That Elusive Great Deal
February 9, 2009 by admin · Leave a Comment
It’s so hard, mentally. You are an intelligent individual who has turned off the constant drivel of the liberal news media and quit reading the local paper in favor of headlines on your home page. You realize that the stock market is likely going to continue in this pattern of fits and starts for the next while, so you decide to look into real estate investing.
Heck, you’re not even greedy-you’re just looking at the dogs no one else seems to have wanted on the market for 3 weeks 3 months.6 months. You take your time investigating numbers and such and then decide you’re ready to pull the trigger. Lo and behold, 3 of the properties you want already have multiple offers on them!
Multiple offers, you say? In THIS market? Surely you’re the only buyer out there!
But it’s true. Those dog houses are attractive to the other folks who have seen the light, just like you. Other folks are taking money out of the equities market and putting it into real estate. There are so many good deals, it’s hard to choose-but you know, taking your time to choose just means that you are letting other folks choose FOR you. You’ll be left with the last snarling dog house instead of that cute one, as the market comes out of this trough. Waiting hurts you-puts you into a position of bidding instead of offering-reduces the available inventory-and every purchase helps the market get out of the doldrums.
Also, you wanted to put in an offer 20% or 30% below asking? That’s not going to happen. If the banks are desperate, they could consider it. But with multiple offers becoming the norm on bank-owned property, they won’t go down that far-they already underpriced it from the start. You have to mentally prepare yourself for full price and beyond if it’s the one you want.
So when you call me, I’ll send you properties that are the diamonds in the rough or even the not-so-rough. And you have to be prepared to get after it-today-if you want any of them. Waiting just mean that you and I will do the same dance day after day with new properties.
Leigh Brown, aka The Real Estate Diva, is a native of Concord NC in the Charlotte area. She grew up on a farm at the edge of Cabarrus County, still goes to the same church she grew up in (home of the world famous Mallard Creek Barbecue!), but has become a leader in area real estate through constant learning and continually upgrading technology to better serve buyer and seller clients. Leigh does indeed have a reputation as a barracuda-when it comes to protecting client interests. Her softer side is reserved for her husband and two kids who provide a constant source of joy-and entertainment
