This is a frequently asked question in any consultation between client and agent. The seller selects an agent to list their home and is often surprised to hear the estimate of fees for this process, including a commission for both the listing agent and the agent who brings the buyer. The listing broker is paid commission from the seller proceeds at closing and out of that compensates the agent who brings the buyer, also known as the “cooperating agent.” This is how it has worked for decades, … [Read more...] about Who Pays the Real Estate Agent?
Leslie Guiley
Anticipating Another Strong Seller’s Market
The real estate market outlook for 2022 is for a strong year on most accounts but a year that may seem quite boring compared to 2021. The projections call for a continued seller’s market, but with less frenetic activity and competitive bidding than we experienced in 2021. To get an idea of the overall national real-estate market, typically we sell about five-and-a-half million homes across the country each year. Last year, close to seven million homes sold. In 2022, that number is projected … [Read more...] about Anticipating Another Strong Seller’s Market
Top Ten Trends Impacting Real Estate
Everyone wants to know where the real estate market is headed. There was big news in November when the real estate giant, Zillow, known for its consumer website and property value estimates, announced it would no longer be buying homes. In the recent real estate runup, Zillow had turned from its core business model of providing real estate listings to gain consumer interest and then selling the consumer’s contact information to real estate agents and brokerages. Zillow had transformed into a … [Read more...] about Top Ten Trends Impacting Real Estate
Quad Cities Real Estate Market Remains Robust
Everyone wants to know when the housing market is going to crash. Prices have risen sharply in the past two years as buyer demand has increased all across Arizona. The pandemic did affect potential home sellers’ willingness to list homes during much of 2020 and into 2021, as well as increase our buyer demand. The good news is that new listings coming on the market have been rising since February. However, we only have 721 active listings on the market in the Prescott area; in September 2019, we … [Read more...] about Quad Cities Real Estate Market Remains Robust
Unique Opportunity to Own a Crown Jewel of Prescott History
In a town as rich with history as Prescott, there are few buildings as iconic as the Bashford-Burmister building where Bashford Courts resides. An atrium mall, Bashford Courts is known for unique specialty shops that are sure to entice locals and visitors alike. Beyond the variety of items, visitors have the opportunity to enjoy the unique architecture and history of the Bashford-Burmister Company, which became Bashford Courts in 1994. L. Bashford established the company in 1864, the same … [Read more...] about Unique Opportunity to Own a Crown Jewel of Prescott History
Top Seven Actions Homebuyers Can Take to Improve Chances for an Accepted Offer
It’s no secret that the housing market has been red-hot over the past year. Some cooling of the market is expected in the next six months; however, shifts in demographics, growth in population along with low interest rates indicate it will be a seller’s market for the foreseeable future. Here are the things buyers most often consider to sweeten the deal and get their offer accepted in this market: 1) Offer over asking price – This is a common occurrence as more buyers arrive in Arizona … [Read more...] about Top Seven Actions Homebuyers Can Take to Improve Chances for an Accepted Offer
Experts Offer Overview of Real Estate Market
Google reported last week that the search question, “When is the housing market going to crash?” spiked 2,450% in the past month. We have a classic supply and demand issue, coupled with some of the lowest mortgage rates on record and a national reshuffling of population groups that has sent prices soaring higher in 2020 than any year since the Great Financial Crisis. Realtor.com reports the national median list price at $375,000, up 17% from the year before. Listings are down nationwide 53% … [Read more...] about Experts Offer Overview of Real Estate Market
Assessing the Residential Real Estate Market
Homes for sale nationally are down 52% over the same time last year and in Arizona, there was a 64% decrease in inventory over last year. Demand is up as potential buyers re-evaluate their priorities in homes and lifestyle during and after the pandemic. There are four offers for every listing and intense competition has led to double-digit price growth according to the National Association of Realtors. Absorption rate measures how fast we would sell out of the current homes on the market if no … [Read more...] about Assessing the Residential Real Estate Market
Shopping Mall Reimagined
Foot traffic at malls across the country has been on the decline for 20 years. Consumers were changing their shopping patterns even prior to the pandemic and shopping online rather than flocking to their regional shopping mall. This change in consumer behavior means retail needs to adapt and be reimagined. The first air-conditioned indoor mall opened in Arizona in 1961. Malls were favored investments and heavily developed throughout the 1970s and 1980s, and they became a central area for the … [Read more...] about Shopping Mall Reimagined