Wait Was The Magic Word That Worked It's Wonders In 2008!

By
Real Estate Broker/Owner with Pacific Grand Estates

For the past 2 years I have said or heard  that blasted 4 letter word way to much, WAIT!

"Wait for a better deal" I would say.

"I want to wait for cheaper prices" I'd hear a client say.

Sometimes I wanted to scream. I'm sick of waiting, but then again I was the one saying wait wasn't I?

My favorite example of waiting working (and there have been many in the past few months) is with buyers I have been helping since 2007. I am so happy to report that the wait is over.  The last time I said wait to them was  September of 2008.

My clients sold their home in 2005. They took every penny that they made on that sale and stashed it away. They have been renters for almost 4 years now. Some would say that they've wasted 4 years of rent money, but not my friends. They've been hoping and planning for today.

Back in September they wanted to start looking for a home. They planned to cap their purchase at $500,000. They would put 75% down and finance the other 25%. They were comfortable, but I wasn't. I said I really thought that unless we found their "dream home", we should wait and see if prices keep falling (which I knew they would) and maybe we could find the perfect home and they could pay cash, aka. NO MORTGAGE!

I showed them graphs, I showed them data, I showed them homes! I showed them declining prices and increasing value. I showed them I worked for them and that my only goal was their happiness.

We looked, we researched and they decided to casually look while we waited again!

Well, I am happy to report that waiting worked! We are now going to be really looking again and we'll be looking in their cash price range and they are happy!

Neither of us care if it takes a little more waiting to find the right home for them, because it's already been proven that that little four letter word WAIT... works!!!

Posted by

Pete Reese, Broker/President

License #01739054

Sale Pros Realty

www.JoinSalePros.com

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Comments (3)

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Congratulations.  Your listening and patience has paid off.

Jan 27, 2009 07:11 AM
Peter Reese
Pacific Grand Estates - Rancho Santa Fe, CA
Luxury Real Estate Agent - Rancho Santa Fe

thanks!

Feb 02, 2009 02:47 PM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

Hey Heather:  It does often payoff when you're patient.  Good for you!

Mar 07, 2009 01:35 AM