Prescott Real Estate News Blog's purpose is to keep current, past, and potential clients apprised of the real estate market conditions for the Prescott, Arizona Area. National and state news and events will be posted but special emphasis will be placed on Prescott Area and the Yavapai County - Prescott, Prescott Valley, Chino Valley, Dewey and Kirkland/Skull Valley.
-Prescott Real Estate News
If you're selling your home, you'll have a very personal perspective on what it's worth. You'll remember all the hours you put into making the backyard flower garden beautiful, or the work you put into renovating the basement, or the money you spent on installing new hardwood floors in the livingroom and hallways.
It's natural to want these improvements factored into the asking price.
However, potential buyers don't have that same perspective.
Although they may appreciate the improvements made to the home, buyers will only be interested in paying current market value for your property. That's the price for which comparable homes with comparable features are currently selling in your area.
Buyers don't see all the hours you spent on improvements and renovations.
What they see, instead, are the final features: the hardwood floors, the freshly painted bedrooms, the sparkling new master ensuite. Features like these will certainly help sell your home faster and for the best price — but that price will likely be close to the current market value.
Now, it's tempting to try to set a list price high above the current market value in the hopes that some buyer will appreciate all the time and money put into the property. But that strategy rarely, if ever, works. In most cases, pricing your home higher than comparable properties on the market only discourages potential buyers from viewing it.
If you get an offer for your property that you consider too low, resist the urge to react in a negative way. It's normal to feel disappointed, or even insulted. Just try not to show it.
Why? Because even a low offer signals, at the very least, interest. That means the other party might still consider a higher counter offer. And, they'll be much more receptive to that counter offer if the atmosphere is positive.
Are You Adequately Insured?
With so much news about hurricanes, wildfires, tornadoes and floods, we are becoming more and more aware of the unpredictable power of nature, and the indisputable importance of insurance.
Although we may forget about our home insurance policy for extended periods of time, we should examine it carefully at least once a year, in case we need to make an unexpected claim. It's also a good idea to keep a photographic and/or videotape record of valuables (with copies saved off premises) to more accurately estimate the cost to replace important possessions, including:
Furnishings and equipment
Technical hardware, software and accessories
Possessions, including books, art, antiques
Documents and business materials
Personal mementos, hobby equipment, tools, etc.
Loss of time and/or revenue (for self-employed home office or small business)
Insurance should serve the purpose of providing good value while protecting material goods and looking after family needs. To prevent irreplaceable loss and enormous disappointment, investigate the details of your policy today, and make sure you fully understand the fine print.
notable, quotable... quotes!
"You have to put in many, many, many tiny efforts that nobody sees or appreciates before you achieve anything worthwhile."
"Courage is not the absence of fear, but rather the judgment that something else is more important than fear."
"Never let your memories be greater than your dreams." Doug Ivester