I think this is a question that sits in the back of our minds when we own a home. We don’t like to confront it because to answer “yes” would seemingly void all the personalized touches and investments we may have made in our homes and make our homes feel marginalized and so it becomes just like all the others in our neighborhoods.
So, is your home a commodity?
In today’s market and the market we have had the past four years, the answer is “yes.”
Pricing has driven most of the consideration for what homes have sold and which ones haven’t. Price. And though a home that was nicer in condition with some of the bells and whistles sold for more, it didn’t sell for all that much more.
It’s a scary thought but from the simplest homes to many of the most impressive custom homes, the homes in Phoenix have been commoditized. There are simply too many at too low a price without enough buyers in the marketplace to be considered anything more.
I realize this may be a disappointing post but perhaps there is a silver lining. Perhaps accepting this notion allows you to divorce the thought of your home as especially unique and worth the price you want, not what the buyer is willing to pay.
As well, maybe there is a certain liberation in this acceptance as it could increase the chances you have in selling your home successfully if you understand what may be the plain reality of the situation.
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