First time homebuyers present a unique set of needs and challenges. Often they want the perfect house for the perfect price (don't we all?). They can be prone to "Buyer's Remorse" even before they execute a contract. A good initial consultation prior to even taking a client out can help set expectations and educate the client, but sometimes its just not enough.
I've been working with a family who are first time homebuyers and they are a really neat couple. They also do their homework as they evaluate potential properties, which I strongly encourage. We found what I thought was the perfect home...it met their criteria of being newer, had the space they wanted to accomodate an office, priced in their budget and in exceptional condition. Plus it was NOT a short sale.
We looked at the home several times, the last time spent over 45 minutes in the home. Sellers were helpful and pointed out some of great features of the home. I provided the buyers with the recent comparable sales and made the request for the Seller's Real Property Disclosure. Being careful first time homebuyers, they wanted to discuss the purchase together in more detail, even sent their kids to the YMCA for a sleepover so they could chat without interruption. This was on Friday.
Then I get a message from the buyer...husband wants to buy in a "neighborhood that's too good to fail" and they told me the specific neighborhood. Now the home they were looking at was priced to the market and possibly had some room to negotiate. The challenge we have is the neighborhood they want is priced $20,000 or more above the price threshold they are willing to spend. I've essentially been given the proverbial needle in the haystack to find.
So my question is, what do you say to someone who wants to buy in a "neighborhood that's too good to fail?". I would love to hear your thoughts.
Have a great day!
Julia
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