Phoeniz RE Market is Heating Up

[Burning Madolf]

Originally Posted by ijamez

when you have a listing that says "motivated seller", one would expect an actual motivation to sell

This made me smile thinking about waving a listing at a seller's broker: "BUT YOU WROTE HERE THAT THEY WERE MOTIVATED!"

I'm trying to imagine listings where there were no "exaggerations."

[ijamez]

Originally Posted by Burning Madolf

This made me smile thinking about waving a listing at a seller's broker: "BUT YOU WROTE HERE THAT THEY WERE MOTIVATED!"

I'm trying to imagine listings where there were no "exaggerations."

Yep I told my agent to demand the listing agent remove that totally bogus flat out BS statement immediately...It's still there though The other house had "pretty floors" that needed to be completely ripped out as they were laminates done by a DIY hack that were separating and looked terrible Do real estate agents have any clue that buyers are actually going to enter the house before buying it? Good lord the clowns in that industry...

[wase4711]

just like buying a used car, its always "buyer beware"..
The seller probably is motivated.........motivated to sell as high as possible!

[Zippyman]

Originally Posted by wase4711

just like buying a used car, its always "buyer beware"..
The seller probably is motivated.........motivated to sell as high as possible!

+1

highly "motivated" @ $325k..

not a bit "motivated" @ $320k..

[MN-Born-n-Raised]

Originally Posted by ijamez

Yep I told my agent to demand the listing agent remove that totally bogus flat out BS statement immediately...It's still there though The other house had "pretty floors" that needed to be completely ripped out as they were laminates done by a DIY hack that were separating and looked terrible Do real estate agents have any clue that buyers are actually going to enter the house before buying it? Good lord the clowns in that industry...

Think outside of the box: the listing RE agent is also a "seller" of that home. Read Motivated Sellers - Definition of Motivated Seller - Anxious to Sell

"Sometimes it's not the seller who is motivated. Sometimes it is the listing agent who is motivated to get the listing sold. If agents can't get the seller to see reason, agents might hope that encouraging a lower offer will bring the seller to his or her senses when the number is submitted on paper."

Putting it another way, 10 total lower offers will help the seller realize that it's overpriced. But all it takes is one sucker who over pays (and assuming they need a mortgage) the appraiser now has the last word.

[dessertlover]

Originally Posted by AZPam

I can tell you from personal, every day experience that it still depends on price range and area. Anything from $175,000 to $225,000 or so in the east valley that is in decent shape and decent area will be sold with multiple offers in a matter of days. Get over $250,000 and it starts to slow down a bit, but not a lot. Seems more like the $400,000 and up range is still taking awhile, maybe 30 days, if it's in good condition. What is sitting on the market are the homes that are just simply over priced.

Keep in mind, I am talking east valley only.

I see that you are a real estate agent. Does this mean that AZ agents (working in cites like Phoenix and Scottsdale )can now make a killing with a decent amount of work?

[sarahdsmom]

Originally Posted by AZPam

I can tell you from personal, every day experience that it still depends on price range and area. Anything from $175,000 to $225,000 or so in the east valley that is in decent shape and decent area will be sold with multiple offers in a matter of days. Get over $250,000 and it starts to slow down a bit, but not a lot. Seems more like the $400,000 and up range is still taking awhile, maybe 30 days, if it's in good condition. What is sitting on the market are the homes that are just simply over priced.

Keep in mind, I am talking east valley only.

I agree, same thing on the west side. We are building in Verrado and sold our home just 8 miles east of there in two days, with a bidding war that drove it over asking. There are homes in the area over $300,000 that have been sitting much longer, here and in Verrado. The homes in the $175,000 to $300,000 that take a while to move here, are ones that require upgrades in the kitchen, new flooring or did not take the time to landscape the backyard. We looked at several properties in Verrado that match that description and were overpriced so we went with a new build.