This morning I took a listing in Highland at Arrowhead Ranch in Glendale Arizona. While every seller hopes for a quick sale, this seller backed their hopes with a sales price on the leading (if not bleeding) edge of the market – $358,000 for 2,000-plus square feet with a pool.
Phoenix City Living discussed many sellers’ continued reluctance to price realistically. And if I have any fault as a listing agent, it is in not insisting strongly enough on a 60-day price – a price at which a home should sell within 60 days. I don’t purchase listings – providing false hope with an inflated home valuation. But I sometimes allow the sellers minor leeway (say $5K or so) in the face of the evidence I present.
Why? In some part it is the knowledge that if I pass, someone else will not. And I have enough confidence in my ability to build trust that I believe any needed price reduction will come if not easily then at least with a minimum of strife.
In any event – this is two listings in two weeks with another two in the works, and 11 active listings overall. If inventory truly is king, Tobey and I are well positioned.