Nothing is more expensive than a missed opportunity

Nothing is more expensive than a missed opportunity - H. Jackson Brown 

I thought this quote was really appropriate based on a telephone conversation I just got done having.   I was chatting with one of my favorite Realtors with regard to a few folks we're working with who have offers on short sales.  We're in a "wait and see" on those buyers until we hear from the current lien holders.

We share another client...for this post we'll call him "Bob".  I asked the agent what was going on with "Bob" and his property search efforts.  Bob lives a few hours north but has spent the last two years looking for property here in the Medford area, as eventually he wants to relocate back here and retire (he's actually of retirement age currently).  His wife (who's much younger) also attends school and he really wants her to complete her education down here.  With those emotional goals you would think that "Bob" would be more anxious to get locked into a property. 

After I asked the agent what was going on with him, the agent said "oh, he's never going to do anything...he's a lose cannon and is far to analytical".   I've worked with "Bob" in the past and can certainly testify to his analytical spirit.  Not that doing research isn't a good thing, but Bob spends an inordinate amount of time "studying" the current housing market and coming up with his own conclusions as to when the market will hit "rock bottom".  He doesn't want to make a move on a property until that bottom hits.  He insists that prices are going to continue to fall for another three years. While it certainly is possible prices may continue to decline, we have no idea what interest rates are going to do.  It could be that the future "killer deal" he got on a home, may end up costing him more in the long run.

We're all creatures of habit and we all like getting a good deal.  Heck, it's bragging rights for some folks.  But really, how the heck does Bob know that the market is going to continue in a downward trend for three more years?  And moreover, who's to say what sort of inventory is going to exist in our market in three years.  The agent showed Bob over 100 homes last summer when Bob and his wife came down here to visit and house hunt.  Nothing was acceptable to him.  While only Bob and his bride can determine the best house for their future, it just seems to me that the current opportunities he's missing are going to cost him more in the future.