Price Drops and Lessons Learned
Coming in to the new year, our motivated clients are dropping prices. In one case, the buyer exited the sale and lost their earnest money. It was a huge lesson for our client. See below for more.
See our listings page directly for more information.
Price Drop! 10018 E Indigo St., Mesa. 4br/3ba, 3,000sf. NOW $899,000
If you want space for all your toys, your garden and all your things, this roomy home and huge lot will be great for you.
The owners updated the flooring, the kitchen, the back yard and added a huge, four-bay garage. This is perfect for the auto enthusiast, or for all the toys.
That’s in addition to the three-car garage that is attached to the home! The additional garage bays are 30 feet deep and the entire garage is 50 feet wide with 8 foot tall doors.
You will be able to sit out on the back patio with amazing views of the mountains, with Usery Mountain Regional park almost out your back door. Whether you are all about indoor or outdoors, you will love this one!
Back on the Market. 1107 W. Osborn Rd., #101. 1br/1ba, 849sf. $195,000.
This is a rare condo in Central Phoenix for under $200,000 from a motivated seller who just did another price drop.
Since it was last purchased, the owner has completely remodeled the bathroom and has updated the kitchen to complement the historic features.
Walk around the grounds and you will see why people love living here. The trees are big and offer plenty of shade.
This particular condo is in the center of a beautiful breezeway, which feels like a green jungle, even in summer.
This listing is a lesson in how buyers can sometimes be, well, less than up front. We presented an offer from a buyer (and agent), who swore up and down that they had great credit and were eager to buy quickly. But as we got in to the process, we started to see what they were really all about. You can often tell when there begin to be excuses and delays that something may be going wrong. It turns out that the buyer did not disclose all of their financial obligations to their lender.
Crazily enough, they wanted us to just delay close until they worked it out. Naturally, we called their bluff and asked them to perform. Even crazier, once they pulled out of the contract, they still thought they could keep their earnest money. For those of you who know the AAR contract, this buyer definitely could not. We fought to get our client that earnest money payment and we won. It did not cover the cost of the delays and having to go back on the market.
But it demonstrates the value of having a team, like us, that knows that contract well.
