Sibbach getting some national real estate media coverage for his observations of what’s happening in our marketplace! This time Jeff is commenting about what we’re seeing in North Scottsdale; an abundance of larger, dated homes that owners want to sell for more than the market will bear.
Baby boomers previously flocked to suburbs (further and further from city centers) to live in NEW houses that were being built. They enjoyed peace of mind homeownership; nothing to remodel and nothing to repair. Now that we are 15-20 yrs removed their “used” house that sits a little bit further away from the city’s action doesn’t have the luster it had when they bought it. Now these sellers have to bust out the polish – the grey-toned paint, the new tile with minimal grout lines, new cabinets, counter, showers, bathrooms, or kitchens – all to lure buyers in. However, the majority of sellers do not believe their home needs this polish to get the price they want. Cue the standoff; which Sibbach has coined “frozen”. Frozen means the house in its current state is not worth what the seller is willing to accept for it.
The article doesn’t go into the next part enough. The part where Sibbach knows how to unfreeze these houses. He has tracked the last 117 houses we have helped to upgrade, market and sell. Sibbach can explain the return on investment for every dollar spent to upgrade a kitchen, bathroom, flooring, etc. The certainty in knowing what upgrades will make the most impact on final sales price is why he is different than most REALTORS®. It’s one of the reasons the Phoenix Business Journal just named us a Top 5 real estate team in the Phoenix-Metro area (now the 5th largest metro in the country). The “polish” that we advise is once again drawing the buyers to these areas – and they are paying top dollar for these houses.
To read his full article, here it is on Inman.com – they do require a subscription to view it. I may have downloaded a pdf (that doesn’t require a subscritpion) linked here gratis.
Have a questions about your house? Call our office 480-500-1738, we’re ready to talk.
