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The Buyers’ Agent Strikes Back

This strategy isn’t going to work. I’ll tell you that up front. But, if nothing else, it’s a symbolic effort on the part of the buyers. We submitted an offer on a short sale today, full price and cash. We almost immediately received a multiple counter offer with a response deadline of Tuesday. Tuesday, as in four days from now. In went our highest and best with one important clause – we’re giving the seller until noon tomorrow to accept our highest and best, which is a bit above asking price. Basically, if the seller has a better offer in […]

Rome is On Fire, Have You Seen My Fiddle?

There are moments when I truly wonder what I’m doing in a profession filled with the short-sighted, the kind of people who by and large are content to grab some graham crackers, chocolate and marshmallows as they watch the world burn. From a Facebook conversation … “Do you work at Zillow?” “Why yes, yes I do. I’ve been there for three whole days.” “I *LOVE* that web site! My husband and I use it all the time. We’re looking for a home in Wilmington, Delaware.” “Awesome, thanks for visiting! What do you like about the site?” “We think we’ve found […]

Phoenix Real Estate Inventory Below 9,000 Homes

Checked single family detached homes in Maricopa County this morning and this was waiting for me: If you happen to have equity in your home and you happen to want to move to something else, there’s a golden opportunity to sell into a market starved for inventory. We’d still need to figure out the buy side of the equation, but that’s another story.

Baseball, Real Estate and Critical Thought

I am a man of two worlds. There is the real estate agent who has built a business out of absolutely nothing in the course of the past eight years. And there is the sportswriter who has been hanging around press boxes for the past 24 years and often is stunned by the changes that have taken place. In some places these world collide, not Fringe style, but still … Twitter, once the play thing of technogeeks real estate and otherwise, is mainstream to the point that it now is considered a news source. Everything you need to know available […]

Everything is Big When You’re in the Anthill

In this instance, a picture truly is worth a thousand words. I’m still going to write them, but still. Those ants, courtesy of Carl Feldman via Flickr Creative Commons, are going to work on a yucca plant. Consider this is one stem of the plant. To these ants, though, it must seem like a large portion of their world, a continent of green as it were. From where we stand, though, it’s just a yucca plant – another part of a larger landscape, no more, no less. I pulled this comment off of yesterday’s post just in case you didn’t […]

About that Shadow Inventory – Some Fannie/Freddie Reality

There’s a theory floating around that one of the reasons there is next to zero inventory in the Phoenix real estate market is Fannie Mae and Freddie Mac are holding homes off the market. Not to poke a hole in this well-reasoned, somewhat well estimated and unproven theory but … Checking the tax records here in Maricopa County, Freddie Mac owns 655 homes. Note, I don’t mean 655 homes listed in the MLS … per the tax records, Freddie Mac is the owner of only 655 homes in Maricopa County. The real monster lurking is Fannie Mae, which owns right […]

Hello Pot, I’m the Kettle

A little inside baseball … Noticed this comment this morning by the author of another blog: Seriously, an agent closing fewer than 20 houses a year, on average, should find another job. He can do a lot better, hour for hour. Of note: the author’s two-person brokerage, according to the MLS, has sold 135 homes in it’s 6 1/2 years of existence. Conveniently, that’s 20.7 homes per yer per the MLS. Oh, but wait … there are two agents in the brokerage. That means, on average each agent is selling 10.35 homes per year. Less than one a month. Perhaps […]

No, I Didn’t List Your House for Sale on Zillow. Here’s Why.

If you really want the most money possible for your home in the shortest time possible, gaining marketing exposure far beyond even what Zillow may promise, click here instead. It’s no coincidence the vast majority of my listings are selling in a couple of weeks and not months. But if you’re okay settling for the far fewer potential eyeballs Zillow will attract and far more time spent on the market rather than moving forward, just click here and then on the Zillow icon at the top left. And with that, I invite you to read on … * * * UPDATE – September ’13: Since writing […]

CNN Money Predicts ‘Rising Tide’ of Homes; One Only Can Hope

From CNN/Money: NEW YORK (CNNMoney) — The number of homes entering foreclosure dropped in February, but a new up-turn may soon be on its way. The reason? The $26 billion settlement between 5 major banks and state attorneys general over past foreclosure practices. … “The pig is starting to move through the python,” said Daren Blomquist, director of marketing for RealtyTrac, which released its foreclosure report for February on Thursday. If that’s the case, let’s by all means get that pig shoved through the python’s back end. Assuming a python has a back end … I’ve never checked. To keep with CNN’s […]

Beware of Walkers

We’re becoming surrounded by walkers, folks. If you don’t watch The Walking Dead, walkers are mindless zombies whose only purpose on the planet is to feed on the living. In this week’s People (or was it Us … hard to keep track of what the wife leaves in the bathroom on top of my Sports Illustrated) Sarah Wayne Callies says it’s not a question of whether her character will die and become undead but only a question of when. I’d like to think the same can’t be said of your humble host and his beagles. Imagine that … the real […]