Posted On: June 8th, 2021 10:19PM
Regarding our current state of our real estate market I have just one word to express what is going on…INSANITY! Those of us who have in lived in North Central for a long time have always known how great it is
to live in this area and we are finally getting discovered by the rest of the country.
I want to thank my clients who have allowed me to sell 41 homes so far in 2021 (including eight homes for more than $1 million including a home for $3.5 million). We have some GREAT long-time agents in our ‘hood and I especially want to thank two agents who brought me buyers on day one of my listings. The reason we got the deals done is because of great communication between us to make it easier to sell the home. I will be honest with you guys - that just does not always happen enough in today’s world. Steve Caniglia of North & Co. brought an out-of-state buyer to a home that I listed for $1.65 million on day one and after working out all the details (about eight calls), we are set to close in a couple of months. The seller did not want to move until June 1 but we made it work by being creative.
The other agents who were fantastic were Katie and Nancy Cotton of Realty Executives, who called me on a home we had coming soon in Paradise Valley for $2.395 million. My seller there also wanted a few extra months after closing to find a home so we worked it out for the buyers to lease back to my seller for a couple
of months. The Cottons and Steve Caniglia are an excellent example of the great agents we have in North Central.
In today’s crazy market we are forced to think out of the box to make deals happen because it certainly is not just as simple as listing and then selling anymore. Creativity in selling or buying a home today is about having enough experience in selling real estate and figuring out a solution for each buyer and seller … and, again, COMMUNICATION is huge. I cannot say enough about how great it is for me to have such experienced agents such as Steve Caniglia and Katie and Nancy Cotton to work with.
Another creative marketing tool today is COMING SOON as long as it is used properly and not abused. Some sellers are not quite ready to have their home active for about 2-3 weeks while they finish cleaning and fine-tuning their home to sell. Since there are about 100 buyers for every seller today, my suggestion to my clients is let’s make the home COMING SOON so buyers will have notice that your home will soon be available. In 2021 I have had seven homes sell while they was listed as Coming Soon because I knew the agents who called me to see them and we made a deal before they went active.
The best advice I can give a seller is to work with an agent who sells in your neighborhood. There is no substitute for an experienced agent who knows the values in the area because he or she has lived in and sold in that area for many years (30 years for me). In today’s every changing real estate market, my suggestion to you is to HIRE A NORTH CENTRAL REAL ESTATE expert to sell your home.
Have a wonderful April and Happy April Birthday to my wife, Mary Ann, to yours truly, and to our son Jesse Milleson. Please keep being safe!
Posted On: June 8th, 2021 10:18PM
Are we really into the third month of 2021? I hope you guys are all staying healthy!
I want to thank HomeSmart International for naming me the #1 producing realtor in our company for 2020 with 125 sales and more than $90 million in sales. HomeSmart has more than 7,000 realtors in the Valley and 20,000 agents throughout the country in 30 states. We also now have 550 agents in our North Central office that I opened 10 years ago with just 12 agents. I truly am very thankful to all of my clients over the past 30 years (over 3,800 homes sold) and many of you have purchased multiple homes from me.
I also want to thank Fox 10 TV for interviewing me on Feb. 15 on the Phoenix-area housing market, where many buyers
are currently paying far over selling price in order to buy a home. The last four to five months are the craziest I have ever seen in real estate and I feel it will continue throughout the rest of the year. Our area is seeing buyers who are moving from out of state and they see that you can get more value in the Phoenix market then from where they just moved. Even local buyers are paying over listing price and some are even waving inspection and appraisal contingencies. Some agents are having potential buyers make offers and three days later they will announce who the winning buyer is.
One advantage that I feel that has worked for me is I have been predominately a listing agent for 30 years although I do find myself representing many buyers now because of the demand. I really believe in listing some homes as COMING SOON, which allows the seller a few weeks to get their home ready but still allows me to show the home without using up days on the market. This has helped us in selling 19 homes so far in 2021...
My wife, Mary Ann, is now a licensed realtor with HomeSmart and she had a first-time buyer who fit the exact profile of a home that I had as a COMING SOON at 1 E. Butler. She showed the buyer the home and we made a deal with the seller who was thrilled that they did not have to deal with having many agents and buyers through their home and they got the price and terms they wanted.
If you have a home that you are interested in selling or if you ready to purchase a home in the next few months, please give us a call.
Have a great March!
Posted On: June 8th, 2021 10:16PM
I want to thank the 12 clients who have helped us start 2021 with a bang by purchasing a home from us. Some of these buyers have not had an easy time finding a home to buy with limited inventory but we found what they were looking for. One of the difficult decisions a home seller has to make is when to put their home on the market, not knowing if/when they can find a home to move into. My real answer is work with a realtor who has knowledge of the market and has a good relationship with other realtors because in today’s market it is all about relationships and loyalty.
Prospective homebuyers should not expect bidding wars to go away or for prices to dip in 2021, according to my good friend Catherine Reagor of The Arizona Republic. According to Catherine, home sales hit a fourth-quarter high in 2020 and the shortage of houses for sale is near a 10-year high. Demand for homes is 31 percent above normal and supply is 71 percent below normal, according to Tina Tamboer from the Cromford Report, who spoke at my monthly meeting in January. Tina also said we cannot even start discussing prices going down until supply and demand are back in balance.
How does knowing that our supply of homes is very low work for a prospective buyer? It really comes down to a little bit of luck but most of all working with a realtor who has contacts in the particular area you want move to and spends a lot of money on advertising in a particular neighborhood. Let me give you an example of how this works. I went on a listing appointment in early December and the seller told me when he wanted to list his home and for how much.
My wife, Mary Ann, who is now a licensed realtor, told me she had a buyer who was looking for a home which just happened to describe the home that I was getting ready to list. As soon as I listed that home, we sold it to that buyer in 20 minutes for full price and both the seller and the buyer were thrilled with the results.
I listed 130 homes in 2020 and we sold 18 homes before they actually hit the market because we also had a buyer who fit the profile of the home we were getting ready to list. We also have sold five of our listings to buyers in 2021 before the homes went active. Please give me a call when you are ready to list your home and/or you are looking to purchase a home and we will do our best. My wife is much nicer than me so you now have two choices when you want to work with our team!!
Please stay safe!!
Posted On: June 8th, 2021 10:15PM
Welcome to 2021!! Lets hope it will be a healthy and happy year. My best to my fellow bar and restaurant employees/owners!! Truthfully, any of you who are in an industry or business that is impacted by COVID, we are praying for you to survive this ugly time in our world.
I appreciate all of you who have supported me for the past 29 years in specializing in North Central, especially in 2020 when we sold 123 homes. I was lucky enough to sell 25 homes over $1 million including a $4.1 million home as well as 36 homes under $500,000.
North Central has prices all over the board, which is why I love this area so much. There has been so much remodeling going on the past two years, which also includes a lot of new construction.
A couple of interesting changes have taken place in the past 12 months, one of which is that is some homes are getting multiple offers, which forces some buyers to waive inspections and appraisal fees. There certainly is a risk in waiving these fees, so please understand the consequences when you do waive certain contingencies. Waiving these rights could place you in a delicate situation.
I am asked what major changes 2020 brought to our market – I feel interest rates and lack of inventory helped our home values soar to all-time highs. Certainly the pandemic will be felt in our market for years to come, so let us hope that things get back to normal within the next five to six months.
Certainly the luxury market is at all-time high in North Central, so if you are thinking about listing your home in 2021 please give me a shout out. I currently have five clients looking for homes between $1 million and $2 million+ on a one-half-acre-plus lot. North Central is no longer the Wild Wild West!! Truthfully, if you have any home for sale in any price range, please call me. We will get it sold for you.
Please list your home with an agent who lives and breathes North Central (ME!!). I will match our neighborhood feel with any local area of town. Please ... please ... stay healthy and take care of yourself and have a happy new year!
Posted On: November 1st, 2020 5:49PM
November, some of you may know this, is National Gratitude Month. Seems logical because of Thanksgiving, but it does mean to take a moment, be reflective and practice gratitude and give thanks for my clients, family, and friends.
There really isn’t a day goes by that something or someone reminds me of my dad, Herb Lieb. He introduced my brother and me to so many wonderful, lifelong friends after living in Phoenix for over 40 years. He was incredibly loyal to these friends and his family. He instilled in both of us that there was literally no substitute for loyalty. I understand and am very grateful for this lesson and could not agree with him more.
It was a natural progression to choose to specialize in real estate in North Central Phoenix because the area had been home to dad since he moved here in 1964. As some of you know he had a retail store and nightclubs here also and we had been visiting and eventually living here and raising our families. For this reason, I am certain it has given me a real advantage in assisting sellers and buyers with more than 3500 homes in almost 30 years. North Central is my home! When you hire me, you hire an agent who knows the values in all of the North Central neighborhoods whether it is $200,000 or $5 million.
This month I had the pleasure of selling a home to Victoria and Blake Lewkowitz who are actually buying their 2nd home from me since they moved back to Phoenix a few years ago. I sold their home in Central Phoenix in four days. Blake's Dad, Herman, a former workout partner and friend, and his grandfather Jerry was one of my dad's favorite attorneys. Dad had a few attorneys. Thank you so much to the Lewkowitz family for their continued loyalty.
Marsha and Richard Smith first hired me 22 years ago to sell their home in Paradise Valley. I then sold them their home in the Biltmore area 21 years ago. We just resold this Biltmore home, as they have decided to move out-of-sate to be close to their grandchildren. They have been incredibly loyal for over 20 years and three homes. Thank you to the Smith's for their loyalty, I appreciate you both.
I wanted to also thank one of my clients and his family, who would prefer to stay unnamed. They have bought more than 10 homes with me over the past twenty years (five were investment homes). Thank you for over 20 years of loyalty.
I would like the opportunity to work with you to achieve top dollar in today's unique real estate market. I am the agent who lives and specializes in the North Central community. I don’t have a team of agents, so to quote my good friend, Jeff Pollett (my dad was great friends with his parents as well) “When you hire me you get ME!”
During this unorthodox year of 2020, I have sold 115 homes, so far ranging in prices from $65k to $4.1 million. Fifteen of the homes were priced at more than $1 million. Instead of specializing in just luxury homes, I am the real estate agent specializing in our area with a myriad of values.
Thank you to everyone who has believed in and trusted me to assist with home buying/selling needs.
Special Thanks to Phoenix Magazine for including me in their Top Real Estate Producers for 2020.
Here’s to my sincere gratitude and wishes for a safe Thanksgiving,
Bobby Lieb, Associate Broker