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Douglas Trudeau , Assoc. Broker
Prudential Foothills Real Estate
64 N. Harrison Road, Suite 160
Tucson , AZ 85748
Mobile: 520-954-2209
Contact Me

You’ve Got To Be Kidding

You’ve Got To Be Kidding, while going through some MLS sheets I am amazed that some homes are Real Estate Frustrated expected to sell. This one, “ABSOLUTELY DO NOT SHOW OR CALL MONDAY THROUGH WEDNESDAY, WITHOUT EXCEPTION!!!!!!!” got my attention. If a buyer comes into town Sunday night or Monday and is leaving late Wednesday or early Thursday morning, how are they supposed to see the house? Then comes the pictures, one of the front (blah), one shot up the stair (so what), one down the stairs (worse), and one of the pool in what appears to be a very small back yard. Couldn’t tell, because all you saw was pool and the neighbors homes just over the wall. No relation to the home. Next was comment about pricing, “Priced to sell! Below pricing of other neighborhood homes!” Now I’m going, lets check the comps. Are the other homes priced right? Are they over priced? Are they comparable to each other? How does this house really compare?

Somewhat correct, to a point, kinda, maybe. The other higher priced homes are larger. This home was $12,000 below them. The competition that is same square footage is $22,000 less. Sure it doesn’t have a pool. It does have a common area behind it large enough for a wide fairway or a short par 3 straight at the neighbors behind you. The sellers ask for a two hour notice because of shift work, which is more accommodating. It has been on the market for 142 days. The sales support a home that was 300 square feet larger that sold for $17,000 less.

I have to say, the one that got my attention was pulled off the market after 84 days. Eighty four days too late. It’s a Buyers Market. There are signs of a stable market coming back. But the jury is still out. Listings like this do nothing to help the recovery. They only hinder it. My point is, if selling a home know the market, know what motivates the sale, and be competitive.

I am reminded of Harley Davidson in the late 1950’s. They had beat out over 200 motorcycle companies since the Harley Davidson motorcyle 1903 culmination of Harley Davidson in 1903. They were the power house of motorcycles in the US. Their last true rival, Indian motorcycles, fell in 1953 or there about. Then comes these dinky little things from Japan called Honda in the late 1950’s. Harley Davidson felt no threat, no competition, oops. By the mid to late 1960’s Harley Davidson was in big trouble. Honda had a marketing plan and target group that Harley Davidson had never imagined. They didn’t list, so to speak, like everyone else in the market (neighborhood). Honda created a market unlike any before. They got out of the nine dots and blew an icon away. We all know that Harley Davidson has since recovered.

Morale of the story, know your competition if you expect to compete. Know what it takes to compete. Base pricing on sales not the desire of others. Be prepared to let buyers see your home on short notice when it is convenient for them. How many times have you driven to a store to find them closed, and never returned?

This entry was posted on Friday, July 27th, 2007 at 3:45 pm and is filed under Tucson Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Doug - what an awesome site! I Tomato does such incredible work. You’re no doubt reaping the rewards of having this site up and running!

Best of Luck to you!

July 27th, 2007 // Sparky
Sparky - Thank you for the comment. As time passes I am getting more and more activity. Each month it increases.

July 27th, 2007 // Doug

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