Good News For Arizona Property Sellers, Zillow Is Buying Homes, Offering Cash
Home Good News For Arizona Property Sellers, Zillow Is Buying Homes, Offering Cash
October 25, 2018
For home sellers in Arizona, convenience and certainty when selling have been elusive for a long time. However, if what Zillow has done in Denver’s housing market is anything to go by, then the future of home selling in Arizona looks bright as inconveniency and uncertainty will become a thing of the past.
Through its Zillow Offers program which has been dubbed as a low-hassle home selling alternative, the company looks to help sellers avoid some of the common hurdles associated with selling property. These include staging, showing, and making out-of-pocket repairs.
With the Arizona house prices hitting an all time high in mid-2018, real estate experts believe that Zillow Offer program couldn’t have come at a more convenient time. This is especially the case for homeowners whose properties have been on the market longer than necessary.
Consider these statistics:
- The current median home price hit a record $265,000 in June 2018, soaring past the previous record of $265,000 set in June 2016.
- This median price is expected to rise by 3.5% over the next 12 months.
Using Zillow Offer Program
Selling to Zillow is also a straightforward process and can be done at the comfort of the seller’s home. An interested seller will visit the Zillow web page and enter any relevant information about the house that Zillow asks for on its website. The company will then make an offer which the seller can accept or decline.
If Zillow and the seller agree on a price, the company will send a representative to assess the house and make an estimation of possible repairs. Once this is done and the seller accepts the company’s offer, they can set a date for when to close the deal.
Homeowners in Arizona will be pleased to know that Zillow works with local real estate agencies as it has done in Denver, Atlanta, North Carolina and Las Vegas. Thus, if the company declines a seller’s offer, they will refer them to their network of top agencies to help with listing the property.
Working with these premier agencies increases the chances of the seller’s property finding a buyer. The local premier agencies Zillow is looking to work with in Arizona are West USA, Berkshire Hathaway HomeServices Arizona & Nevada Properties, and Coldwell Banker Premier Realty
In the states where the program has been launched, there were initial worries among real estate agencies that it will drive them out of business. Zillow addressed this issue by stating that the company will pay a commission to agents with every resell they make. For this reason, agents in Arizona shouldn’t worry much.
It is, however, important to note that Zillow Offer program does not buy fixer-uppers or high-end luxury homes. The company’s primary focus is the middle-tier homes. This is good news for Arizona considering the fact that the housing market has been slowly turning the tide the last couple of years since the slump of 2006.