Every now and then the idea for a post materializes before the ramifications of the post’s meaning come to mind. This is one of those cases. So stay with me as I tap dance through this chapter of my history.
Eighteen years ago this month, I watched a friend of mine get married. She knew she was marrying the wrong guy. I knew she was marrying the wrong guy. In fact, the only person apparently oblivious to this fact was the groom himself and maybe his best man (who probably had problems figuring out how to dress himself.)
I made a brief appearance at the church, not to disrupt things in the “I Object!” kind of manner but, well, I don’t know. It probably was akin to driving past a train wreck. Just had to see it. But the basic reality is I found myself waiting for someone who already was committed to someone else.
And that’s exactly where I’m seeing more and more buyers go these days, particularly in the last several weeks when the market has gained momentum. By focusing primarily (if not exclusively) on short sales and bank owned homes that already are under contract and/or awaiting final bank approval, buyers are doing the real estate equivalent of going to a wedding to ask the bride out on a date.
Maybe the marriage won’t work out and maybe it’s apparent from the get-go … half of all marriages end in divorce or some such and only around 1 in 6 or 7 short sales close. But while these buyers are focusing on what they can’t have, other opportunities are walking right past them. Been there, done that, have the blank dance card from it.
I’ve got no issue writing offers … it takes me about 15 to 20 minutes to put one together, scan it and get it sent out. But it makes much more sense to write offers on properties that are available versus those who only will become available if everyone else who already wrote an offer has surrendered.
Do those situations happen? Absolutely – and about as often as you see a would-be bride turn away at the altar rather than go through with the wedding. It’s a long shot sufficient enough to make Mine That Bird look like Affirmed.
Here’s the more logical play … find a home. Make your best offer. And I mean your best offer, not your best initial offer or your best trial balloon, but the offer you would make if you were told you had one and only one shot at getting the home.
If you get the house, great. If you don’t, move on to the next. There are many fish in the sea, as my mother once told me, and many other homes on the market.
And if you feel the need to check back now and again surreptitiouisly at 3 a.m., I certainly won’t judge you. I’ll even help you take action quickly if you see the listing go Active again. But I’ll tell you from experience … if you find your way to closure, it will give you a far better chance of living happily ever after in the end.
[tags]Phoenix real estate[/tags]