Our profession often and amazingly throws us into the complex and often arbitrary acts of the world and of people's behavior in it.
I want to share a recent event in my practice because I really need to just get it off my chest and also to ponder publicly how various coincidences and events conspire to happen in the world in general and the world of Real Estate.
My clients whom I will call The Elliott's, in early December, made a contingent offer on a lovely Albuquerque home that made their hearts sing -- a little more that what they needed, yet they fell in love with the gardens and comforable floor plan of what they hoped and dreamed would be their next home.
The sellers of the lovely home, whom I will call The Noodles, with the advice of their realtor chose not to accept the contingent offer. The listing broker, said the reasoning was The Elliott's home was listed for way more than anyone would buy it for in the area of town it was in. Yeah, right!
The Elliott's proceeded to list their home with Pamela Heater Realty Group and planned to get it sold so they could buy the Noodle's home -- the home of their dreams. And, lo and behold....after about 7 weeks on the market, The Elliott's gem of a home sold for cash for a price just a few thousand under the list price.
The wife, Grace, had been dreaming about the house they were going to purchase. She had lovingly placed their furniture, done minor mental updates, and previewed the photos many times on the internet. She had lived in their smaller house for 17 years and this was major excitement and joy in their lives. With 2 teenaged boys the space would give them ease and luxury in living that they needed. The home was also close to many friends.
I quickly made a call to the listing broker to find out if there were any interested buyers lurking around. My folks were ready to rock and roll!! We had a cash deal on their home -- no appraisal, that was just inked hours ago.
My client's dream home had been on the market for over 3 months, with no good offers except our contingent offer in mid December. The listing agent did convey to me that just over the last few days she had a buyer looking very seriously at the home. It was her buyer client.
I don't know how the law works in other states, yet in Albuquerque and New Mexico, the listing assoc broker can represent both parties to a sale. So, here we are trying to win a sale over a listing agent with a buyer she is representing. I don't even have to explain the situation -- you know how it went down.
We wrote the best offer we could -- at list price, closing within 30 days , mimimal repairs. Yet, the inside knowlege conspired against us. There was not even an Invitation to Offer (which is a multiple counter) delivered. The listing broker told me she offered one and the seller declined.
So, my wonderment, my disbelief is how it happened the very day that my clients sold their home, a home that had been on the market for over 100 days, was simultaneously discovered by another buyer and bought.
I still shake my head with disbelief how these two events could occur concurrently in a housing market that is steady, but not thriving. Two offers on a home that had been on the market for over 3 months and occuring on the very day an accepted offer was signed on The Elliott's home!
We all do say, "there is a reason". Yet, my client, Grace, honestly stated, "I don't want to hear that, I want to grieve."
So they bravely jump back in the saddle again seeking a place to call home and letting go of a home they have lived in for 17 years knowing not where they will end up.
Sometimes it hurts.
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