PHOENIX (3TV/CBS 5) — Just how ridiculous is the real estate market right now across the Valley? A local realtor has garnered thousands of views on her TikTok, revealing some of the funny stories she’s facing while in the trenches.
Real estate agent Caitlin McKeague’s blunt and exhausted demeanor about Phoenix’s real estate market has gotten her thousands of views across social media. She shares some of the ridiculous scenarios she is seeing while trying to help her clients, homebuyers, navigate the market.
Arizona’s Family previously obtained data from the Maricopa County Assessor’s Office that shows Wall Street investors and private equity firms have bought thousands of homes across the Valley and turned them into rental properties. One company alone owns more than 8,500 rental homes in the Phoenix area. Real estate experts say that’s a big reason the working and middle-class are getting priced out of the market. So what are some of the most ridiculous situations she’s seeing?
“I get a call back from an offer that we made where we talked to the listing agent about how high it needed to be, and we thought it was going to be a slam dunk, and you know what? We didn’t get it, you know why? They selected a lower offer,” said McKeague. “We ended up finding out that the seller settled on the lower offer because those sellers had actually met those buyers and felt compelled to sell the house to them.” She recently says a house going for $500,000 had 48 offers.
McKeague hopes her videos will help homebuyers set realistic expectations so they don’t get their hearts broken in this market. You can follow McKeague on her TikTok: “YourPHXRealEstateAgent.”
