Where the Buyers Are

Somebody Buy This, Please! 

Last week, in an tsunami-like manner, the Phoenix housing market went nuts. Anything under about $350,000--even the garbage homes, mind you--were sold same day with multiple offers. It was like all those soon-to-be-homeless had enough pent up energy, stimulus money and tax refund cash to go house hunting. And did they ever!

As of this writing (Saturday morning) there are 10,832 active single family homes for sale.* That isn't a lot. According to Sarah, my title rep, inventory has been crashing and escrows are escalating. According to other agents, anyone in the biz who is complaining about not being busy isn't trying. I have to agree. I have been running around like crazy this week.

Which bring me to the point of this post. I have had zero showings on my sweet listing since Monday. ZERO!!!! I am perplexed. The house is adorable. It is clean, functional and has all the goodies buyers like, such as roof, floor, windows. In this market, honestly, buyers can't be too picky. But in all seriousness, this house is really nice. And that is why I am befuddled. I have sold garbage homes. This one isn't garbage.

My theory is simply that all the sellers who wanted to move into bigger homes who got offers this week are now waiting through the buyer's 10 day inspection period (which would be next week). Once they know for sure they are selling their home and their buyers are committed, they will be out in droves next weekend. I hope.

I did ask a few agents for feedback in the past few days. After all, no showings is weird. I mean, it isn't as if I am getting buyers looking at the place and rejecting it. I am not even getting that. The strangest feedback I received was from someone in the business longer then me. And frankly, I am not sure I even know what to make of her comment. She said in the interior photos, the place looked like a "grandma" home. Why? Because there is a china cabinet and grandfather clock in one picture. I seriously doubt that is holding up buyers from looking at the entire property. "No, no Mary, we simply can't see this house! Look at that ghastly grandfather clock!"

My realtor pal, John, checked Zillow. The property is syndicated properly. He also looked at the photos and assured me the place looked great. And then, he had no other answers and agreed, it was strange nobody was looking at it.

At this time, I have one showing scheduled. It is John--who said he would take a peek at it in person as a courtesy. Nor does he have a buyer.

My seller, though very pleasant, treats me like she doesn't trust me (nor does her dog Ruby). It is apparent when we talk, but it comes with the job. I see her as vulnerable and concerned, not wanting to make bad choices while getting the most out of her equity. She loves her home. This is tough for her. She wants someone to love her house as much as she does. And I would like to make that happen for her. I just need to figure out where the buyers are.


*There are 13,727 active units for sale--that includes condos, townhomes, manufactured homes, etc.