The 3 Ps are Pocketbook, Patience, and Perseverance
SOLD! Happy Buyers! 10857 NE Bill Point Hill, Bainbridge Island, WA 98110
It’s becoming ever less amusing when you’ve been working relentlessly for your clients and the contracts you’re writing aren’t accepted. I have certainly received my fair share of successes, however, given the number of contracts I’ve submitted, it's astonishing how many contracts haven’t been high enough to push my clients into the first position. At what point is enough never enough? For me, I can take it. But for my clients and their purse strings, emptying one’s piggy bank is one thing and emptying your peace of mind is quite another.
My heart goes out to buyers who wish to purchase a home and don’t have an endless supply of cash. Reducing the starting price of your home search in order to successfully over-bid is becoming a more common strategy. If you're willing to pay up to $1,500,000 to find the right home, should you start searching in the $900s? Does that make sense? Over-bidding isn't the only way to weave your way through this market, but if waiving all contingencies and paying cash are the only means of success, what’s the answer? I love collaborating with each client on their home search — it’s a very satisfying process! We're in this together, as the market tests everyone’s patience, pocketbook, and perseverance.
If you’ve been searching for a home in this market for a while, your process has had to be more refined. It’s now a hunt, and your strategy must be well-honed. The playbook has changed: You research the area of your prospective home, walk the neighborhood, and determine the vibe — does it feel right to you? Determine if the location and what it brings to the table is the right fit. There’s more to a home than the home.
In the past, the home search has been about the home. Now it’s about “the DEAL” so let’s make one! Remember that you’re also purchasing the location; be careful about noise level, parking situation, or any pending development which may be looming in close proximity. Sharpen your pencil and fine-tune your enthusiasm, put your emotions aside and use your nerves of steel to craft a flawless offer. (I pride myself on seamless contracts that protect my clients’ terms and interests.)
Do all your homework up front. I send my clients the supplements that are attached to the listing, review and discuss all of them ahead of time, and review the guidelines explained in the Broker Remarks. Thoroughly review your offer before you submit it to make sure it’s as perfect as possible, down to the last detail. Most importantly, make a decision about your final price BEFORE you submit and try not to get caught in a bidding war. Do not — under any circumstances — waive certain addenda (ask me which ones and I’ll tell you).
Now that we’ve attended this offer-writing boot camp, you’re ready to enjoy the process. Losing one, two, or three deals will only make you better at landing that final one. There’s a home out there for every buyer and it takes time and energy, like most things worth pursuing!
If you're buying for the first time or haven't bought a home, know that the supplements I collect and send may contain essential information. Call me anytime at (206) 948-7135 if you have questions about the process.
HAPPY HOLIDAYS!
Bainbridge Island real estate over the past 30 days
9 active residential listings High $3,998,000, Median $1,495,000 Low $545,000, Average days on market 8
29 pending residential listings High $3,195,000, Median $1,197,500 Low $289,000, Average days on market 37
51 sold residential listings High $2,780,000, Median $1,142,000 Low $205,000, Average days on market 11
1 active vacant land listings $299,000, Days on market 12
3 pending vacant land listings High $875,000, Median $375,000 Low $125,000, Average days on market 21
2 sold vacant land listings High $1,375,000, Median $901,000 Low $427,000, Average days on market 67