One Day Later

 Remember yesterday when single family home sales were at a 2021 high of 6,379 houses?  

Housing Boom

Well, look at this! We've more than doubled the inventory in 12 days.  

Sixty Three in Four Days

The Top of the World

As usual, the best way to get busy in real estate is to plan a trip. So, that's what I did. This past week Polly and I jetted across Arizona to a small corner of Cochise County to visit Mrs. Meadows. We also did a bit of hiking, animal watching (or in the case of a frightened skunk, animal smelling), laughing and got a first-hand look at the aftermath of the boarder crisis. 

Mrs. Meadows is 82 years old. Her computer was from the Bush 41 era. She is the only human being I know with dial-up Internet. Nope, not making that up. She lives at the base of the Dragoon Mountains and cell service is sketchy at best. Therefore, when one has a couple houses in escrow and needs to get answers to people on a timely basis, this is not the place to go. But I did. 

Most everything this week went ok with only a few glitches. Sorry to the appraiser who waited until the very last minute to ask me for the code to get into the house I have listed and then had to wait a few more hours for the text to get to me. Sorry also to the loan officer who needed to talk to me about this and that and had to wait until I drove to Elfredia so that I had a clear connection. My taxes didn't get signed just yet, but I got hold of Marty who was able to pay the accountant. And because even my e-mail didn't work way out there, I did ask one of the cooperating agents I was working with if she would wait an extra day to send me her papers, because I didn't want my client's contractual clock to start ticking when I couldn't even show the papers to my client. 

I'm back at home now and there are 63 new messages in my in-box. That's another by-product of leaving town. The work just waits for me to return.  

 

Where They Ain't

The baseball term, "Hit'm where they aint," is a great strategy for lots of us--especially in real estate. Dee wants to buy two homes. And when she looks at the MLS listings I send her they are usually gone. And honestly, I don't really understand why. She lives in kind of an undesirable zip code and the prices aren't any better than they are if I were to go to more desirable zip codes. 

Anyway, she got word from one of her felons that the house next door to the one they bought last year is being remodeled. Perhaps an investor looking to flip? Could I find out? 

After a bit of legwork, I did find the owner. The owner also happens to be a real estate agent. I pestered this woman for three straight weeks, asking for updates, before she relented and let us see the interior. The interior was in disarray, a usual site for a home under construction, and the back yard looked like a tornado had lovingly set down all of it's debris in it.   

Dee wanted it. If we waited another week, it would be on the market (even if the condition didn't change) and Dee would be in a bidding war. I knew this. The seller knew this and Dee wasn't willing to take any chances. 

We got this home under contract, with even a provision for them to clean the back yard and other terms the seller insisted on (like price). How did this happen? We were looking where they ain't. 

I'm Not Making This Up

 But I wish I was. 

This is for Maricopa and Pinal Counties. Maricopa County has 2,268 single family homes for sale. Pinal has 314.  

The Unicorn

On the super-secret real estate Facebook group last week, someone was commenting that she applied at Starbucks. There is no work for real estate agents. With inventory at an all-time low--2,711 homes in Pinal and Maricopa Counties--and 5.85 buyers for every home on the market, she isn't alone. There were a lot of people who felt the same way. I've been fortunate that Marty Sunshine has a job (even if the threats of layoffs always loom) and I haven't had to stress too much. 

I say that because I have a unicorn. A total unicorn! My unicorn is having three homes in escrow. Every agent I've talked to lately might have one, if any. But three!??? Nope. 

Now then, it might be the only three in escrow I have this year. But I'm going to enjoy my shiny unicorn while I have it.

Incidentally, analysts are saying this crazy market will start easing up later this year. We aren't going to be balanced for quite a while but inventory will go up.  

Quality Over Quantity

One time in my real estate life I took whatever client came along. And I was miserable. In fact--true story--my two worst clients came from Web sites. One of those two told me I was the reason her mother's cancer came back. The other threw her four year old son into a windows-up pick up truck (without the AC running, mind you) one June because he was running around the back yard of the vacant home we were looking at. I fired the horrible mother. I should have fired them both. 

Anyway, at the time after I fired the horrible mother, a friend said to make a list of what traits I wanted in real estate clients. It was an eye opener. Sure I've had some crazies since then, but for the most part, I've gotten to a point where I only work with who I want to work with. And to be honest, I really like my current book of clients. This change has made my vocation so much more rewarding. And hopefully I am providing quality service to the quality people I've chosen.  

Under Contract

By changing the price on my cute little horse property listing, I got more showings in one day than I did in one week. My seller also had a reasonable-ish offer. It wasn't the price that was the issue--that part was great--it was the terms of the offer. The agent apologized six ways from Sunday for the offer she put together. Her buyers wanted what her buyers wanted.

My seller countered back. No, she wouldn't close in May. No she wouldn't agree to this and that. But, she'd be happy to make the buyer's earnest money non refundable and please don't ask for repairs. And the closing date would be April. And let's all just go ahead and waive the appraisal contingency while we're at it. Thanks. 

And since both parties were asking for the moon anyway, my seller asked to use a title company closer to Pinal County than the one the buyer wanted in Carefree.

Anyway, its under contract now. But my seller is accepting backup offers.    

My Monday

Here's a tip: If you are a buyer or a buyer's representative, here is something you never say to the seller: "I don't think you deserve to make that much money on your home." Such a statement annoys the seller and probably negates any good will that might come from this point forward. 

In fact, if you are the buyer's agent and you are saying that to the seller's agent, the seller's agent (me) might be a tad repulsed by such a comment and start using multi-syllable words in her Big Girl Broker Voice (tm). 

My Other Listing

It seems a bit premature--at least if this weren't the crazy real estate market it is--to say I can't sell this house. But, it has been on the market for five days and we don't have any offers. FIVE DAYS!!! 

I have theories as to why, with inventory so stink'n low, I can't sell this property. They boil down to price and location. But, what do I know? My seller lives where my seller lives. My seller wants what my seller wants. If we don't get any more activity this weekend, I will talk to her about changing what we can change. And let's be real here, nobody is picking up this house and moving it closer into town. 

The place is cute. It is move-in ready. It has a lot that I'd want in a home if I wanted to live out in the middle o'nowhere, which I do. But I'm not buying it at this price either. 

Real Estate in 2021

 

This house has a potential buyer. Possibly. 

You see, I haven't put it on the market just yet because... well, reasons. 

But I did list it on Facebook with the idea that potential buyers and agents might see it. And they did. My phone has been ringing off the hook for two days. 

Only one agent (not her buyer, mind you) was offended that there was an 80+ year old man living there that had served time for serious felonies. She gave me an earful and had lots of opinions about the criminal justice system, people who commit those kinds of crimes and lots of other things that she felt I needed to know, as if that would somehow change what I was saying. Everyone else was ok with that, but not with the paltry amount of rent the tenants were paying. I knew the rental rate was going to be an issue.  

Anyway, one buyer saw my listing and is interested. We sort of ironed out the terms ahead of time. I--the seller's agent--sent him the terms my seller would agree to: price, close of escrow date, title company, etc. There was a time this was the buyer's responsibility. In this case, my seller wants what my seller wants. The buyer should be writing up the offer (based on my seller's demands) and sending it over today. If not, there will be another ten buyers waiting in the wings if I can ever put this place on the Multiple Listing Service. 

Memory Lane

I am selling this home. Or, rather, I would be selling this home if it ever goes on the MLS. Right now there is just a sign in the yard. 

Anyway, I got a call off my sign from Ronald. He wanted to buy it. "What does 'investors only' mean?" He asked and I explained that there is a long-term tenant in the home and they come with the property. Therefore, we are only selling it to someone looking to be a landlord. 

"Oh," and he sounded dejected. 

Normally I'd just hang up there, but something in the back of my head told me to hang on a moment. And I'm glad I did. 

Ronald went on to tell me this was his childhood home. He grew up there, his grandparents bought the home in the early 1960s. They raised their children there and then he lived there with his grandparents as well. He had happy memories of the place. He started telling me about the neighborhood and some of the neighbors and that's when I jumped in. 

"You know, this is my old neighborhood too." I said. "I went to school with (next door neighbor) Bob's daughter, Lisa." 

Ronald is 35 and I am pretty sure I know who his father is (a couple of years older than me). I know his mother was in the class right behind mine. It was fun to walk through memory lane with this perfect stranger and for a moment I was seven and playing on the swings with a seven year old red-headed Jane. 

"Did you go to Sahuaro School?" Ronald asked. 

"I did," I answered.

"You know who the best teacher there was, right?" 

"Mrs. Meadows," we said in unison, which brought up a lot more reminiscing for the two of us. He reminded me about the snakes in Mrs. Meadows' classroom (she always had several, along with tarantulas, scorpions, lizards and other critters she thought we should learn about) and I told him how she now puts snake shot in her .38 because the shotgun is just too much for her. 

Later that night, I sent Mrs. Meadows a text, telling her I ran into one of her former students from about 25 years ago. "Oh... I remember Little Ronnie!" she replied. And I'm guessing then she took a walk down memory lane herself. 

Perspective

Every morning my brother sends me a text (even when he was staying with me) telling me about his listing. As of this writing: 27 showings, 8 written offers, 2 more promised offers. They will be "reviewing" all offers tomorrow. I think he can safely say his house will sell. 

My listing in very far East San Tan Valley went on the market this morning. So far no showings, no offers. I recognized instantly that I felt defeated and started analyzing everything I have done wrong to harm my clients. The house is over-priced (it is what my folks wanted to sell it for and I have no comps to suggest otherwise). The photos aren't great (I'm gonna kick my photographer in the shin when I see him for forgetting the workshop photo). It is too much of this and not enough that. And what if I fail my sweet folks??? 

All of this and more have tap-danced though my head since I've been up. It's 9 a.m. and I am in the early stages of panic. Come on world! Bring me a buyer.