Jesse Lapham
Realty Executives Arizona Territory
As the weather warms up and flowers bloom, the real estate market in Tucson is heating up as well. While inventory in the real estate market has seen a slight increase in the past year, it's important to note that it is still historically low for our market. Despite this, many eager buyers are still searching for homes, which has led to a highly competitive market.
As the 2023 spring real estate market ramps up, buyers and sellers wonder if this year will differ from the past few. As a Tucson-based Realtor, it's essential to understand the local market dynamics to help guide your real estate decisions.
Like many areas of the country, Tucson is experiencing an inventory shortage, leading to multiple offers and bidding wars for desirable properties. This can be challenging for buyers who may need to act quickly and be prepared to make a solid offer to compete.
However, unlike other areas, Tucson's increase in home prices over the past few years has not been as significant as in other areas. This means buyers can find more affordable options in the Tucson market than in other areas.
For sellers, it's important to price your home competitively and ensure it shows as nicely as possible. With fewer homes on the market, your home may stand out to buyers, but making a good impression is still important. Being flexible on price and terms can also help attract buyers in a competitive market.
Overall, the Tucson real estate market is still experiencing high demand, but the shortage of inventory and rising interest rates may impact how quickly homes sell and for how much. As a Realtor, I aim to help my clients navigate the market and make informed decisions that are best for their needs and goals.
So, whether you're a buyer or seller, working with a knowledgeable Realtor who can provide local insights and guide you through the process is essential. With the right strategy and guidance, you can navigate the 2023 spring real estate market and achieve your real estate goals in Tucson. Contact me today to learn more!
Spring is nature's way of saying, 'Let's party!' and the real estate market is no exception." - Robin Williams
As the spring season approaches, many potential homebuyers are eager to start their search for the perfect home. However, with the current state of the housing market, it's essential to approach the process with realistic expectations. Though there are more homes for sale now than there were at this time last year, the reality is that there is still a significant undersupply of homes available.
According to the Monthly Housing Market Trends Report from realtor.com, the number of homes for sale is increasing, but it is still 43.2% lower than before the pandemic in 2017 to 2019. This means fewer homes are available to buy on a typical day than a few years ago. As a Tucson realtor, I understand buyers' challenges in this market.
That's why starting your home search is crucial to getting pre-approved for a mortgage. This will give you a better understanding of what you can afford and prevent you from falling in love with a home outside your budget. Once you have a good grasp on your finances, it's time to start thinking about what you need and wants in a home.
Creating a list of must-haves, nice-to-haves, and dream features is a great way to prioritize what's important to you. Must-haves are non-negotiable features you can't live without, while nice-to-haves are desirable but not essential. Dream features are the cherry on top, but they're not necessary to your day-to-day life.
It's important to note that with limited options on the market, buyers willing to consider what's a necessity versus what's a nice-to-have will be more successful in their home search. Once you have your list, discussing it with a real estate agent can help you refine it further and find a home that meets your needs.
In summary, the current housing shortage requires a practical approach to home buying. Prioritizing what you need in a home is a critical first step in the buying process, and being realistic about what's available on the market will help you make a more informed decision. As a Tucson realtor with Realty Executives Arizona Territory, I'm here to help you navigate home-buying and find the perfect home. Let's connect today!
As a Realtor® in Arizona, I've seen many homebuyers make the mistake of thinking they don't need a realtor to purchase a new construction home. In fact, many people assume that buying a new construction home is a straightforward process and that they can handle it on their own. However, this couldn't be further from the truth.
For several reasons, it would be best to have your realtor help purchase a new construction home in Arizona. Here are just a few:
One of the most significant benefits of having a realtor by your side when buying a new construction home is that your realtor works for you, not the builder. This means that your realtor will have your best interests at heart throughout the process, from negotiating the contract to closing the home.
The sales agents who work for new home builders represent the builder's interests, not yours. They are there to sell homes and make a profit for the builder. Your realtor is there to help you find the right home at the right price and to ensure that your interests are protected every step of the way.
Buying a new construction home is different from buying an existing home. You may only know a few nuances of the new construction process, such as construction timelines, inspections, and warranties.
Your realtor can help you navigate these complexities and ensure everything is done correctly. They can also help you understand the different stages of construction and what to expect at each location.
Contrary to popular belief, builders are often willing to negotiate the price of their homes. Your realtor can help you negotiate for upgrades, a reduction of the lot premium, or other aspects of the purchase that can save you money.
Your realtor can also help you understand what new build features are "standard" with one builder and what is an "upgrade to be purchased" with another. This knowledge can help you make an informed decision about which builder to work with.
Not all builders are created equal, and your realtor can help you understand their differences. They can help you identify builders with a good reputation for quality construction and customer service.
Your realtor can also help you research each builder's different communities and amenities so that you can find the perfect home for your needs.
In conclusion, having a realtor by your side is essential if you're in Arizona's market for a new construction home. Your realtor can help you navigate the complexities of the new construction process, negotiate a better deal, and ensure that your interests are protected every step of the way. So don't go it alone – contact me today, and let's get started on the path to your dream home.
I have seen my fair share of poorly executed listing photos as a realtor. Unfortunately, many home buyers tend to judge a house by its online appearance and overlook potential gems due to inadequate representation. It's essential to understand that the quality of listing photos is more of a reflection of the listing agent's marketing skills than the house itself.
If you're searching for a house to buy, it's crucial not to judge a property by a poor listing photo. You may miss out on your dream home because of it. Instead, take the time to look past the picture and learn more about the property. Consider scheduling a showing to see it in person.
It's understandable that some sellers might not have the resources to hire a professional photographer or staging company to showcase their property. However, it's the listing agent's job to ensure that the property is presented in the best possible light. Unfortunately, some agents may overlook this critical aspect of their job and post lackluster photos that do the property a disservice.
If you come across a listing with an exterior photo that looks like it was taken from a moving car or a strange angle, don't just scroll by it. Instead, take the time to read the property's description and look at the additional photos. You might find that it has all the features you're looking for, and the poor photo is just an oversight by the listing agent.
Another thing to keep in mind is that some listing agents may use odd photos to capture a buyer's attention. For instance, they might use an image of the garage door opener as the primary photo to pique a buyer's curiosity. While this might be an attention-grabbing tactic, it does not accurately represent the property. So be sure to read the property's description and look at all the photos before making any judgments.
In conclusion, when searching for a house to buy, it's essential not to judge a property by its online appearance alone. Poor listing photos may be a reflection of the listing agent's marketing skills rather than the property's condition. Review the property's description and look at all the photos before making any judgments. And if you're still interested in the property, consider scheduling a showing to see it in person. Remember, your dream home might be just a poorly executed listing photo away.
Happy Pi Day, everyone! As a Realtor, I know that Pi Day is a great reminder of the importance of rationality and constancy in the real estate market. Just like the value of pi is constant, the value of your home is based on objective factors like location, size, condition, and age. In a balanced market with fluctuating interest rates, neither buyers nor sellers have a distinct advantage, and the key to success is rational pricing.
Rational pricing means setting a fair and reasonable price for your home based on market data and your property's unique features. It also means being willing to negotiate and make compromises to reach a mutually beneficial agreement. Whether you're buying or selling a home, working with a qualified Realtor, such as myself, is essential to ensure that you clearly understand the market conditions and your options.
Here are some tips to help you succeed in your home buying or selling journey with a rational pricing strategy:
In conclusion, rational pricing is the key to success in a balanced real estate market with fluctuating interest rates. By working with a qualified Realtor and following a rational pricing strategy, you can increase your chances of a successful transaction that benefits both parties. So, on this Pi Day, let's all raise a slice of pie to the joys of real estate and rationality!
