Losing Your Dream Home Really Stinks!

By
Real Estate Agent with Cedar Rapids/Iowa City, IA KW Legacy Group S44645
https://activerain.com/droplet/4b7L

Losing Your Dream Home Really Stinks!

We have all been there.  

You look at dozens of homes, and finally, you find it..."the one"...that one house that checks every box on your list. Sometimes it is at the top of the price range.  And it is usually the house that just came on the market.

No matter how hard the buyer's agent tries, our price recommendation falls flat. The buyer wants to test the seller and see how firm they are on the price.  It doesn't matter that it has been on the market for less than a week and we saw the tell tale pile of cards on the kitchen counter.  We knew that it was the cleanest and nicest home on the market in their price range. And other buyers would think so too.

But some buyers need to lose one dream home to learn.   Sometimes they are listening to parents or friends that are giving them the advice that it is a "buyer's market".  That is all relative to the local market and even the price range-you cannot rely on what the national media is saying.  You make an offer that you want to make only to find that another buyer saw the value of the home and offered better price or terms.  The seller decided to accept another offer and your offer gets the rejection.

skunk

And it stinks, it does.  But it only takes one. No one likes the feeling of losing.  And the next dream home that is "the one" is even better and the buyer listens to the market data and makes the best offer that they can the first time. The first loss prepared you for this next offer.  You know more this time.

Great buyer agents will provide sold comparables to help guide you to the market price.  You can offer less than the seller is offering, but you need to have the facts to support your offer.  And it doesn't hurt to keep the rest of your terms reasonable.  After all, you cannot expect to get the best price, $4000 in closing costs, and all the appliances.  

If you are considering buying a home in 2014, call me for a free home buyer consultation where I will show you how I represent you in the purchase of a home in the Cedar Rapids area.

Keep smiling!

Karen

 

Posted by

 

Karen Feltman, REALTOR®, ABR, AHS, CHMS,                                                                      CNE,CRS, e-Pro, green, GRI, SRES, TRC

Keller Williams Legacy Group

4850 Armar Drive SE Ste B

Cedar Rapids, Iowa 52403

Email: karenfeltman@gmail.com

Mobile  319-521-0701

www.KarenFeltman.com

Licensed in the State of Iowa

© 2010-2018 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist 

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Topic:
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Iowa Linn County Cedar Rapids
Groups:
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Tags:
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Rainmaker
350,491
ReadySetLoan Condo Approval Team
ReadySetLoan Condo Team LLC - South Windsor, CT
The FHA/VA Condo Project Approval Specialists

Losing "the one" is a very painful experience. It's a tough spot for buyers to be in.  They try to get a deal and lose out completely.  They pay full price and get harangued by their friends and family who aren't even in the real estate business!  The seller takes the first offer and they contemplate that they could have done better.  The true test is the emotional value in the home.  If the home is perfect, price doesn't matter.

Jan 28, 2014 11:11 PM #1
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Hi Eric!  Well said.  If they are emotionally invested in the home, they will pay whatever it takes to get it.  Thank you for sharing your thoughts.

Jan 28, 2014 11:33 PM #2
Ambassador
876,846
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Karen, sometimes "losing the one" is the best thing that can happen to buyers. It makes them understand that they, and all their advisors, don't know everything. They tend to listen to you more the next time.

Jan 29, 2014 12:22 AM #3
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Hi Connie!  You are right.  Their "advisors" claim to know better than I do.  That quickly changes when they lose the first one. Live and learn.  Thank you for reading.

Jan 29, 2014 01:24 AM #4
Rainmaker
283,694
Kathryn Gorham
Green Key Realty - Emerald Isle, NC
Emerald Isle NC Crystal Coast

Great post!

Jan 29, 2014 03:23 AM #5
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Hi Kathryn!  Thank you for reading.

Jan 29, 2014 07:45 AM #6
Rainmaker
1,675,376
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Karen, You are right about family and friends telling them it's a buyers market.  You can ask for anything nd thery will just hand it all over to you. Sellers assistance, sure, no problem.

Now everyone is sying "What Happened" they sold the home to someone else. I was only 30,000 under asking price and asked for everything I could think of.  In a way, I think they all should learn the hrd way a few times, maybe they will listen to us instead of all their friends and relatives.

Jan 29, 2014 11:15 AM #7
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Hi Larry!  You are absolutely right.  Taking advice from those that have not bought a home in the past 10 years since the economic crisis, is not a wise decision.  The media plays out a completely different picture that never applied here in my market.  It is difficult for people that don't work in this business every day to understand why our market isn't Las Vegas or Miami.  Thank you for reading.

Jan 29, 2014 12:00 PM #8
Rainmaker
2,791,010
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Karen, This is spot on. Buyers need to learn ... sometimes it is done the hard way. Everyone wants a great deal and we want to get it for them, if we can. Sometimes the great deal is paying more the list price and having the offer accepted.

Jan 30, 2014 10:33 AM #9
Rainmaker
4,082,206
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Karen, this Dream Home will be the home buyers will always think of too, and wish they would have offered what it took to secure it!

Jan 30, 2014 10:13 PM #10
Rainmaker
2,256,611
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

good morning Karen. It is never easy to lose out on that special home that someone really wants. If it happens, it probably won't happen a second time.

Make it a great weekend!

Jan 31, 2014 10:26 PM #11
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Hi Kathleen! Many buyers learn the hard way.  And it depends on the market and how many other great options are out there.  The conditions are different for every buyer.  If they are motivated by a time frame, they are usually less willing to lose out on the one that they want.  Thank you for reading.

Hi Joan!  I am very honest with my buyers.  When they write an offer, I tell them that they need to think about their options if this does not work out.  Because it would be unfair to expect to find another home just like it for the same price later on.  Thank you for reading.

Hi Joe!  You are right, it will only happen once.  Thank you for reading.

Feb 03, 2014 12:40 AM #12
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Karen Feltman

Relocation Specialist in Cedar Rapids, Iowa
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