Just realized my 'lowball' offer on a condo in Phoenix actually got accepted

I offered $15k under asking on a place that had been listed for 90 days, and they said yes without a counter. Did I just get lucky, or is this a sign the market is finally cooling down a bit?

2 comments

2 Comments

lucas1653d ago

Honestly I was convinced you had to go over asking no matter what, but my buddy just got a place in Mesa for under list too. Seeing stuff sit for 60+ days now when it used to be gone in a weekend. Maybe sellers are finally getting that the crazy bidding wars are done, at least for regular condos. Could be you got a little lucky but also the market is just different.

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johnson.adam2d ago

My cousin's place in Gilbert sat for 45 days before they had to drop the price twice. Lucas165 is right that sellers are waking up, but I haven't seen anyone talk about how many listings are just plain bad now. People who bought at the peak with terrible rates can't afford to sell for less, so they're listing at fantasy prices hoping for a miracle buyer. That's creating a bunch of stale inventory that makes the whole market look slow, when the good stuff at a fair price still moves pretty fast. It's not just luck or a shift, it's a mix of stubborn sellers and realistic buyers finally clashing.