Don’t cry because it’s over. Smile because it happened.
Today’s HOT LIST Link ( click the pretty blue link below to see today’s picks ):
ZILLOW TALK – Announcement: We published an Article regarding the “Zillow Situation” which has been making the news rounds recently. Zillow is a billion-dollar media company, thus the media attention given them was understated, subtly devoid of any facts or figures, with articles rarely longer than a page. What’s about to transpire with Zillow, and their wingmen Offerpad and Opendoor, will impact our housing market. If you’d like to learn about that iceberg’s lower seven-eighths, please take a gander:
LINK: https://stanleyfosha.com/zillow-talk/
now onto the daily daring do…
$6,300,000
7836 N INVERGORDON PL, Paradise Valley, AZ
“Understated elegance & subtle modernity seamlessly mix”
That‘s because they’re synonyms! This is like mixing two flavors of LaCroix and granting it a cocktail name. “Understated” is an ancient real estate term which means “50 shades of grey”, all of which are present and accounted for at this address. This non-volatile blend of similar fog smudges sets the perfect trap for capturing the color laden post card views littering the windows. It’s as if Mummy Mountain was positioned in frame after this house was built. The subtle Grecian Formula tones of the interior softly scream style while your attention is yanked outside to magnificence.
Understated subtlety. How exciting! If George Clooney was a house, this would be it.
$479,900
9322 W PACEY RD, Phoenix, AZ
“Photos coming soon.”
This is a Zillow owned home. Around a dozen Zillow owned listings hit the market this weekend, but this was the ONE listing we felt had a good price. Zillow paid $477,000 for this house, which today debuts with a $479,900 list price. This means that after closing costs Zillow is voluntarily losing money here. Does this explain why Zillow can no longer afford digital pictures?
Check out these one pic wonders: Click to view listing(s)
13 New Listings. 13 Photos. When your stock price plunges from $208 to $66, apparently digital film becomes a budget cut. Are they rinsing off paper plates over at Zillow HQ? On at least one occasion the driver exited the vehicle to take the lone picture. Hope they weren’t expecting a bonus for the effort. It’s been obvious all year that Zillow forgot the P rule: Proper prior planning prevents pitiful poor performance. Now they’re going on an adventure, like rafting Niagara, and they will be lucky to survive. Did we mention we wrote an article about this?
LINK: https://stanleyfosha.com/zillow-talk/
There is a fifth dimension beyond that which is known to real estate. It is a dimension as vast as space and timeless as infinity. It is the middle ground between an algorithmic Zestimation and a shallow grave, between drunken spending spree and bloated inventory, and it lies between the pit of investor’s fears and the understated subtlety of their knowledge. This is the dimension of impending insolvency. It is an area we call the Zillow Zone.
Photos coming soon!
$1,995,000
38205 N SOMBRERO RD, Carefree, AZ
“4.0 acre Al Beadle designed home sited on the ridge top”
If at first you don’t succeed, don’t try skydiving. This property joins the Hot List as a New Listing for the third time this year! Triple Play! This is the third time the same agent has re-entered the same property’s data into the same MLS system and hoisted the New Listing flag. You might ask why.
You might not. It’s Monday. You’re not even awake yet.
It’s an Al Beadle home with 360 degrees of views. Cha ching! GET IN THE BOAT! We love this house. However, this third time’s a charm act is curious. Launch the Investigation! We don’t have the wine or will to go full Quincy MD autopsy here, but we do spy a notable difference in the text. In previous incarnations, at this same price tag, this property was advertised as having 7.26 acres of hillside lot. Today that size shrunk to 4 acres. Did they wash it in hot?
Answer to the Riddle: The adjoining lot that was previously included, is now available for purchase separately. Yet this list price is unchanged. There’s some understated subtlety going on here! Shhh.
Barnaby Jones Epilogue:
You can fool too many of the people too much of the time. Deception’s only saving grace is that those who employ it always, always, always overdo it. We live in a world of swindlers and their foils. Some of the scams are so obvious only an intellectual would fall for them. The further our society drifts from the truth, the more it will hate anyone speaking it. You feel it. You see it around you. The future can appear quite dark when imagining the continuation of this current trend. You can’t have “trend” without “end”. Anyone who challenges the prevailing winds, questions where this path might lead, finds himself silenced with surprising effectiveness.
In 2009 I wrote an article explaining in detail how the United States Government’s three headed monster (HUD, Fannie Mae, Freddie Mac) were intentionally crashing the housing market. I received a bogus $315,000 tax bill from the IRS that year. It took over a decade to prove that bill was illegitimate. In the interim, my muzzle was tightly fit.
It is with great trepidation that anyone dare point to our Real Estate Tech Gods (Zillow, Opendoor, and Offerpad) and mention the unfashionable opinion that they are bad for the Real Estate market. It is my fervent belief that those three beasts have done a gross disservice to our 2021 Real Estate market by swallowing our available inventory, while raising prices with the diminished remainder they offered for sale. This method of jacking up prices by hiding properties out of sight worked for longer than it should have. Zillow’s current economic situation is the canary in the coal mine. All three Tech Platforms treated 2021’s real estate rise as a never ending story. If these Digital dominoes fall, we’ll have a healthier housing market ahead on the horizon without them.
Deception lies, and lies, until it lies in a grave. Hope lies ahead. There’s good stuff coming our way folks!
It’s happening!
…did I mention I wrote an article about it?
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