85297, AZ Housing Market

Sometimes Waiting Costs More This was a great reminder that timing and market value matter. This 2020 home in Gilbert's Layton Lakes community started at $599,990 and was reduced to $539,990 after nearly 80 days on the market. After reviewing comparable sales and discussing the home's value, my buyer chose to make his first offer at $460,000. I also explained the sellers had purchased the home for close to that price, making acceptance highly unlikely. The listing agent shared the sellers normally don't respond to offers that far below list price, but at my request they did. They countered at $515,000 and accepted all other terms. However, my buyer declined and wouldn't go above $470,000. Three weeks later, he decided he was willing to offer $500,000. Unfortunately, by then the home was already under contract with a full-price offer. The takeaway? Negotiating is important, but so is recognizing when a home is priced at or close to market value. Waiting for a better deal can sometimes mean missing the home altogether. While the overall market may be more balanced, certain areas and high-demand communities, and well-priced, move-in-ready homes continue to see strong buyer demand. Remember - location, location, location!…