The Tucson real estate market doesn't just have a great pulse...it's on a serious caffinated rush! Buyers know that now is the time to get off the fence and buy. Sellers are starting to understand when we say "We need inventory!!!"
Case in point: a week or so ago, I received a referral for a wonderful couple buying their first home. I went through the regular protocals - calling and chatting with him, setting up an MLS portal and then reviewing his favorites. I was a little nervous at first - he was looking in that all too hot price point: below $100,000. I explained that this price was moving very fast and if we found him The One, he needed to be prepared to move fast. He and his wife settled on 2 that they wanted to see. We went to see them, they went home to figure out which one it was. Again, I reminded him to not wait more than a day. He didn't. A couple of hours later, there was an email. "We want to offer $XYZ on 123 Main Street." Awesome. Come by the office in the morning and we'll get the offer signed and ready to go. The offer was accepted the next day and today we did our inspections. We'll close in a couple of weeks.
We were so lucky with this deal - others showed up to make an offer after ours was accepted. Karma was definitely on our side.
Case in Point 2: My soon to be better half has been working with out of town clients looking to buy something for their student son who is attending the University of Arizona. Their price point is a little higher than my clients. They know the urgency of making an offer on The One. They've gone through 3 offers so far with none accepted. Today, he found a home fresh on the market that would be perfect for them. He calls the son, they go and see it. Right now, he's writing up an offer for the parents in California to sign. (Thank goodness for electronic signatures!!) Our fingers are crossed - he was the first to see it this afternoon and, by the time he got back there with the son, there had been 3 other agents through. That was in the span of 2 hours.
Case in Point 3: How hot is this market? My better half's clients experienced the following: Home on the market for 2 days. As they are previewing it, better half calls the listing agent to let him know they were going to make an offer. "Sorry, we just accepted an offer not 15 minutes ago". Meaning, that as they were walking in the front door, the sellers were saying yes. This is happening all over the place. (I jokingly said, "OK. I'm going to call the LA before walking in the front door to check the status. When we're done, I'll call again to check.")
This is the reality of the market in Tucson these days. And, as I read blogs by other agents as well as talk with them, it's pretty much the market all around the country. If you are serious about buying today, you MUST have all of your ducks in a row - pre-qualification letter or proof of funds for a cash deal - and be ready to sign on a moments notice.
Gone are the days of going home to mull it over.
Gone are the days of lowballing and hoping for a 'steal'.
Trust me when I say listen to your agent. If you want that house, don't wait - get that offer in as soon as possible. And, if that first (or second or third) offer isn't accepted, don't get discouraged. Keep on keepin' on. You'll get there!
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