“What we are looking for is a great deal!”
From the Lee Davies Real Estate Metro Market report for March
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For 24 years I have heard buyers make that statement. Now more than ever, during this real estate downturn, buyers are proclaiming their qualified motivation to buy with the statement, “We are looking for a great deal”.
Today there are a lot of “great deals”: foreclosures, short sales and motivated sellers. Deals are truly abundant but you will rarely find them in an ideal neighborhood or associated with a wonderful home. The fact is the intersection of a great deal and a great home rarely exists, yet buyers seem to be relentless in the search. In the end, most buyers will choose the great home over the great deal and all of that time and effort searching for the intersection of the two is reminiscent of a snipe hunt. It just doesn’t exist.
That being said, we all know of someone who truly found the mythical snipe; an incredible home, in the best neighborhood, for a steal. I am here to tell you, most of those lottery winners won through their hard work in conjunction with working with an aggressive broker. To achieve such greatness, these buyers put in the time and become proactive students of the market. Together or independently, the broker and the buyer actively sifted through the daily inventory, saw every home for sale, and contacted either the owner or the lender on all the homes that looked distressed. They worked hard to eventually earn their good fortune.
If their great acquisition was through a “short sale”, it may have been their second or third attempt to acquire such a property as the bank or banks may have denied their initial proposals, or perhaps another buyer out bid them after months of waiting. But somehow they persevered, found another short sale, and waited patiently month after month, for the bank to finally determine that releasing the property at a price below market would be a better alternative than owning the home and having to re-sell it. Yes, these buyers get incredible steals; they earned it. They worked their tail off, had the patience of a saint, and prayed that no one would bump them out of the way at the 11th hour.
If you have the time, select a great broker, and are willing to put in the effort (while having ice in your veins), you too could be rewarded by landing a “great deal”, and we are ready to make it happen. Just know, the harder you work, the luckier you will be when it comes to finding a deal called your dream home.