Is NOW the right time to buy or sell?
It depends………….I know, the typical noncommittal lawyer answer. I approach selling real estate more like consulting, rather than selling in the true sense of the word. Real Estate is not like buying a new pair of shoes……much more expensive, life changing, complex. I am not going to SELL you a house. Many agents miss that point, and try to fit every customer into the same box. I’m sure my legal background makes me more analytical and consultative at how I approach my customers and their real estate goals.
Every person and situation is different. There are a lot of reasons and aspects that goes into each person’s reason to buy or sell. My job is to analyze your situation in light of the current market conditions and give you the necessary information to make a sound decision on what to do.
I will always give you objective, well thought out advice on how to best realize your real estate dreams. I will never try to push you to buy or sell before we feel it is the right decision for you. I always look beyond this one transaction, and towards the longevity of our relationship and its many transactions.
To illustrate this point, I’ll share a recent success story, which makes me smile from ear to ear. I have known this customer and her family for many years, and I just adore them. Like me, I feel she was a late bloomer who had to wait to find the love of her life. Good things come to those who wait, right?
She owns a property she had purchased a long time ago for a fair price, but it is not her ideal property. She lived in this property with an ex who did not help the situation one bit. She is very fiscally responsible, and takes pride in her home, but this ex was not on that same page.
After that time period, she worked diligently to pay off debt, improve credit, and save money. She then connected with her true love and they made the decision to marry soon after that, because when you know, you just know! Her wonderful husband comes with a little financial baggage, but is just a good human with similar values.
We started talking about making a move about three years ago when the market had recovered, and looked like it would continue to do so. At that time, we could sell the property, and make a little profit, but it was too soon to really do it right. We both felt that with the new relationship, still working on paying down debt, and settling into married life……..the timing was not right. My analysis of the market told me that it would continue to improve.
This couple worked hard to make their home nice while putting themselves into a great financial position. We looked at the market again, just over a year ago, and it was still too soon. They could qualify for a loan, but not for a home they’d love, and we didn’t want to settle this time. Planning and paying for a wedding is also pretty stressful.
Last Fall we again looked at the market and the potential profit on the current home looked really good………enough for at least a 20% down payment AND money left over for improvements and bills. It was finally time. The lender gave us a great approval price and we looked for a home.
Our awesome couple worked their butts off to prepare the home for the market, while we looked for homes they would like. I had given them a pretty sizable “to do” list on their current home, but they did everything I asked of them.
We found a house, but theirs was not on the market yet. We tendered an offer with a nice letter, but were rejected. We were frustrated, but it is understandable for a seller to not want to accept a contingent offer. We were disappointed, but we know things happen for a reason.
We found an even better house and we were in love with it. I had a long talk with the listing agent about the situation, because the home had been on the market for a while, a surprise to me. They had started too high and had not done proper staging and repairs at the initial listing. She told me they were motivated and may consider a strong contingent offer.
We wrote a nice, clean conventional offer contingent upon the sale of their home, and included a nice personal letter. We were up against another offer, but they picked our offer! I had submitted photos of the current home to show them how nice it is, along with my pricing strategy.
My customer worked tirelessly some long days and nights to have their home ready for the market by the next weekend. The place looked great! We had five showings and an offer the first day. We reached an agreement, and were under contract on both properties!
My friends’ dreams were coming true. As I systematically and strategically move both transactions towards the closing table, we are delighted as each step is completed. Right now we are working on repair negotiations and appraisals on both transactions, and I feel both will work out.
The buyer for our listing is a first time home buyer, single mom who is so excited about her new home!
I could not be happier that two sweet families will be closing and realizing their dreams in just a few short weeks. This is why I love real estate. It is not about trying to hurry up and chase a sale; it is about making dreams come true. I can’t stop smiling.