Home Selling in Laveen>Question Details

lalsentzer, Both Buyer and Seller in Laveen, AZ

Would like to move to south Tempe, north Chandler in the next year or so. We have a home @ 51st Ave &

Asked by lalsentzer, Laveen, AZ Sun Jul 13, 2008

Baseline (Laveen). Nice floorplan, well kept, etc. Advice from one well known agent (via phone only) was wait a while. We're not upside down because we bought in early 2003, and really love our home, but want to move to be closer to work and family. Any thoughts? Should we even bother listing now if we want over $200,000 or is it a lost cause? Don't mind waiting a year or so, but don't want to wait five! Please let us know what you think. 3 bedroom den, 2 ba, fam, liv/dining, 1864 sq ft, tile, brick patio, vaulted, etc. THANKS!!

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Michael Rizzo’s answer
The short answer is to first have a realtor do a good estimate of value on your house in Laveen. That realtor must show you not only where the market was a 2 or 3 months ago, but where its headed. Try to stay away from the "I think" agents. Have them provide you with the hard statistics and you'll be able to make your own decision. If you can get enough to buy a house in the east valley, then your decision is easy. Likely, you'll need two realtors to represent you, one on the listing side and one on the buy side. The two locations are too far apart to expect an agent to be capable of expertly representing you in both areas. That's why I wouldn't take your listing in Laveen, but would be happy to represent you in your purchase in Tempe or Chandler. This is a fantastic time to buy even if the market drops a little more. If you're going to be in your new home for 4 or 5 years, I would bet that any coming depreciation will be more than made up for in a few years. The long and short of it is.....if you wait, your house value may continue to drop and you'll have to wait for it to recover. When your property recovers so are the ones in Tempe and Chandler. You have severe competition with new home builders in Laveen where this is not the case in Tempe and north Chandler. I'd suggest that you formally gather your facts and then make an educated well-informed decision based on fact and not emotion or opinion. Call me if you need an expert in the east valley.
Web Reference: http://www.TheMBATeam.com
0 votes Thank Flag Link Thu Jul 24, 2008
Lalsentzer,
Are you going to be trading up? If you are going to be trading up, what you lose on your house, you gain at the buy.
Another strategy would be to find someone who would like to trade homes (simultaneous closings). A friend of mine traded down, she had equity, and has a small balance on her current home.
0 votes Thank Flag Link Tue Jul 22, 2008
Waiting a year will only make you sell your home for less or the same as what you can get for it now. There will be no appreciation within a year, so waiting will make no difference to you. If you are buying, then whatever "loss" you are taking on the sale of your home, you will make up when you buy.
Web Reference: http://www.TeamKearney.com
0 votes Thank Flag Link Mon Jul 14, 2008
Due to excess inventory and foreclosures, home values have few ways to go but down. I have a hard time believing those values will drop and come back within a year. I would say, get an agent to analyze the local market and see if your home could be presented well and sell now at the price you want. It sounds as if you already did this and the agent told you it will not sell. You probably need to wait a few years for home values to steadily come back, or be willing to take more of a loss now in order to take advantage of the current buyers market. Since you bought in 2003, you may still have a decent amount of appreciation in the home to make the move worth it!
0 votes Thank Flag Link Mon Jul 14, 2008
I have a listing there that is a foreclosure. Most of them in that size range I see prices from 150-200.
I have had a few sellers and buyers take advantage of the market to upgrade into the home of their dreams. They understood that there will be a loss on there current home, however there was a great savings purchasing a much larger and better qualify home. I am not sure if you would like to lease it for awhile, however it definatly is a great time to purchase a home.

Feel free to contact me if you have any questions!

Lucinda
0 votes Thank Flag Link Sun Jul 13, 2008
What are the houses selling for and the DOM, place excel spread sheet include your fuel costs you spend for your commute PERHAPS you might be able to locate a foreclosure with equity that would off set any potential loss you may have http://www.lynn911.com http://www.homes-for-sale-dallas.com
0 votes Thank Flag Link Sun Jul 13, 2008
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