Crazy!  A word I’m hearing nearly every day, and I’ve got to agree. In some ways, this market is crazy.  I am working with a darling young family to find them just the right thing.   They need at least 1800sf and a 3 car garage, or an RV gate.  By last year’s standard, their budget should be ample at $200,000.  Our latest offer was for a late 1990’s home in Gilbert, not updated, nothing spectacular, but in a respectable community, and possessing that 3 car garage.  When I showed the house to them on Thursday, the first day it was on the market, it was beyond messy, and was in obvious need of some deferred maintenance, if not a total re-do.  During our 20 minutes at the house, there were another 2 showings. This home was listed at $170k; my buyers, taking a very realistic approach, offered $192,000, but maintained the appraisal and other contingencies.  I was just informed that there were 18 total offers on this house, including several cash offers.  We lost out to a cash offer “near the $200k mark.”     Oh my, what a difference a year to 18 months has made in this market.

Another active buyer is visiting from out of town to see a few places in Ahwatukee and north Scottsdale.  Two homes they had on their list were new listings, under contract within a couple of days.  Pickings are slim for nice homes meeting their wish list, despite their generous budget of $500 to $600k.

Past clients and future selling clients:  Thinking you want to sell?  Let’s talk!

A few Arizona and/or Phoenix relevant news pieces:

Arizona Shows Big Jump In Construction (AZ Republic) 5/8/2012

Arizona’s mortgage improvement fastest in U.S (azcentral.com 5/9/2012)

Arizona housing on the mend: Why it’s time to sell or buy (KTAR.com)

And for those contemplating home upgrades with an eye to recouping when selling:

6 worst home fixes for the money (bankrate.com)