Is your Prescott, AZ home a unicorn, or are you on the hunt for one of these rare beauties? Watch this video to find out what types of homes qualify as thin market homes in Prescott, AZ, so that you’ll know how tough your dream home will be to buy – or sell!
Video Transcript
Hello, hello, hello. This is Diana Randal Breaux. Hello peeps. We are so happy to be here this afternoon. She’s the Prescott Pickle lady. I am her sidekick. That’s right. That’s right. We are your local real estate husband and wife team. Do we fight sometimes? Sure. Yeah. Uh we try. We just don’t record it. We don’t record it. I’m like, “Okay, stop right now.” Yeah. Yeah. Hit the stop button. Hit the stop button. So she can punch me. That’s right. Yeah. Here to talk about something called thin market homes. Yes. Yes. So when you come to Prescott, uh there are categories of homes that are just you got tons of them. Okay. So you know you are interested in golf. Uh you want to join a golfing community, maybe be on the golf course, have views of the golf course and lots of amenities. That’s a that’s very common. That that’s a very and that’s easy that’s an easy thing to find. You know, maybe three bedrooms uh or two bedrooms and an office, you know, that’s sort of the middle of the fairway, if you will, right? Yeah, absolutely. Yeah. If you’re looking for a home uh that has five bedrooms, really more for a family, uh a younger family, those are unusual. Might be a little harder to find. Might be a little harder. And so that’s a thin market home that there aren’t a lot of buyers looking for those homes and there are not a there’s not a lot of supply in homes like that. So when you are a seller, you need to understand if you’ve got a thin market home that it may take a while before you find your buyer to find that special buyer. Um they’re not always out there, you know, so it might take a little long. It’s always um as I say, a crapshoot. That person could come in tomorrow and be like, “Oh my god, this is it. I’m going to grab it.” Yeah. And if it is that kind of house, you should grab it. Yeah. Um because they are hard to find. Yeah. So, an example of that would be like if you like an adobe style home. We don’t have a lot of adobes here, believe it or not. I mean, you think you would. Um, but if you really that’s your favorite style and say you want an adobe on many acres of land and you don’t want any neighbors around you and there it is and you find it and you’re like, “Yeah, we might be able to find you two on that are currently for sale and it would be hard. I mean, it would be hard.” But if it’s in the right price point, it offers the acreage you want, it offers the style of home you want, it’s movein ready, don’t dwaddle and think about, well, I don’t know if that’s the right price. Grab it. Yeah. because it will somebody else is out there looking for the same thing and they they know it and it will be gone. Yeah. You just never know. Yeah. What is you know? All right. So the dynamics for the seller. So you have a thin market home whatever it is adobe big family home right. You know there aren’t there’s there are not a lot of buyers coming through. True. What you don’t want to do is keep discounting the home. No. It’s not about the price. The reason it’s not moving is because you haven’t found your buyer yet. There aren’t a lot of buyers that are looking for those kind of homes, but when the buyer when when the buyers come, they will recognize that this is one of the few homes that really fulfills their needs. Uh they’re probably they don’t have a whole lot of bargaining power over you because there’s not a lot not a lot of homes like that on the market, right? If you have one of the homes we were talking about before, it’s, you know, a golf course home or whatever, and that one’s not moving and it’s in good shape, it’s showing well, uh, yeah, that would be the price. You might discount the price. If you’ve got a thin market home, that may not be what you need to, uh, what you need to do. You probably just need to wait until your buyer comes along. Same thing on the buyer side. So, if you’re looking to buy one of these homes, That’s right. you need to understand that there are buyers out there. there may be some other buyers like you out there. There’s not a big demand for it, but there’s not a big supply for it. So, when the home comes on the market, you want to move quickly before every everyone else who might be in that same thin market uh also finds it and suddenly you find yourself, especially if it’s priced right. And if we run a comp for you and we tell you this is priced right, yeah, this is good. This is what you’ve been looking for, grab it. grab it. Now, I will say we will we will always comp homes for you. We’ll always do our analysis and give you our opinion on whether the home is well well priced or not. We will always do that. Always a lot easier to do that for homes that are in the middle of the fairway. If it’s a thin market home, a lot of times it’s a lot more squishiness when it comes to the price because you don’t have a lot of comps to use to compare it to. So, it’s it’s a fine dance. It’s a it’s a delicate balance. And um you know, if it’s something that really pulls at your heartstrings and you feel an emotional attachment and we tell you it’s priced right, go for it. And to our sellers, don’t be discouraged. Uh we have a fabulous home right now. Fabulous. It’s a multigenerational home. Yeah. Um it takes a special person, you know, who wants to live. Mom and dad can live downstairs, you can live upstairs. That’s not for everyone. Not everyone has that need. Not everyone. So, it may take a little bit longer, but just be patient. It’s nothing personal about your home. It’s a great home. It’s just the right fit at the right time. And sometimes you got to have somebody ready. They’ve already sold their home. They’re like, “Okay, I got to move, mom. Perfect. Boom. It’s there.” And suddenly, it’s there all of a sudden. And it’ll happen fast. Typically, you’ll get a pretty good price for it even though it’s been on the market a long time. Yeah. So, it’s patience, I think, for all sides. Yeah. Um, and knowing when to pull the trigger, when not, and knowing just to sit, as I always say, stay the course. Stay the course. Stay calm, cool, and collected. That buyer is out there. They’re coming. And for our buyers, we’ll find the home. It just may take, you know, a little bit longer because it’s a thin market home. So, you know, not all these homes, like another example, are built with two master suites. Yeah. Very hard to find. Yeah. Um, not to say that they aren’t out there, but sometimes you have to kind of sit and wait. Yeah. But boy, when it comes up and it’s in good shape, grab it. So, absolutely. Lots to think about. So, that’s what we mean by thin market homes. Yeah. So, pros and cons and ups and downs and allarounds and sometimes it’s a real nailbiter, especially for us because we want to deliver for both sides. Yeah. Um, and if you’re looking to sell your your home where you are now, uh, you need to be aware whether your home is in the thin market where you live. Now, if you live in a home where there are lots of families and lots of big homes, well, that’s not a thin market for you. you live in a market where there are lots of adobe homes, that’s not a thin market. It really depends on on your particular market and the kind of homes that are typical in that market. And each market is different. So, Prescuit’s very unique. Yep. We got a lot of cool Well, I’m not going to say that word. We got a lot of cool houses out there. Some really cool ones. Yeah, absolutely. So, anyway, that’s uh our little tidbit of the day. That’s our tip of the day. If you like tips, the place to go for lots of tips is pickle411.com. That is our free information site. Whether you’re a buyer, seller, or somewhere in between, there’ll be something there waiting for you that will amaze, astound, educate, annoy. I don’t know. It’s going to do a lot of things. I’m sure it annoys a lot of people. We love some of those comments you guys send. Yeah. Sometimes you make me cry. Not really. But hey, just be nice. Mostly about how we overt talk. That’s our only negative comment. Oh, I’ve had I’ve had a couple of things. Oh, maybe so. Maybe so. But that’s okay. I’m tough. I can take it. It’s part of the biz. You got to roll with it. People haters out there. Got to roll with it. Some of them are pretty clever. I’m like, well, I appreciate clever. I appreciate that. Yeah. Even though you’re insulting me. I appreciate appreciate the joke. I do. I do. All right, my friends. If you need any more information, you can find it at Pickle411.com. That’s what I just said. Oh, you did? Yeah, I did. Sorry. It’s hard. There it is. You think this is easy, my friends. It’s not. None of this is scripted. We are just talking out of the air. So, it’s uh it’s a gift and a curse. Yeah, very much so. All right. I hope you’re having a fantastic day and we hope to hear from you soon. Take care. Bye. Bye.
