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Phoenix Real Estate and Homes for Sale | Jonathan Dalton, Realty ONE Group – (602) 502-9693

Jonathan Dalton
REALTOR
ePro, SFR
602-502-9693

Strange Days in Phoenix Real Estate

Strange Days in Phoenix Real Estate

avatarthumbnail.jpgEach day seems to bring with it a new, odd request … the type of thing which makes me think the insanity of 2005 hasn’t faded as far into the past as all of us may once have believed.

Recently I’ve been asked by some readers to send them blank real estate purchase contracts for them either to peruse or use as they see fit. At the risk of stating the obvious, as a buyers’ agent I am compensated on my ability to find the right home for a buyer, write the contract and help them through the escrow process.

There’s nothing that says you can’t do it alone but you have to admit it doesn’t make sense for me to send you a blank contract for you to do so. As I’ve written here before, you can write a valid purchase contract on a cocktail napkin. I just don’t advise it.

Another common question regards what a seller, more often than not a bank, might take for a home. I’ve got some idea of what price points might succeed and what might not. But having said that, there’s no seller with a functioning synapse who will tell you “yes, the home’s listed at $225,000 but since you asked I’ll take $160,000.” The list price is the list price. Make what you believe to be a fair offer and we’ll negotiate from there.

Some of the more reasonable requests also are the hardest to fulfill. Many deal with the photographs (or lack thereof) on the listings that appear on my websites. Photographs are the responsibility of the listing agent. Some of us take many photos, others can’t seem to be bothered to take even one.

Once formally hired by a client (takes about five minutes of discussion and a signature on the appropriate paperwork) I’m more than happy to fill in the gaps and photograph or video a home myself. Not so for those who want more pictures but also want a blank real estate contract they can fill in themselves. Again, that would seem like common sense.

It’s a strange market these days. I have more and more buyers looking at price points below the cost of a decent mini-van … almost all are stunned to learn many of these homes are selling for more than list price. Why? Simple supply and demand. The bank attaches a price intended to elicit multiple offers and create demand. And so it is that offering far less than list on a home already priced in the $20,000 – $40,000 is totally useless and writing an offer at list price is only slightly less so.

In this respect, and considering the questions coming through, it’s 2005 all over again at 10 to 70 percent percent of the price.

[tags]Phoenix real estate[/tags]

1 Comment

  • Strange, we have not noticed the same trend in Oregon. Many many houses are selling at far lower than the original list price. We are also seeing a lot of sellers lower their prices in order to try to keep competitive.

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