"plc" 3 Very Important Words

Everyone knows the old saying that the three most important words in real estate are: "Location, Location, Location!" I certainly agree that location remains, and will always be a very important factor in determining the value of a property. Over the past few years, when the market was in over drive, it appears many people forgot these three very key words and just wanted to get their hands on anything they could mortgage.

Our current market in the greater Phoenix area is now requiring Pricing, Location and Condition to be three words to be aware of. For example, with the current number (high) of available properties and the current number (not as high) of buyers in the market, a home needs to be priced (very) well, in a great location and in excellent condition in order to obtain a "normal" sale. Unfortunately, if even one of the three (price, location, condition) is not right, a home has a much harder time attracting a buyer. Days of multiple offers on properties that are hard to show, need work, back to a busy street etc. are gone. Buyers are picky and demanding and have every right to be. The shoe was on the other foot for a while where seller's cherry picked offers after multiple buyers started waiving contingencies, appraisals and inspections..

Seller's that "missed the boat" and still want unrealistic prices are finally starting to understand the rules of supply and demand.
For tips or advise on the current market in Tempe and surrounding areas, feel free to "Just Call Nick!" I'd be glad to help. :-)

By: Nick Bastian

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