The Rim Country real estate market in 2010 gave us some optimism as the number of homes sold showed a dramatic increase over 2009.
This year brings optimism as the economy is predicted to start a rebound; however, we still have a hill to climb.
Below are real estate statistics for 2010 that reflect fantastic buying opportunities in our area.
Five years from now we may be saying, “I could have bought that property for $ ....” The information below was derived from information reported to the Central Arizona Board of Realtors and does not include unreported or for sale by owner transactions.
For Payson-Star Valley in 2010, there was a 30 percent increase in homes sold compared to 2009.
The average selling price in 2010 was $201,553 vs. $243,256 in 2009, a decrease of 17 percent. The average days on the market for a home were 167 days in 2010 vs. 189 in 2009. It is important to note that the average sales price does not necessarily reflect the change
in individual values as the higher end market experienced a low rate of sales, thus skewing the average sales price.
The statistics for the Pine-Strawberry market were as follows; home sales increased by 26 percent from 2009. The average selling price in 2010 was $194,430 vs. $218,540 in 2009, a decrease of 11 percent. Again, the average sales price may be skewed because higher end buyers have not returned to the market in significant numbers.
Land sales in Payson-Star Valley also increased in 2010. According to MLS statistics, Payson-Star Valley recorded 62 land sales in 2010 vs. 37 in 2009. The average selling price in 2010 was $56,245 vs. $78,613 in 2009. Average days on the market in 2010 increased to 260 vs. 193 in 2009.
Pine-Strawberry showed a slight increase in land sales in 2010. There were 19 land transactions in 2010 vs. 15 in 2009. The average sales price in 2010 was $56,254 vs. $78,613 in 2009. Days on the market increased from 226 in 2009 to 241 in 2010.
A great source of optimism is the number of homes on the market.
The supply has shrunk dramatically from last year indicating that prices may be on the rebound and signaling the return to a more stable real estate market.
Payson-Star Valley currently has 300 homes on the market. At this time last year there were 381 homes on the market. Pine-Strawberry showed a slight increase in the number of homes on the market. Currently there are 110 homes for sale compared to 99 at the end of 2009 which is an increase of about 11 percent, but this is within the normal range of homes on the market for this time of year.
According to some economists, we should start to see improvement in the housing market in 2011. They are forecasting an increase in the number of units sold and prices may start a slow steady climb.
If you have your home on the market, the following tips will help you sell it fast.
Top 11 things you can do to sell your home
- Price your home competitively.
If your home has been on the market for a period of time, ask your real estate agent to give you fresh information on what has sold in your neighborhood and re-price your home to be competitive with other homes on the market.
- Stage your home.
Walk in your front door and look at your home as if you were a buyer. Are there things you can do to make it more attractive? Rent a storage unit and clean out the clutter.
- Take down the Christmas lights.
It is long past time to put those away.
- Paint the front door.
According to research, the front door gives a first impression. If it is not welcoming, the buyer may not have a good first impression.
- Enhance the exterior appearance.
Even in winter there are things you can do to enhance your home’s landscaping. Get rid of the fall leaves. Sweep the gravel off the sidewalk and driveway.
Repair those things that you
know need repair.
If you can see it, the buyer can see it. If the buyer can’t see it, they will find it during the home inspection.
- If you have pets, check for odors.
We have observed that one of the biggest turn-offs for many buyers is to walk in a home and smell pet dander or urine. Have your carpets professionally cleaned and deodorized.
Paint gives you the cheapest cost
and greatest return on your
If the exterior needs a refresh, consider it. If your interior has Jimi Hendrix “Purple Haze Purple” on the walls and you love it, chances are the buyer will not. Go with neutral colors.
Wash and polish the kitchen cabinets. Make the floors sparkle. Clean windows give a better view of the outside world and the back yard where the buyer can envision themselves relaxing in our spectacular weather. A clean home will sell faster because it exhibits ongoing maintenance and pride of ownership.
When your home is going to be shown to a prospective buyer, take a walk or go get a piece of pie and cup of coffee at your favorite restaurant. If you are dieting, just stick with the coffee. Let the Realtor show the home and point out its good features. A buyer can feel intimidated if you are looking over their shoulder during the showing and may make a hasty exit to the door.
- This is a bonus.
Do not listen to your neighbor’s or Uncle Freddie’s opinion on the price of your home. It is usually wrong and inflated. Have a Realtor give you a comparable sales analysis of your home’s value.
Ray Pugel is a designated broker for Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.