So… I have a few clients with homes they need to sell on the Westside, and as a service to them I set up a portal so we can watch the market together. We watch the market in the weeks leading up to listing their home, and then once it is on the market.
As we were watching the Westside prior to listing and marketing this home near the Petroglyphs we noticed that there was a pretty broad range of prices being put on the market and being put under contract. We opted to try the Seller’s magic number, and then we watched. Well, it got a few hits in the first week, but then it just kind of sat there. As an aside, I always like to try my Seller’s magic number first – just in case, but never for longer than two weeks. At our two week mark, we met and decided the price needed to drop. Turns out that our price drop was exactly what these buyers were waiting for. It went under contract the very next day! It is scheduled to close just before Thanksgiving. My Seller is thrilled that we tried her magic number, but that when we got realistic it sold quick. The Buyers are excited that they will get to celebrate Thanksgiving in their new home.
With this Seller, we were watching the market prior to listing. I noticed about two weeks before that there was a lot of inventory that was similar to this property going under contract. So, remember that magic number pricing? Well this Seller of mine needs to pick your next lottery numbers. We met to put the sign up and get the paperwork signed on over the weekend. That same weekend I noticed I had 5 calls from the same number – someone was REALLY trying to get a hold of me. Just as I was calling back, the number showed up on my phone as an incoming call; of course, I picked it up. A Realtor® who was in the area saw our stunning Q Realty sign and asked if they could take a look at it. They wrote it up just a smidge under our list price. We hadn’t even gotten the property loaded into the MLS. My Seller is thrilled that it not only sold so quickly, but that it went so close to her magic number. The Buyers are thrilled that after a long, discouraging search they will finally get to come home in time for Christmas.
So… the next time someone tells you that the real estate market is a flop, just tell them either of these two stories.