.

Phoenix and Scottsdale AZ Luxury Condo Sales – August 2017

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– Luxury Condo Sales in Scottsdale and Phoenix – August 2017 –

August was another quiet, but decent month for the luxury condo market in Scottsdale and Phoenix.

This analysis covers luxury condos in Scottsdale and Phoenix with prices above $1 million.

ACTIVE LISTINGS AT THE END OF AUGUST

There were 49 units for sale at the end of August, a jump of six from the end of July. Twenty-nine of the units were in Scottsdale and the remaining twenty were in Phoenix.

The most expensive unit for sale during August has held this title since May. Is it is a 4,000+ square foot penthouse in the Plaza Lofts at Kierland and it was for sale for $3,750,000.

The least expensive luxury condo for sale was also a carryover. This unit came with two bedrooms, two and one-half bathrooms and 2,704 square feet. It was located in the Fairway Lodge community and was listed for $1,049,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

August ended with two condos in UCB status, both located in Scottsdale.

  • The first was at Main Street Place, a community currently under construction. This unit had 3,563 square feet and was priced at $1,975,000.
  • The second was at Kierland’s Landmark. It was a three bedroom and bathroom home with 2,690 square feet and was on the market for $1,395,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of August, there were eight luxury condos in pending status.

Pending Condos in Scottsdale

  • Four of the eight pendings were located in Main Street Place.  Main Street Place is currently under construction, so these will remain as pending until completion. Square footage for these was between 2,161 and 2,520. They were priced at $1,150,000 (4th floor),  $1,165,000 (3rd floor), $1,300,000 (2nd floor) and $1,975,000 (4th floor).
  • Optima Kierland, a new luxury development, is home to another pending sale that carried over from last month. This unit had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000.
  • The last pending is also a carryover and is located within the Enclave at Borgata. This unit was a three bedroom, three and one-half bathroom home with 2,765 square feet. It was ont he market for $1,820,572.

Pending Condos in Phoenix

  • One of the two pendings in Phoenix was located in the Two Biltmore Estates community. This unit was a three bedroom, three and one-half bathroom unit with 3,950 square feet. It was on the market for $2,248,000.
  • The other pending was in the Portland on the Park community. It was a three bedroom, three bathroom, 1,940 square foot unit. The asking price was $1,802,500.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Two luxury condos sold in August, one in each city.

The first sale was in Scottsdale’s Landmark community. It had 3,082 square feet, three bedrooms and two and one-half bathrooms. It had been listed for $1,479,000 and sold for a large discount at $1,200,000.

The second sale was in Two Biltmore Estates. It was a 3,332 square foot home with three bedrooms and three and one-half bathrooms. The asking price was $1,988,000 and it sold for $1,950,000.

 

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer:  Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2017 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

Guide for Hiring an Amazing Real Estate Agent

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– Finding and Hiring a Real Estate Agent –

When you’re buying or selling a home, it’s crucial to work with a qualified real estate agent. Not just a professional, but an amazing agent and a market expert. So how do you ensure you’re hiring an amazing real estate agent?

There are currently more than two million real estate professionals in North America.1,2 With so many options to choose from, how does a prospective home buyer or seller choose the right agent or broker? According to the National Association of Realtors®, trust and reputation are the top deciding factors consumers use when hiring an agent.3

But how do you measure trust and reputation … and what criteria can be used to help you make your decision?

In this guide, we’ve outlined the top attributes that great agents possess, as well as the questions you can ask to make sure you’re working with the right market expert to achieve your real estate goals.

5 ATTRIBUTES OF AN AMAZING AGENT

As mentioned above, not all real estate professionals are the same. Areas of expertise can vary widely. For instance, a wonderful downtown condo specialist may not be the best pick if you are looking for more rural horse property or a home within a golf community. And, it’s easy to be overwhelmed by the options and information about working with real estate professionals to buy or sell your home. In fact, many real estate markets are oversaturated with agents.

To help you understand what makes top agents and market experts stand apart from the competition, here are five key attributes of an amazing agent:

  1. A Pricing Specialist

If an agent has their real estate license, they know the basics of the transaction process. and know what goes into buying and selling a home. However, there’s a difference between knowing the process and navigating it for an ideal result, like buying or selling a home for the best price.

For buyers, amazing agents have a strong understanding of market trends, competition, and how to make your offer attractive to sellers. They can help you identify and secure a deal to ensure you get the home you want, in the community or area you want, within your desired budget.

If you’re selling a home, market experts have experience pricing homes optimally for the market and creating pricing plans to minimize the time spent selling the home. This will help you sell sooner and avoid carrying costs like additional mortgage and utility payments.

Takeaway: Whether buying or selling a home, pricing can be tricky. Market experts can help navigate best-possible pricing strategies, and also secure the home you want within your budget.

 

  1. An Effective Time Manager

It’s common to underestimate the amount of time it takes to buy or sell your home. The average real estate agent may not be utilizing the latest tools and technology to make the transaction easier and more cost-effective for their clients. Market experts have tools and strategies at their disposal to minimize the amount of time you spend on the process.

For sellers, market experts can make sure you only deal with qualified buyers, not the “tire kickers” who can waste your time. We also utilize the latest marketing practices online and offline to advertise and price your home effectively, ensuring it gets sold quickly.

When looking to buy a home, inexperienced agents may waste your time by showing you homes that are not a good fit for you. A market expert knows how to prioritize your needs and wants to find you the ideal home within your budget. We are big proponents of helping our clients find the area or community that is the best fit for their lifestyle before even looking at specific homes. Good agents also know how to spot “red flags” and can steer you away from homes that may not be a good fit or are likely to turn up with major issues in a real estate inspection, saving you time and money. For instance, many lovely homes in North Scottsdale get their water from private or shared wells. This setup is something that may or may not work for you and a knowledgeable agent will educate you about how it works and see if it is something you are open to.

In addition, well-networked Realtors can gain access to the hottest listings before many websites do or can get the word out about your home going onto the market. Their extensive professional networks can help identify “pre-list” homes before they’re officially on the market as well as drum up pre-listing excitement and showings before the homes are listed. This large network can be invaluable in a highly-competitive real estate market.

Takeaway: Even a well-intentioned agent may not have the skills, tools or technology to make the experience easy for you. There are lots of hidden activities that may take up unexpected time, and a market expert will save you time and energy.

 

  1. A Market Insider

While most agents can pull market stats about a neighborhood, community or city, they may not understand important trends or developments that would affect your transaction. These can include the state of the school district, issues with a homeowner association, new businesses in the area, zoning rules or trends in home prices.

Market experts live and breathe local real estate and know the trigger points for buying and selling in this market. We also stay current on effective marketing and negotiation practices, resulting in our track record of success.

For sellers, we understand what features of your home and neighborhood are assets in the selling process. And for buyers, we share a deep understanding of market factors, including neighborhood quality, speed of sales, price data and more. Plus, Joyce is on the Government Affairs committee for the Scottsdale Board of Realtors. This allows her to stay on top of developments and regulations that can affect real estate sales.

Takeaway: Getting relevant and specific market knowledge can be difficult and time-consuming, which is why many real estate agents don’t have it. Whether you’re buying or selling a home, an experienced real estate agent is often the best source of information about a city, community, neighborhood, or even street … we’re literally conducting market research every day.

 

  1. A Strong Negotiator

Amazing agents truly set themselves apart in their ability to negotiate. Unfortunately, a large portion of agents do not commit their time to improving this key skill.

Real estate negotiations can be challenging, even for seasoned professionals. It takes skill, experience and a knowledge of how to fight for your client’s best interests. While any agent can enter negotiations to buy or sell a home, they may not know the effective strategies to exit those negotiations with the result you want.

Experienced Realtors® focus on negotiation as a key skill. We understand what to do before entering negotiations (establishing the upper hand to set up the best outcome), as well as during the process (when to offer or accept concessions). Joyce and Heather have both earned their Certified Negotiation Expert (CNE) designations and apply the skills learned in those classes to each and every negotiation.

Takeaway: Many agents can feel the stress of the negotiation process, and may agree to terms of the buyer/seller. Working with a market expert will help ensure you get the best deal, not just the fastest deal.

 

  1. An Effective Closer

Closing a deal fast is often a good thing. For buyers, it means you found the home you wanted quickly. For sellers, it often means you can avoid the added expenses of mortgage and utility payments, and maximize the value of your home sale.

However, an agent solely focused on speed can make decisions that aren’t in your best interests. Top real estate professionals know how to not only help you achieve your real estate goals quickly, but they make sure they are handled in the right way to avoid potential pitfalls.

Just like negotiations, the paperwork and process of closing a real estate transaction are complicated. And they can be overwhelming for the average agent who hasn’t handled a lot of transactions. Sales contracts, property disclosures, contingencies, occupancy agreements and even lead based paint records need to be executed with precision. Your agent not only needs to be familiar with these, but also stay current on any changes in requirements or regulations.

Market experts have a strong understanding of real estate contracts, timelines, clauses and contingencies within the closing process. In fact, avoiding pitfalls during the closing process is where many sellers find an experienced Realtor® is a huge asset.

Takeaway: Many agents don’t have a firm understanding of contracts. Because a real estate transaction often involves a significant investment, even a small mistake can mean serious trouble. With that in mind, it’s often best, and most responsible, to work with a true market expert.

 


6 QUESTIONS TO ASK YOUR REAL ESTATE AGENT

So how do you know if you’re working with an amazing agent?

The first step would be to “shop around.” Many people work with the first agent they come across without a firm understanding of their level of experience. It’s always a good idea to interview a number of agents before selecting one. If you’ve gotten referrals from people you trust, then you may only need to interview 2-3 agents.

However, it can be tough to know what to ask in the interview process. Here are some questions that can help you qualify the best agent to help you achieve your real estate goals:

1. Can you send me some information about yourself?

Look for professionalism and consistency. What are their professional accomplishments? Also, try to identify how they approach their work. Look for a business person who has a strategy and solid support system. If they’re a newer agent, ask about their team’s dynamic and accomplishments.

2. How long have you been in real estate?

The average Realtor has 10 years of experience4. But while longevity is important, even more telling are the number and/or type of transactions they have closed or been involved in. So feel free to also ask: “How many homes have you sold in this area?” If you are looking for a specific type of property, for instance, golf communities or horse properties, ask about experience in those areas as well.

3. How do you work with clients? 

And, it is also important to understand how an agent and their team (if they have one) work. Some agents and agent teams are focused on closing hundreds of transactions a year. Whereas, other agents and teams are more focused on lower production numbers and providing additional customer support and time.

Depending on how an agent has their processes set up, you may work with your selected agent through the entire process from search/pre-listing to close and even post-close. Other agents may be there for you in the selection/pre-list and offer process, but once under contract, you will be serviced by their team of specialists.

4. What will you do to keep me informed?

Do you want daily or weekly reports from your agent? How do you want them delivered? Will the agent be able to meet these expectations? Determine how much communication you want, and then find an agent who will give you the attention and time you want and deserve.

5. Can you provide me with further resources I may need?

From market reports and pricing trends to school performance and crime statistics, top agents have resources at their disposal. In addition, market experts have built strong relationships with their extended team of professionals, and can often get expedient service.

6. Seller only: Can you share with me your plan to market my property?

Many agents will simply put your home in the MLS and wait for it to sell. An amazing agent should have a detailed plan of how to get your home exposure on online and offline, on social media, to their local networks and more.

 

GET STARTED

Now that you’re armed with the 5 Attributes of Amazing Agents and the 6 Top Questions to ensure you work with the best possible real estate agent, you’re ready to start interviewing agents.

We’d love an opportunity to win your business. Schedule a free consultation with us to find out how true market experts can help you achieve your real estate goals!

 

 

Sources:

  1. National Association of REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
  2. Financial Post – https://business.financialpost.com/personal-finance/mortgages-real-estate/canada-housing-bubble-agents/wcm/b49d4e3a-bd8d-4d1c-9566-bd3d80c8e23a
  3. National Association of REALTORS –

https://www.nar.realtor/reports/highlights-from-the-profile-of-home-buyers-and-sellers

  1. National Association of REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics

Disclaimer: Information deemed reliable, but not guaranteed.

Scottsdale AZ Single Family Home Sales – August 2017

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– August 2017 Scottsdale Homes for Sale and Home Sales –

August closed out with higher sales than we anticipated, although pending and under contract volume had decreased by the end of the month.

SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2017

The image below represents the past year of sales activity in Scottsdale. There are four categories being tracked.

– Single-family homes for sale are depicted by the red line.*
– Under contract, but accepting backup offers (UCB) are depicted by the green line.*
– Pending home sales are depicted by the purple line.*
– Home Sales are depicted by the blue line.

AUGUST 2017 RESULTS

Scottsdale Home Sales August 2017

  • Scottsdale Homes for Sale: The number of homes on the market was more or less level between July and August.
  • UCB (Under contract, accepting backup offers): These number of homes in UCB status fell to 242. This is the lowest we have seen this figure in the past eight months.
  • Pending Homes Sales in Scottsdale: Pending home sales also fell, but by a smaller amount. There were 256 pending sales at the end of the month.
  • Scottsdale Home Sales: 436 homes sold in August. This is up by 23 when compared to July. Typically, we see sales taper off during the slower months, so this was a welcome increase.

The next section examines two more pieces of the Scottsdale real estate market.

Scottsdale housing market August 2017

The top chart is something called Percent Change – Month over Month. Here we look at each of the data points compared to the month prior. For instance,  we saw a 5.6% increase in home sales between July and August.

The second chart is called Sales Price to List Price.  Here, we examine the sales prices of the homes compared to what they had been listed for. In August, we came it at 96.2%, the same as July. Looking at this another way, buyers received a 3.8% discount off of list price.

August was a good month for sales, coming in ahead of July. However, UCB and pendings fell, so September should come in lower from a sales perspective.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2017. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes

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