Are You Living In Fantasyland During Your Search For Real Estate?

By
Real Estate Agent with RE/MAX Platinum

For Most Real Estate Buyers......Getting Everything You Desire, Isn't Going To Happen!

 

I recently published a magazine article, where I made the following suggestion....approach your effort with dedicated preparation and a realistic mindset. Make two lists.....with the first list, write down what you consider "must have" necessities. The second list should identify desireable amenities. What I am about to share, truncates the efforts of large segments of lookers......."If you find a property which provides you with sixty to seventy percent of the items on your "must have" list, prepare yourself to write an offer. Too many propsective real estate buyers succumb to the "new car purchase" mentality. "If I can't get everything I want, I'll visit the next dealership".

Following, is a brief list of the top real estate purchase "deal breakers". With frequency, we have buyers who balk with writing an offer because they believe the asking price is more than they can afford. How about this deal breaker, "The lot is steeper than what I envisioned". And finally, "This house has everything we desire with the exception, the kitchen needs updating!" 

Unfortunately, for these buyers who live in the Fantasyland, one of three outcomes will materialize, 

     A. They will continue to focus on looking for properties which don't exist!

     B. They will refuse to accept the fact, what they want to spend on a purchase doesn't align itself with the price of properties which provide for their desires and amenities.

     C. They equate the purchase of a property to that of buying a new car......"I'll be a matter of a few hours and we'll have a done deal". These people don't understand/accept the time frame required between writing an offer and the closing of a sale.

Accepting the fact that you'll most likely not get everything you want or desire......will make the difference between successfully completing the purchase of real estate and continuing to wander in real estate "no-man's land" searching for the impossible! 

The best course of action, secure the services of an experienced, qualified real estate agent who specializes in your area of interest (farmland, waterfront, mountains, etc.).

Posted by

"Smith Lake Alabama's Top Producing REALTOR For Waterfront Properties"

Comments (3)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Sharon - a healthy dose of a combination of reality and preparation can help in ones search of a cure for the real estate blues when fantasy thinking does not bring the right results.  

Jul 08, 2021 08:59 AM
Trish Cole
Veterans United Home Loans of Puget Sound - Puyallup, WA

Great information.  Setting propert expectations, for all parties, is even more important in the market we are currently experiencing!

Jul 08, 2021 09:11 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Too many buyers are slow in accepting the reality of the market and still think they can wait for the right home.  They may find that home in a few years but interest rates will not be low and they won't be able to buy it.

Jul 08, 2021 09:35 AM