Real Estate Trends
Jun 26, 2017 02:12PM
By Don and Norma Flaskerud
Imagine you finally found the house of your dreams. It has everything you hoped for in a home, from the right countertops to the right landscaping. You spend hours envisioning the parties you'll throw in the backyard. But fate intervenes. For some unfortunate reason – most likely a fierce bidding war -- your offer doesn’t get accepted. How do you recover? Here are some tips.
Get Right Back in the Saddle
If you must have a pity party, do it quickly. Perhaps a quick toast to what might have been. Then, dive straight back into search mode. In today's market, things move fast. You don't want to miss an even better home while you're mooning over photos of the lost listing.
Don't Dwell on One Dwelling
Delete the listing of the home that got away. Erase the pictures you took with your phone when you toured. Do your best not to compare new homes to the one you lost. There are lots of homes with lots of new possibilities. Keep an open mind.
Don't let your frustration push you into a hurried purchase of the next available property simply to get the process over with. Stay true to your shopping list of features you need and want.
Re-evaluate Your Budget.
Take another look at what you can spend and what the homes you're looking at have been selling for. Do you need to add a cushion to be more competitive when making an offer? Or do you need to start looking at a less expensive neighborhood to find a home that has everything you want?
Talk to Your Agent.
Your RE/MAX agent will be full of advice for surviving the lows – and highs – of your real estate journey. In our experience, our buyers are usually happier with the house they end up with than the one(s) they missed out on. As the saying goes, everything happens for a reason!
The good news is if you or a friend are a buyer who has lost out in bidding wars, there are rumblings the market is leveling and slowing to a more normal pace. In July, the market slows down; many are busy with 4th of July festivities, weddings and vacations. It’s a great time to get back in the market as a buyer if you’ve taken yourself out. It will stay calmer until after Labor Day; so many are on vacation! Keep that open mind while watching for new listings. We would be happy to help you find the home of your dreams. As Realtors who represent an abundance of home sellers, we know how to write an offer that will get accepted. Call us now at 925-338-2980 or email us at [email protected].
We want to thank all who donated to the Pleasant Hill fireworks this year! We met our goal of reaching $5000 in donations which, when matched by us, increases what is spent by $10,000! The fireworks will be spectacular! See you there.