The word on the street is that Hollywood has hit Scottsdale real estate. So in the same way that Hollywood gets these stars prepared for the red carpet or the masses for the red carpet to appeal to the most people they can.
Wait, who in Hollywood are you referring to? I really don’t understand.
Uh, lets take Tom Hanks for example.
Oh! Let’s take Nicole Kidman for example.
Ash, how does this translate to the Scottsdale real estate market?
That’s a great question. Let’s take a look at a couple examples.
Two kitchens that were the exact same kitchen. One was in it’s original state and mind you it was in really good condition.
It had potential.
Hardly used over the past 12 years because they were in and out of the state versus a kitchen that was completely redone, updated.
Let’s take a look at a master bathroom example.
In it’s original form, back in the 90’s they liked carpet on the floor. It was in, it was trendy.
And now we have redone bath, redone shower, new sinks.
So let’s take a little different approach to this analogy and let’s talk real numbers in our market place right now, but instead of Tom Hanks, let’s use…
Peppermint mocha. And then let’s bring in the old Tom Hanks, but in this case the non-dairy creamer.
Upgraded, not upgraded. Looks like to me that majority of the homes are not upgraded, Jeff.
Right, so the buyers say “I don’t want the non-dairy creamer, I want the peppermint mocha.”
It’s a seller’s market over here.
And a buyers market over here.
What we are saying is when your house is updated you as the seller have the advantage.
When your house is not update, the buyer has the advantage.
And I don’t think they want that.
Like 240 million people go see this Tom Hanks.
Like 7,000 people each month choose this creamer over these creamers.
Right, but there’s more of those.
Right, yeah there’s 18,000 of these on the market, however 6 to 7,000 chose this one and maybe a 1,000 go “I would like to make it my own,” but 6,000 say “I want the peppermint mocha.”
You know, I think I do too. See ya!