I've written about this 'pick of the litter' thing a couple of times in the last few months. The gist of my message was that although home sales are slower in the Tucson Foothills (down about 13%) and inventory is up, that it's not anywhere near the disaster that you hear about on the national news, and that the more desirable homes are still selling.
And they're selling very quickly in many cases, and catching buyers who think a slow market equals no sales, by surprise.
See, buyers market, Holy Cow!, pick of the litter and
multiple offers in the Tucson Foothills
This past Monday I listed what I thought was a
'pick of the litter' house in the Tucson Foothills, for $845,000.
(See it at New listing, not yet in MLS) It went into the Tucson MLS mid afternoon on Monday, and we got a lot of traffic right away.
We had a combination of 4 showings or previews that afternoon, and about 6 more showings/previews on Tuesday and on Wednesday.
By Thursday morning we had an offer, a good one.
And later on Thursday we got another offer, an even better one. When I arrived at the house on Friday morning to discuss the offers with the owners, there was a woman standing in front of the house who had seen the listing on the internet and came by to see the outside. Since I was there, she asked if I could show her the house. About 15 minutes after she left her agent called to let me know that she too was interested. I told him we had two good offers in hand and if they wanted in they'd have to move very quickly.
They weren't able to move that quickly but he said they'd be interested in making an offer if the other offers fell apart.
Well they didn't fall apart, and by early Friday afternoon it was all over, and one of those buyers got the pick of the litter.
Apparently these buyers were savvy and well informed about the local market in the Tucson Foothills. They didn't dilly-dally and they weren't afraid to make an offer on a brand new listing. They knew what they wanted, recognized a good thing when they saw it and realized that this house was going to sell quickly, despite the the fact that we're in a slower market, and that it's mid summer, the slowest time of year for home sales in the Tucson Foothills.