Tips & Trends for the Flagstaff Real Estate Market:
Past Articles [February 2004]
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It's a Seller's Market
Perhaps you have noticed as you drive around town that there are very few “FOR SALE” signs in your neighborhood. You are not imagining things. Homes for sale in Flagstaff are few and far between, probably more so than at any time in recent history.
What is the reason? In the real estate community there are numerous theories and no shortage of speculation. People are not moving as much; families like it here and don’t want to move; everyone is trying to build more equity in their property. These are a few of the explanations given for the low number of homes for sale. Whatever the reason, the fact is that there is a shortage of available homes on the market less than $250,000.
If you have a home valued in this range and are considering selling it the time has never been better. As a seller you can expect a reasonable offer without a lot of negotiating if your house shows well, is properly maintained and priced right. Almost every realtor that I talk to has buyers who are looking for a home less than $250K. They are having a hard time finding a suitable property that meets their buyer’s needs.
The current economic climate that we are in is good for you the seller. The real estate market will always shift to the seller's advantage when the economy is good, interest rates are down and there are fewer homes on the market. That is the situation that we are currently in. If interest rates rise, the economy turns, and the market is flooded with houses then buyers usually have the advantage.
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