Last month I wrote about the impact of Covid-19 on our local real estate market and I stated that I felt the North Central/Biltmore areas would remain strong because most of our sellers live here year round. I have always felt our area will always recover faster because of its central location to the whole Valley, amazing schools, the best retail and restaurants in the valley and proximity to the court houses and hospitals for the lawyers, doctors and nurses living in our ‘hood.
Ihad a listing that I am proud of that just closed in April for $4.1 million, which is located at 2205 E. Colter St. (in the area of 22nd Street and Missouri). This magnificent home is 11,000 square feet with a large home theater that is situated on 2 acres. This is the most amazingly constructed home that I have ever sold in 28 years. The home was on the market for over a year when we took over the listing. We advertised the home in the North Central News, sent out more than 5,000 postcards, did an amazing video of the home including drone shots, marketed it over all the internet sites and had a large realtor tour visit the home.
We actually had it in escrow in just 3 weeks but it was contingent on the buyer's home in Arcadia selling, which we had it in escrow for $2.6 million. Everything was looking good until Covid-19 hit us in March and the buyer for the Arcadia home canceled because of the stock market. Two weeks later I convinced the sellers of the Colter home to purchase the Arcadia home of the buyer that was in escrow because this family loved the Colter home but had to sell the Arcadia home. This time the Colter home closed in April for $4.1 million and now the sellers of Colter will sell the Arcadia home, which will be a little easier to sell with 5,400 square feet instead of 11,000 square feet.
My point of this month's article is, first of all, to not give up on a sale and, second, sometimes we have to be creative in our marketing strategy to achieve the results we are after. IT ALSO TAKES A LITTLE LUCK.
I hope all of you have a safe summer and, most importantly, I hope that all of you who own or work in a local business are back to working again. Congrats to all of our 2020 graduates and much success in moving on to the next level of either school or joining the work force. I am guessing that the last three months will be a time that all of us will never forget!!
Elite Group Manager/Founder
5225 N. Central Ave., Ste. 104
Phoenix, AZ 85012