Sellers
"It's only a dream until you believe..."

The East Valley of the greater Phoenix metropolitan area, including Chandler, Gilbert, Mesa, and Queen Creek, is still in a price-driven Buyer’s market. In mid-2005, there were less than 6,000 available MLS listings of homes for sale in the entire Valley of the Sun. Today, there are well over 50,000! A number of factors are contributing to the current market conditions, but one extreme factor stands out heads-and-shoulders above the rest ~ foreclosures in record numbers! Queen Creek is being impacted the most by bank owned (foreclosed/REO) properties continuing to hit the market, followed by Mesa, Chandler and Gilbert. As a result, all homeowners/Sellers should be aware of several unique conditions:

  • The selection of available homes for sale in the East Valley is extraordinarily high. Never before have there been so many choices in all types of residences: waterfront, gated, active adult, nearly new, mountain views, horse property, private pool, luxury, affordable ~ you name it! Regardless of the price point, many of the bank owned (foreclosed/REO) properties are in deplorable condition (trashed/stripped by former owners and/or vandalized after being vacated/abandoned), but perhaps 10-20% of them are in terrific locations, have quality upgrades and a private pool, and are in move-in condition. There are also thousands of single family homes, townhouses and condos in Gilbert, Chandler, Queen Creek and Mesa that are on the market by homeowners who want or need to sell their homes, many of which are in outstanding condition and priced quite aggressively. You will want to be just as aggressive as your competition if you hope to sell your home within a reasonable time frame and at a reasonable price.
  • In light of the over-supply of available homes, coupled with the overall slowdown in both the real estate market and the national economy, prices in the East Valley have fallen to the point where many nearly new homes are actually priced below current comps/appraisals. Some areas of Chandler, Gilbert and Mesa have seen prices correct downward by as much as 50%, and some parts of Queen Creek have corrected by as much as 70%. Home prices are extremely attractive and affordable in virtually every area of the East Valley, including gated communities and waterfront properties with private pools are arguably at or near rock-bottom levels. The best advice is that you take an open, honest look at the comparable sales in your neighborhood/area, and be realistic about your pricing strategy.
  • In spite of the subprime lending crash that started in 2006, and national banking/liquidity crisis that surfaced in 2008, mortgage loans in the East Valley are still readily available. Credit requirements are more stringent than they were in recent years, but solid loan products and pre-approvals are indeed accessible to home buyers in Mesa, Gilbert, Chandler and Queen Creek. Several loan products have made a roaring come-back, including FHA loans requiring only a 3.5% down payment, VA loans requiring no down payment, and USDA rural loans (available on many horse properties and other areas of Queen Creek) that also require no down payment. Mortgage financing is available, but it's not nearly as plentiful and liberal as it was just a couple of years ago.
  • Interest rates continue to hover in an historically low range. Like most everything on this planet, the reasons for such super-low mortgage interest rates are numerous and complex. The obvious benefit is that many buyers are indeed able to finance their home purchases. And given the tremendous choice of homes and almost unbelievable pricing, bargains, deals and steals in the East Valley are happening daily. To compete with them, you'll want to be just as aggressive with your pricing and marketing.
  • The result of the conditions described above ~ over-supply of homes, extraordinarily low prices, availability of mortgage financing and low interest rates ~ is a noticeable, steady increase in buying activity in Gilbert, Chandler, Queen Creek and Mesa. Properties that are priced aggressively and in above-average condition (bank owned or not) are often drawing multiple offers and selling in just a few days. As a Seller, that's the silver lining! Homes are in fact selling. Just be aware, however, that the competition is indeed stiff.

Current market conditions favor homeowners/Sellers who are savvy in several ways:

  1. Pricing the home aggressively, i.e., below current market value.
  2. Showcasing the home and property, making it as clean, light, bright, uncluttered, open and attractive as possible ~ paying attention to every detail of the home and lot.
  3. Staging the home, sometimes hiring a professional for advice on re-painting, bringing in or removing furniture and decorations and otherwise providing direction for enhancing the ‘feel’ and atmosphere of a home.
  4. Hiring an experienced, professional, full-time REALTOR® to be your Listing Broker.

Whether you own a single family home, townhome or condo... and whether you're looking to sell a smaller, larger, older, nearly new, active adult, waterfront, gated, private pool, no pool, mountain views or any other type of home in the East Valley, we're here to serve you. And whether you're moving in, out, up or down in Mesa, Gilbert, Chandler or Queen Creek, we're here to help you market and sell your home in a timely, professional and trouble-free way.

For FREE emails of all Active MLS listings in your neighborhood or subdivision, or FREE access to a customized website/portal where all of the details on all of the homes in your specified area are displayed and updated nightly ~ including photos, virtual tours, property features and addresses ~ simply click on the Contact Us tab above and email or call us with your address, subdivision or zip code.

For fast, friendly, professional information and assistance regarding the listing/selling of any home in the East Valley of the greater Phoenix metropolitan area, just click on the Contact Us tab above. We'll respond to you quickly and courteously, by email or phone, whichever you prefer. You'll be treated like royalty, with service beyond compare. No pushy salesmen! No pressure!