Two weeks ago, in more on pick of the litter, I wrote about a home that I had just listed for sale and how we got two very good offers on it, after just two days on the market. And this was no cheapie home either, it was listed at $845,000. (The point of that piece was that the good homes, the pick of the litter homes, are still selling very well in the Tucson Foothills. A point that I've made, OK, harped on, again and again for some time now) Anyway, after a few days in escrow, and as the buyers were doing their inspections, the mortgage mess suddenly billowed out from it's corner in the subprime arena, to engulf the entire mortgage industry and credit markets worldwide. Spooked, I suspect, those buyers walked at the 11th hour, after 12 days in escrow.
At the time that we went into escrow there were other buyers interested in that home, but they'd hesitated a couple a beats too long. So I put the house back on the market the next day, Saturday, August 18th hoping that at least one of them would come around.
But with suddenly tighter, more expensive lending, particularly for jumbo loans, and fewer options as lenders were closing their doors,
I was feeling less optimistic about getting another good offer anytime soon. I figured this mortgage thing was going to have to shake itself out a bit before buyers started showing their faces again.
Wrong. Right out of the box we had one showing after another.
And yesterday, again after just two days on the market, we got another very good offer and went into escrow, again, while another agent was trying to schedule a third showing, for her apparently very interested clients.
So at the risk of beating a dead horse- there are buyers out there who want to buy a home in the Tucson Foothills, but these days, they all want the pick of the litter.