Monday, December 29, 2008

The Phoenix Real Estate Market

Some days working as a Realtor is pretty discouraging. Buyers are scared to buy a house now, afraid it won't be worth what they paid for it on the day they take possession. I'm not sure I can blame them.

Cash investor buyers make offer after offer at 50% of list price or less, only to be turned down or beat out by other bidders.

Too many sellers seem to still be desperately clinging to the idea that their house is the one in a million that has increased in value over the past 24 months. And they want me to spend my hard earned dollars on advertising to find "the one buyer who'll really appreciate it." Of course what that means is "the one idiot silly enough to overpay for it."

It seems the topsy turvey market is bringing out the worst in people. Some days the only sane way of dealing with this craziness is to have a stiff drink at the end of the day. Cheers!


image courtesy of user cx ed over at stock exchange