Verbose by nature, I frequently struggle to keep these messages down to about 400 words in the certain knowledge that if I overwrite them, no one will read them.
But sometimes I just don’t have 400 words to offer. That said, I’m neverwithout observations. So here are a few quick ones – snapshots from the road as we all travel this crazy market together.
Location, Location, Location
These days some buyers are finding themselves priced out of neighborhoods they want to live in. But, if a specific neighborhood isn’t absolutely critical, it pays to look for the same house in a different area. Looking at recent listings and sales (some of which have been my own) I find that a comparable 1500 sf, 1960s ranch can be up to 15% less expensive in Charlotte Park or Bellevue than in Crieve Hall. All three areas are nice and well located – but you get more house for your money in Charlotte Park or Bellevue than in Crieve Hall.
Looking for a plus-sized ranch or a mid-century modern on a big lot? Forget about Green Hills and check out Bordeaux or Madison. Looking for a new or new-ish tall-skinny? Try Charlotte Park instead of the Nations.
Take a Breather
I’m a crossword addict. I work the Sunday New York Times and LA Times puzzles every week, and always have a spare on hand if I finish early. But sometimes I get stuck. When that happens I put the puzzle down – usually overnight – and when I get back to it, the answers just seem to glide into place. Same thing with real estate shopping. It gets stressy making offer after offer and getting turned down! If that happens, it’s best to chill out for a week, or two, and then go back to it. It’s amazing what seems to magically turn up after a little down time.
Highest and Best – not always synonymous
This applies to buyers and sellers both. More dollars doesn’t always mean a better offer. Recently, I’ve advised seller clients to reject offers that were appraisal-contingent but were so high, there was no chance the house would appraise. I’ve gotten deals for buyers at fewer dollars than the competition because I read the listing remarks or called the listing agent for info, and then wrote an offer that included things the sellers wanted. Best beats highest every time!
And here we are. The words above clock-in at 397. Time to quit and have a cocktail!