All Forum Posts by: Allison S.

I'm not an expert in your area, but no matter where a property is located, the #1 REASON a home doesn't sell OR rent is PRICE. :) 

It's tempting to look into the past and wonder why a property is not being snapped up like it did X number of months/years ago. In these instances, it's important to remind ourselves that the market is shifting daily. New day, new market. Anything past 3 months ago is typically no longer relevant. So even if it's painful, a price adjustment is usually in order, especially if your listing otherwise is impeccable. 

You may also be experiencing some listing aging, where your rental has been sitting on the market so long, potential renters feel there must be something wrong with it if no one has snapped it up yet. Choose a new/different feature image, spruce up the text, make the listing feel fresh again. :) I hope this helps!!  

Hi everyone! My name is Allison Salcido, and I'm a Realtor in Phoenix, AZ. :)

I created my BP account a couple years ago... haha, but only now I'm finally choosing to be more active! (Better late than never right?) I love being a Realtor, but the more I grow my business, the more I want to invest as well (a la Rich Dad's cashflow quadrant). So I've made the commitment to expand my knowledge and dive deep into residential rentals, alongside my family (who have invested successfully before). Even being a real estate professional, it's still an intimidating prospect to start!! But I can't wait to lean in and learn with you guys! :) See everyone around!

The MLS is a great tool that makes pulling good comparable properties easier & faster. You can find comps on your own looking on consumer & county sites, just prepare for it take a little more time & diligence to squeeze & gather the same data a Realtor can access in a few clicks.

Knowing what makes a good comparable, and adjusting appropriately is where the real magic happens though! If you are new to analyzing & interpreting real estate values, it maybe worth working with a Realtor or seasoned investor who is an expert in an area you're interested in. They can guide you through the analysis process, and explain how they selected their comps and chose their adjustment values. :) 

But as Mike above says, at the end of the day, a home's value is whatever a buyer & seller agree on. There are not cut & dry rules that apply everywhere. And what constitutes "fair market value" can vary widely even between real estate professionals. So it's probably a good idea to work with an expert you trust until you feel like you can confidently sift & interpret market data. :) Hope that helps! Best of luck!