I would have taken the $300,00.00 even if I had to wait for buyer financing. They listed that house low knowing it would be bid up.
Green Valley, AZ home, being sold for cash only, as is- just sold for 50k above listing price
- Thread starter GON
- Start date
There was a house locally that was listed for a low price, now this one needed everything and was lived in very hard the past 10 years, though it was a unicorn as it was on a few acres in town. And the house itself has lots of potential. We looked at it and I was going to put an offer in but there was basically a bidding war and I had no interest in that.
I believe in that particular instance by pricing it low they stirred up so much interest it resulted in a higher price than if they priced it realistically to begin with. I am very curious to see what iot sold for, it had almost 20 offers.
I believe in that particular instance by pricing it low they stirred up so much interest it resulted in a higher price than if they priced it realistically to begin with. I am very curious to see what iot sold for, it had almost 20 offers.
AZjeff
$50 Site Donor 2023
The thing the house GON posted has going for it IMO is while it's dated it's not run down and worn out from what you can see. When we were looking at moving here we looked at an estate sale property, the heirs did a quickie lipstick job on the exterior and didn't touch the interior. The price was reasonable for the house but when we factored in what it would take to 1. bring the kitchen and baths up to date and 2. do the repairs needed on worn doors, patched walls, cracked tile etc. it was going to be more than a new house. Nice lot but that wasn't enough.
I've had lots of cash buyers before but they all had one thing in common...their offers were contingent upon the property actually appraising for the contract price.
Most, but not all, buyers are not willing to pay more than appraised value.
Ed
Most, but not all, buyers are not willing to pay more than appraised value.
Ed
If they had a paid off home in California they had anywhere from $200,000 to $700,000 at a minimum left over......
AZjeff
$50 Site Donor 2023
$300k for a home on .34 acre lot that needs updating isn't throwing money around in AZ. It buys a mess in a sketchy neighborhood most places.
Looks like a nice place to me. Except the yard is too small and neighbors too close. Some California resident likely bought it as one like that here would be $750+
GON
$100 Site Donor 2024
Yes, I think it was a nice home. What caught my eye is the likeliness of a bidding war, for.a nice normal home with nothing special. This sale supports what I have been observing across the USA. The sales prices of homes are.not falling below Jan 2022 levels, and even for a decent normal home, not surprised to see bidding wars even though interest rates have rose over three percent from JAN 2022.
I see no home sale prices falling below JAN 2022 levels on a MACRO basis in the USA for now or the foreseeable future. If they do fall, it will.be from a.very significant event, that has not been seen in the USA for over 90 years. A hard recession will not reduce home sale prices below JAN 2022 on a MACRO basis. I speculate home prices will increase second quarter 2023 when comparing to JAN 2022 levels, not retract.
It just needs a lipstick remodel and only a 20 minute drive to Tucson so it's not in the middle of no where. Did a similar remodel in the house I'm in now, built in 1995, bought it in 2015 and it was all original. First two days of owning it was spent filling a 40 yard roll-off with pretty much everything in the house other than the drywall and the tub in the second bath.
Seriously-it's been a while since I have been to Tucson. How far is it now you have to drive to be in the middle of no where? Is it 40 minutes?