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How to properly price your home in this real estate market

PHOENIX (3TV/CBS 5) – Here in the Valley, it can be difficult to determine how much to sell your house for as prices drop and houses sit longer on the market.

On Saturday morning, Arizona’s Family meteorologist and reporter Kylee Cruz talked to real estate expert Rich La Rue to help those looking to sell their home. La Rue is a broker for HomeSmart out of Scottsdale and has been working in the home real estate market for more than 38 years!

With such an unpredictable market, La Rue said that the best thing those looking to sell their homes should remember is that this isn’t the same seller’s market that the area had in the past few months. “Some of the tips of what sellers may want to consider is hiring a real estate professional to help them navigate the market as prices fluctuate,” he said. “Interest rates have spikes upwards…and buyers have more buying power in the marketplace.”

La Rue says he believes that eventually, we will return to a “normal market.” “Some of the prices that were paid were pretty wild. I think we’re going to see a settling in these prices,” he said. “I doubt we’ll see the 3% that we saw for that year or so.”

With regard to tips for sellers, check these out:

  • Hire a real estate agent
  • Compare prices of nearby homes
  • Ride the waves of the market
  • Make sure you are pricing to sell

As far as quick fixes or quick renovations go, La Rue says he suggests to always have your home ready for sale if you’re looking to sell it in the next year. “You want to make sure you don’t cut corners,” he said. “Please, please, please pick up the dirty laundry. You can’t believe what we’ve seen giving home tours.”

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