Business Opportunities on the Playground
While pushing Jason on the swings at the park late last week I was given a challange; list my Velez and get $650K for it. Fred Sanford used to speak of the "man" beating him down and sure enough "The Man", aka market conditions and government regulation are working diligently to prevent a $650K sale. 
Yesterday the short sale Velez at 3729 E. Robin Ln closed for $475K or $125 a sq ft - $650K comes to $171 a sq ft. This is a very nice home with great upgrades and an exterior entrance to the second floor bedroom that has it's own bath. Also there is a bathroom in the inner courtyard where the storage room is on most others. And did I mention the backyard? Large lot with pool, spa, sunken bbq area - really nice.
So I use all marketing methods I am aware of to market and sell this home. I love agents that advertise they have secret or unknown marketing activities they employ that other agents won't or are unaware of. This come on must appeal to folks that are entranced by bright shiny things. Here is an idea:
price it right and put it in mls where 90,000 agents can see it! Or you could use the "sold or I buy it" philosophy: If I can't sell it in 30 days I will buy it from you at fair market value - CASH! Oooops what if fair market value is $475K and you want it listed at $650K? We will surely get no offers and you will sign a legally binding contract to sell it to me at $475K. Does that sound like a good idea? Hmmmmmmm.
But Doug, short sales and foreclosures are not really competition for my highly upgraded and beautiful home. Ok but lets say I bring a buyer willing to pay $620K after lots of phone calls, contract addendums and generally worthless drama. Here is where "the MAN" enters your world. It doesnt appraise. I meet the appraisors in the street and gave them the comps that might support a high sale
price (which is entirely legal and ethical). But it does not appraise because they are going to look at the following Velez sales this year - short sale or otherwise these are comps that will be used by appraisors:
1.15.09 $415K
2.25.09 $412K
4.15.09 $410K
4.24.09 $410K
5.29.09 $470K
7.3.09 $378,500
Now if the buyer is paying cash - no problem - as there is no appraisal. The other "man" on onventional purchases is the underwriter sitting at a desk in Downers Grove, Illinois or someplace far away that doesn't believe the appraisors and tells everyone to start over. But enough of that. No cash buyer is going to pay $200K over fair market value. So there you have it. I'll be seeing you for awhile on the playground. When people get angry about this fairly straight forward approach to the realities of selling a home and decide to list with another who promises the sky, keep in mind the wear and tear on your family and pets as folks parade through your home. If your going to subject everyone to that then at least make the pain worthwhile by pricing it right. 
In other mls activity yesterday, the short sale Blanca at 22813 N. 39th Run is now pending at a list price of $469,900. Great news!
No Picture.
The highly upgraded San Felice with a basement at 3567 E. Maffeo Rd just leased for $3200 a month. 
The Fiore listing at unit #1142 in the Villages was cancelled. Listed for $229K it was on the market for 99 days.
Tags: aviano, desert ridge, phoenix, real estate, villages, toll brothers, Arizona
