What you need to know if you are thinking of selling your home in 2017 in Phoenix AZ?

Good news! If you are planning sell your Phoenix home in 2017. Realtor.com forecast 2017 home price in Phoenix-Mesa-Scottsdale, Arizona will appreciate 5.94% and sale will increase 7.24%, which rank number 1 in Top 100 metros in US.

Millennials and boomers will dominate the market
According to Realtor.com, 2017 housing market will be in the middle of two massive demographic waves, millennials and baby boomers. Realtor.com predict millennial will make up 33% of the market share of buyer pool. Baby boomers are expected to make up 30 percent of buyers in 2017.

Potential interest rate hike
When you are selling your home, chances you are going to buy your next home, being up size or down size. Low mortgage rates in recent years have made homes more affordable for most buyer. Now it appears that those rates are poised to rise. Mortgage rates have climbed dramatically in just after the election. View U.S. 30 Year Fixed Mortgage Rate Since 1971

You might be interested: How rising interest rates will impact housing affordability?

Balance market
Inventory had been increasing from a year ago in some area in Phoenix. Although we will see more in balance market, if the house is move in ready and is priced competitively, chances you will see a multiple offers situation and get bidding war going on too.

Also read: 2016 Phoenix Arizona Housing Market Trends Report

Sweat the small stuff and start early
Home sellers can do several simple things to enhance appearance, increase buyer interest and boost their home’s value:
Renew smart: Instead of whole house renovations, do light makeovers everywhere, with an eye on the kitchen and bathrooms.
Clean, clean and clean: Scrub floors, baths, kitchens, windows and walls, and be sure to clean, vacuum and deodorize rugs.
Depersonalize, declutter: Show the live-able space, not the contents. Keep family photos, kids’ school papers and art, and store bulky and worn furniture. Organize your closets to make them look half empty.
Brighten up: Think bright and cheery. Open drapes and add brighter light bulbs in dark areas. Repaint where needed but use neutral colors.

Selling your home in Arizona

Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Arizona House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

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