Received a counter offer... and boy did I smile, not that my buyer is going to like the counter, but this COUNTER may be a SIGN of a GOOD THING in Phoenix or a SILLY AGENT at the moment.
Phoenix RE market is back!! IS It??
It is and has been back..
Back in the day, or shall I say, back when you
were writing offers on the hood of your car all day long.
I received counters like this daily, so to receive one like this for the 1st time since our market crashed it was a surprise..
1. Price to be $149,000 cash (well he did come down 1K BUT we are getting a loan conv. w/ 50% down) he wants cash (lol)2. EM to be 2% in certified funds or wire to Pioneer Title within 8 business hours of mutual acceptance.
3. COE to be on or before Dec 2, 2011.
4. Inspection period to be 5 days.
5. No SPDS or CLUE provided by Seller.
6. EM to non-refundable and released to Seller after mutual acceptance of BINSR.
6. Buyer to waive appraisal contingency and purchase property for agreed contract price.
Come on I know you remember those days!!! Remember When!!
I must say the property is over priced (the last unit that sold and closed 25 days ago sold for 95K)
This seller wants 150K (wondering why he wants us to waive appraisal contingency..:) just a little over priced. BUT he did do a hell of a remodel on it.
With a hard ball counter I am wondering if he has 2-3 offers... I guess we will see. We went in at 125K giving him 30K.. I really expected a better counter..
The market in Phoenix is back, as in Properties are selling.. and has been back. Properties are selling and selling fast.
Is it a good time to buy? Well that depends on your needs.
There are great deals out there, lots of value in Phoenix and great interest rates.
Most properties are receiving multiple offers at least every property my clients are offering on. I have been busy very busy 2010-2011.. The prices are down and investors are buying everything they can get there fingers on....
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