New home construction offers competition in the real estate market.

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There was a little feeling of fall in the air as I opened my front door very early this week – something intangible and impossible to describe but promising! It is the way I have also been feeling about real estate lately – as if something we have all been waiting for is just on the precipice of occurring. Dare I say it – a more balanced market on the horizon? Prices are continuing their slow but steady ascent and as we look at the “Heat Map” in the Long Realty Market Report we can see that things are beginning to even out inventory wise – slowly but surely.

In Oro Valley and Northwest Tucson in general, there are scores of residential building projects underway – or in the planning phases. The influx of new homes on the market will be great for buyers that have been feeling frustrated since the spring with the lack of inventory, but what will it mean for sellers? More competition, especially from new homes, means that today and tomorrow’s sellers must be incredibly proactive and realistic if they want a sale. The pricing must be spot on, the property must show like a dream and it must be accessible to show. Remember, you will be competing with brand new homes (super clean and looking sharp!) and the new build sales offices are usually open 6-7 days a week (convenient to see).

One must resign themselves to being a bit inconvenienced during the listing (and trust me, we have felt the very same when our own homes have been on the market). It will pay off- truly. We are anticipating a very upbeat 4th quarter in local real estate! To view the current market report, download the new home app and search all homes in the area with no registration required, visit ThePropertyAces.com.

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