Sun Valley residents say: “Make it Rain!”
With the California real estate gold rush on Ketchum properties still in full swing, an entrepreneurial band of local residents have decided to test just how crazy the housing market is. Introducing www.obsceneoffersonly.com your one stop shop for the hottest properties in the WRV that you won’t find on the MLS.
Obscene Offers Only was the brainchild of West Ketchum resident, Monet Grabber who slowly saw her street get bought up this summer from California and Washington transplants. “It’s been completely insane” Monet said. “I’d be out in my front yard pulling weeds and random strangers would leap out of the bushes and say, hey is your house for sale, how much for your house? We’ve got cash, name your price”.
At the beginning, Monet was incensed with how inappropriate this behavior was, but once she saw her neighboring properties getting snapped up for ridiculous amounts of money, she started to see the situation as an opportunity.
“I bought my house in 1995 for $97K and if someone wants to pay $3.5m for an old 1965 A-Frame, have at it” Monet explains. It’s got 1 bedroom, a half bath, a powerline that goes through the yard, a radon reading that is off the charts, no garage (which seems to be all the rage at the moment) and it’s on a ¼ lot. Doesn’t seem to deter anyone” she said. “I had 32 full offers the first day and I’m now pitting them all against each other to get the highest price.”
Once she fully realized the level of absurdity in the market, Monet decided to help other locals out that might be interested in doing the same thing with their house.
“The beauty of the for sale by owner model in this kind of market is that the homeowner is totally in the driving seat” Monet explains. “The best part is you can schedule viewings whenever you feel like it. The other night I fell out of Whiskey’s around 2am and I accidently drunk dialed someone who wanted to see my house. I told him if he picked me up in town and took my ass home, I’d show it to him there and then – he showed up in less than 5 minutes”.
Monet set up Obscene Offers Only to allow anyone interested in selling their house to be able to set up their ad in minutes with no fee. Monet is on hand to help you through the process.
Monet developed a proprietary algorithm on the Obscene Offers Only website that allows homeowners to maximize offers on their properties. “It’s just supply and demand economics really” Monet explains. “When you get a huge amount of traffic on your ad, that means you can probably get a higher price.
At a certain click through rate the algorithm will readjust the price in real time to reflect demand. It’s no different to taxis raising their fares when it’s raining.”
Cash Offers Only:
Monet also suggests that homeowners ask for all cash offers and not in the conventional sense either. She literally means ask for the funds in hard cash. Monet explains that a lot of Obscene Offers Only customers are headed straight for Mexico to live once they close on their property and cash is just more convenient.
Interestingly Monet is currently setting up www.obsceneoffersonly.mx on the Baja peninsula to offer Baja natives a way to sell their properties to Ketchum transplants. Monet sees the irony and jokes, “It’s just the circle of life.”