Deal or No Deal…
September 11th, 2009 Categories: For Buyers
It isn’t just a TV show with Howie Mandel and a bunch of hotties holding briefcases. It is daily life in real estate…
And one of the issues that buyers face is the Deal or No Deal mindset. It boils down to this…
Do you want a deal?
Many buyers see the news or listen to reports about how much of a buyer’s market we are in. They hear radio ads about being able to buy wonderful homes in great neighborhoods for “pennies on the dollar”… and one goes so far as to say “and she bought this beautiful home for under $20,000.” But…
- One of my buyers found three homes that were already under contract…
- Another home had an offer come in before we could write an offer…
- And there is one that has been outbid on homes several times…
These are regualr occurances… especially in entry level homes. In fact, some move-up neighborhoods are seeing the same thing… Basically, if it is a great deal, chances are that others will find it, too.
That isn’t to say there aren’t deals. We have found quite a few. But they are deals for a reason. They need work, they aren’t in the best locations or they may not be closeable (spelled s-h-o-r-t-s-a-l-e)… It might be something as simple as seriously poor design choices… sometimes even correctable.
What you aren’t likely to find is a beautiful home in a prime neighborhood that needs nothing to move in and is ready to close… half off. And if you do, there will be a valet to handle the parking because there will be a parade of buyers and agents getting ready to drop an offer (we saw one on the market four days with 13 offers… my buyer bid over list and didn’t get a counter).
Do you want a house to live in?
There are a LOT of homes on the market. Even in my niches, there are a pretty good number of choices. A buyer can want a home with a 4 car garage under $200,000 in Gwinnett County and have several choices… and these aren’t shacks, either. Some are priced pretty competitively… Maybe they are steal deals, but they are priced well.
And if you want to get a house in a good neighborhood, convenient to places you want to be near… and ready to go… you might have to spend a little more than the if you are willing to make a LOT of compomises. But, if you are buying a house to live in… to make part of your life… maybe you should get out of the “killer deal mode” and think about getting a home at a good price, with excellent financing options.
I want you to get the best deal possible!
But, if you want to actually buy a house, part of the equation is buying. What I don’t want is for you to lose the home that you really want because you wanted a little better deal. It is another thing if it just isn’t affordable… I don’t want you to buy above your comfort range. It is a tight rope that needs to be walked.
But I have heard too many people (clients and friends or others) that have talked about “the one that got away”… usually because someone else beat them out by a few hundred dollars… I don’t want that to happen to my clients… unless they are ready it.
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