With all of the online tools available today, many new buyers feel that they have a grasp of the market and don’t need the help of an experienced Realtor to assist in navigating the market.
The other night I was talking with a client who was seriously considering submitting an offer on a property in North Oakland. The home checked off nearly all of the boxes on her needs list and we were knee-deep in analyzing the property disclosures. As her advisor, I pointed out the flaws while also sharing with her the reasons I liked the place.
The house had an open floor plan and some thoughtful improvements, while maintaining the essence of its 1908 construction. The downside was that some of the finishes were inexpensive and already showing deterioration; additionally, it could use a bit more storage. We both commented on how we couldn't believe that the sellers didn't deep clean or paint the property in preparation of the sale. (Sellers, yes it is just paint and carpet cleaning but this conveys a lack of care and pride to buyers).
Just three weeks prior, this client wrote an offer on a home that she adored and made her giddy with excitement. She had put in a killer offer on the place but didn't prevail. The heartbreak of not winning was real and the disappointment was tangible.
As we were talking last night, my client spoke about the house she didn’t win in comparison to the house that she was potentially writing on today. I explained that the property that she lost on had sold for more than $100,000 over her budget and was potentially worth $400,000 more than the current house in question. It was indeed a dreamy property that received more than 20 offers. I gently said that although we still covet the house lost (I covet it too) it was not attainable. I suggest that we focus on properties that are attainable.
Think of it like this, there is a handsome man, who is smart and funny. He is flirting with you and gets your heart racing. The only catch is, he is married. He is a big tease and you can't have him. Let's put him back on the shelf and look at real candidates; ones who are genuine, may not be as sexy at first glance, but with a wardrobe makeover could be even better.
Losing out on properties can be an emotional roller coaster. It taps into emotions that often surprise us. It can be a combination of real disappointment coupled with anger. Anger that you work very hard to be able to buy a home and how dare this real estate marketplace be so expensive! Don’t get caught up in the tease. Focus on real candidates that are fulfilling, attainable and will give you true joy. Let the flirts be a fantasy and inspiration on your Pinterest board. Buying a home is a process requiring true focus.
My job and experience is to help you streamline your search. I help organize (and re-organize) your shopping list, explain the nuances of the market and provide inspiration on how you can make your ordinary home magical for you. I know that house hunting requires real support, if you are house hunting right now, hang in there.