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2015 Real Estate Predictions, Money Saving Odds & Ends

03 January 2015   Lee Amble
There will likely be some steady changes in the real estate market this year. 

First of all I would like to wish all of you a Happy, Healthy and Prosperous New Year in 2015. It should be a great year for all! In the past years, I have made real estate predictions and most of them have been accurate or at least close to accurate.

Everyone should do their research and let my articles be part of the research. I cannot predict many of the unforeseen happenings more than any other predictors such as interest rates, wars, civil disruptions, Federal Government actions or no actions, but let's see if I can be lucky again.

These predictions are specific to my home area of Prescott, AZ, but the nationwide readers may also use this information and adapt it to your area.

Homes are like a finger print, all different in some way. It could be view, floor plan, options, maintenance, size and useability of your lot, no two would be identical.

With that being said, do not think your value of your home would be accurate or many times not even close to any internet site value. Use them only to see averages of similar homes. For your true value, use a local realtor or an appraiser to find out the price. I feel agents with 15 years or more experience would be the best as your home value is a serious asset for you and is not to be valued by newbies or rookies who don't have the needed time or experience in the business.

Predictions

In many ways, 2014 was a year of price corrections; some up and some down; depending on price of homes and neighborhoods.

2015 Prescott, AZ Area Predictions

Homes:

$100,000 - $200,000: Increase of 5 t0 7%.
$200,000 - $250,000: Increase of 4 to 6%.
$250,000 - $300,000: Increase of 4 to 6%.
$300,000 - $400,000: Increase of 3 to 5%
$400,000 - $500,000: Increase of 0 to 3%
$500,000 - $600,000: Increase of 0 to 3%

All others stable to a +/-3%

New homes: Increase +4% - 5%

I hope next year we can look back and see that these were close to accurate.

Money Saving Odds and Ends

The following are things that may save you thousands of dollars or not, but at least you are aware and the cost to ask is nothing. We are going into uncharted waters as fees across the nation are beginning to drop because of internet sites and For Sale by Owner sites and also because realtors do not spend nearly as much time with buyers because of free internet information.

Things to Ask For

  • Reduced realtor fees.
  • Senior saving from title companies. Free home warranty from seller or realtor.
  • Always buy in the off season.
  • Sellers, sell in season for buying.
  • Sellers paint up and freshen up! Nothing major!
  • A lower but reasonable offer by the seller.
  • Seller try hard to negotiate 1st offer because many times they are the best.
  • Buyers do not ask for petty items to be fixed.
  • Both: do not let an aggressive home inspector mess up the deal with petty items.
  • As a buyer look at the transaction through the sellers' eyes.
  • Reminder too all: be fair, honest, and reasonable and it will save you time and money.
  • Last and not least, do not let your realtor mess up your deal up by being overly aggressive to save a few dollars on the sale. I've see it done many times.

Also, in my opinion, do not sign a buyers broker agreement until time of contract writing. You should not be tied to a realtor as you and the buyer may not be compatible.

Thoughts for the coming new year:

Victory is always possible for the person who refuses to stop fighting.

People become successful the minute they decide to be successful!

To be a champion, you have to believe in yourself when nobody else will.

Thanks for reading this "Food for Thought" article! It's written to help everyone and gives you much to think about. Please, if you have any real estate questions, call me at 928 533-4455. The call is free and so is my email. This email address is being protected from spambots. You need JavaScript enabled to view it.

Remember, "Experience isn't expensive, it's priceless!"


Lee Amble, Realtor, Consultant
National Realty Of Prescott
Lee's Cell: 928 533-4455
Jan's Cell: 928 533-4488

This email address is being protected from spambots. You need JavaScript enabled to view it.