Taking Advantage Or Being Taken Advantage

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Are you taking advantage of this market, or is this market taking advantage of you? 

Buying and selling are stressful no matter when you contemplate making a move. Jumping into real estate is not something to rush into because “everyone “ says it’s either a buyer's or seller's market. If your home sells immediately for your price, it’s a seller's market. If you are getting outbid on numerous properties, it’s a buyers market. 

One buyer asked me if they should buy a home even though they didn’t love it or wait for the right one. What if he made an offer on a home, and then the perfect one became available?

Anyone knowing me would know the answer.

Do not settle!

Find the home you love that’s right for your needs and will allow you to make memories.  

Sell your home when you and the house are both ready.

Is this the right time for you?

Are you ready to move

In this market, are you taking advantage, or are you being taken advantage of?

Which one?

Thinking of buying or selling your home

Call Margaret Rome

Margaret Rome

 

 

Comments (29)

Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Margaret,
The only exception I can think of to your philosophy of "don't settle" is if the buyer plans to live in the home short term then turn it into a rental investment. 

Apr 11, 2021 10:04 AM
Margaret Rome Baltimore 410-530-2400

 You don't have to be in love with a home that will be temporary or an investment. That's buying for a different reason. Thanks for stopping by Carol.

Apr 13, 2021 09:44 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret these days I feel like I am being more abused by this market, than I am taking advantage of it  ☺️

Apr 11, 2021 12:16 PM
Margaret Rome Baltimore 410-530-2400

George, You, many other lenders, and RE professionals are feeling somewhat abused!

Apr 13, 2021 09:45 PM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Margaret it's even more important to 'wait for the right one' then just jumping in on any home.  I've been seeing listings pop back on the market more often this past few months.  I do think buyers get buyers remorse and back out. Interesting stats right now.  I've not seen this hardly ever before.

Apr 11, 2021 03:39 PM
Margaret Rome Baltimore 410-530-2400

Anna,


Buyer's remorse is a huge disappointment, and we see homes come back on the market for this reason.  There are some people do not have the patience to wait.

Apr 13, 2021 09:49 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Margaret- love your words. I remember that Lenn Harley would say something similar when asked when the right time to buy a house was. You're investing a lot of money just to settle. 

Apr 11, 2021 04:38 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kathy, What a great line from Lenn...

"You're investing a lot of money just to settle."

Apr 13, 2021 09:50 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Margaret 

Buying a home is a marriage in your future. You do not get married to someone because you are settling you wait for the right person - It is the same with a house it is a home and waiting for you - You will know you will get that loving feeling 

Apr 17, 2021 02:23 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Hannah, You have just inspired my next post and it should be a fun one.  Thank you!

Apr 17, 2021 02:45 PM
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

Margaret, You're so right about not settling.  It's like all decisions, you either feel it or the nagging something in the pit of the stomach doesn't go away. That nagging doubt looms bigger over time.  Those who have that "all in" feeling live in the green light zone, all speed ahead, no second guessing.  It's the only way to live - no fear, no doubt.

Apr 17, 2021 06:19 PM
Margaret Rome Baltimore 410-530-2400

Kris, When making a decision, you said it right:


"...Those who have that "all in" feeling live in the green light zone, all speed ahead, no second-guessing. 

Apr 18, 2021 08:58 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Margaret:

 

Great advice here! Buyers, and sellers, should not react or get caught up in all the hype about the housing market without truly understanding the market AND their personal financial sitation, and making a sound business decision, not one based on emotion. Buying or selling a home is a huge decision, and not one to be taken lightly.

 

Jeff

Apr 17, 2021 08:57 PM
Margaret Rome Baltimore 410-530-2400

So very true, Jeff :


 'Buying or selling a home is a huge decision and not one to be taken lightly.'

Apr 18, 2021 08:59 PM
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Well said Margaret. I always tell clients not to settle. Even in this market, houses are like the bus there is another one coming along every 15 minutes

Apr 17, 2021 09:49 PM
Margaret Rome Baltimore 410-530-2400

Good advice, Tom. There will always be another bus!

Apr 18, 2021 09:00 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometime you have to play the game if the points and that's all there is to it.

Apr 17, 2021 10:27 PM
AndreaBFerreira CRS - SRS - CLHMS
Keyes Co. - Davie, FL
Miami Dade, Broward and Palm Beach County in FL

That is right, their biggest investment in life and setting for less?? Noooo, big no no. I have two sellers waiting to find their dream home then they will list their house for sale... in Florida, with inventory so short, takes extra time nowadays... great post.

Be safe and healthy..

Apr 18, 2021 05:56 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Andrea, Good to see you. Having the patience to wait for that perfect home, leads to a bunch of happiness!

Apr 18, 2021 09:03 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Margaret, one of my buyer clients did exactly this, they put an offer on a house they really didn't love, luckily, their offer wasn't accepted. They are now under contract on a home they absolutely love. Never settle!

Apr 19, 2021 07:00 AM
Margaret Rome Baltimore 410-530-2400

Beth, How fortunate they did not get their first offer accepted. They waited for the right one!

Apr 19, 2021 02:05 PM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Margaret,

If you pick the wrong candy at a convenient store, you can toss it or give it to the kids at home, but a house is a much longer commitment, so better to pick the right one for you. If that means taking a little longer to figure out your exact criteria and then knowing for sure which house to go all out for and which one to pass may be much appreciated by your older self 10 years down the road.

Apr 19, 2021 07:16 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Dorte, Good analogy:

"...a house is a much longer commitment, so better to pick the right one for you. If that means taking a little longer to figure out your exact criteria and then knowing for sure which house to go all out for..."

Apr 19, 2021 02:08 PM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Thanks Margaret. I always look forward to what you have to say. What a crazy market we're in. Some people think they're priced out of the market. In some cases, they're just priced out of what they really want. I always want to help people get what they want. 

 

The theme of this market is, If you can't get what you want, then get what you need!

Apr 20, 2021 06:48 AM
Margaret Rome Baltimore 410-530-2400

Carla, Thank you. It is a wonderfully crazy market and I just hope we are all helping to get the buyers and sellers what they want!

Apr 21, 2021 02:02 PM
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

You should always be happy with your selection of a home. 

Apr 20, 2021 07:09 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I tell buyers, you probably won't get everything on your wish list--if you get most of it, be happy with that!  So often it's a "feeling" the buyers get after walking through the house...if it's "the one" or not.  That's a valid emotion, along with the needs and wants on the list

Apr 20, 2021 11:17 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mary, It's that lovin' feeling we are looking for!

Apr 21, 2021 02:03 PM