Tag: Home search

Mom, Dad? I found “THE ONE”!

I’ve been asked this dozens of times: “How do I know if I’ve found THE ONE?”

I secretly love this question. It even makes me a little misty-eyed when I start to answer. Cheesy right?! I can’t help it! It’s almost impossible to not get emotionally connected to clients. From the very beginning I start getting to know each of them personally. It’s a natural progression when you spend any length of time with someone. After all, I’m about to play match-maker.

What are you looking for in a home?

What is most important to you?

Connectivity? Curb appeal?

Do you prefer a ranch style floorpan, or something taller, like a 2-story?

How about age? Are you into older homes with character or newer homes that are more low maintenance? Grey is in!!

These may sound like questions for a dating profile, but that’s exactly what we’re about to start doing. Dating. Homes that is. Depending on the areas of town my clients are looking in, it may be more like a speed dating reality show, but dating nonetheless. As funny as it sounds, these questions are important. They help me pair certain neighborhoods and areas of town with the personalities and preferences of my clients. They help me filter some of the prospects out, although I do encourage keeping an open mind;)

Truthfully speaking, I advise clients when I’m preparing the property search that we keep their criteria to the most important, but basic, requirements. This is because of the lack of prospective homes on the market. (See my debut post “Who’s Market is it Anyway?”) The more detailed and specific we are with our wants and needs, the more homes that will be blocked out because they aren’t a match. I suggest basic requirements such as number of bedrooms and baths, price range, areas of town or school districts and whether a basement or garage is desired. This ensures the most results that will come through. Of course, what’s important to them is important to me and if that means a fenced yard is a must-have then a fenced yard is on the list. Check!

Once we have this determined, and a few other things including pre-qualification and realistic timeframe to buy, we are ready to start meeting the matches. Don’t worry, a new outfit is not required. (Speaking of new outfits, don’t make any big purchases when you are getting ready to buy a home or while you are in contract to purchase. This can absolutely affect your qualification. So hold off on spoiling your mate until after we close!)

Then the fun begins. We go out, we start meeting homes in person, seeing who makes the cut or who get’s swiped away. Each buyer has their own little signals, mannerisms and clues that I listen and watch for. These will be revealed consistently throughout showings. Something as diminutive as a quiet throat noise or a “hmm” will indicate to me a bit of lackluster enthusiasm about this prospect. Sometimes there are more obvious clues like envisioning where furniture might go or where the TV will be placed. Brainstorming on how they see themselves interacting in their future together. It’s a process.

Oftentimes, I can tell before my buyers whether or not this is “the one”. As we walk through homes together, there is an agenda. We are not just looking at the appearance or aesthetics of the home.

Is it pretty?

Handsome?

Stone countertops and stainless steel appliances?

We are also looking for it’s flaws. Because let’s face it, EVERYONE (every “thing”, excuse me) has flaws. The question is, can they be overlooked? Can they be justified? Can the buyer say, “I’m willing to accept this because it has these other features that I really like”?

So what is the agenda? Well, it’s to point out the good, the bad and the ugly. We are, after all, only on our date for an hour or so, sometimes less, before deciding to make a commitment. That’s not much time in the grand scheme of things. I have told many a client “You can do better.” That’s right. I work in a fully commission based field and I will suggest if I think we should keep looking. This isn’t about me. It’s about you and your future together. I’m like your house-dating-parent voice of reason! It truly is about connecting you with the home of your dreams.

So back to the initial question I am often asked: “How do I know if I’ve found THE ONE?”

It’s simple. You get that “feeling”.

Butterflies.

Excitement.

Giddiness.

Heart palpitations.

You just KNOW.

It feels right. It feels comfortable.

It feels like HOME.

But, remember, as I always say, don’t fall in love yet.

You just met.

Who’s Market is it Anyway?

Hello Columbus!

Can you hear me from inside these walls?!

If I’m being honest I have wanted to do this for a long time and now that we are socially isolating (let’s face it, that’s what it really feels like) because of the…ugh, I can’t even say it! Well, no time like the present I suppose. Blogging starts…NOW!

Up until just a couple of weeks ago, it was business as usual. Very busy start to the spring buying season and on track for a great first quarter. Just the other day, someone asked me if we were in a buyer’s market or a seller’s market.

First, let me explain the difference between the two. In a buyer’s market, we have an abundance of homes on the market for them to choose from. An increased inventory means the buyer doesn’t necessarily have to make a quick decision and they are in control. i.e. more inventory than there are buyers looking to purchase a home. In a seller’s market, we have fewer homes on the market and a large pool of buyers, essentially competing for what little is available. Sellers reap the reward of that demand and often pushing the price of their home up and they often get multiple offers over asking. 

My response to their question was “both”. They looked, one eyebrow raised, and so I explained my point of view. With the lack of inventory, or “fast” inventory as we have been calling it, (homes come on the market and exit faster than the speed of light) and the high number of buyers, naturally you would say we have a “seller’s market”. But, that seems to only be true until there’s a contract. Then, there is often a shift in power.

Suddenly, we have a buyer who has paid a premium price often over asking, sometimes having waived contingencies and sometimes not, that’s calling the shots. Troubling home inspection? No problem. They’ll walk, never having had an emotional connection to begin with. Not getting the response to their request for repairs? They’ll push, hold firm, or hit the road, leaving the seller scratching their heads thinking they thought they loved the home!  Truth is, they don’t always fall in love with the home in the beginning anymore. In fact, my advice to buyers: “Don’t fall in love just yet”. 

Hearts will sometimes be broken.

I coach my buyers to keep emotions aside. For the seller however, it can be a rollercoaster. Will they toss in a load of cash for repairs? Will the buyer walk? Stay? Will it appraise? Should they even pack?? Even with the lack of sitting inventory, buyers feel pretty confident that another home will come along if this one doesn’t work out.

So yes, just based on digits, low inventory and a large buyer pool equals a seller’s market. But who wears the pants in the relationship? That is up for grabs.

Now the looming question: Will Covid-19 (eek! I said it!) shift our market? I think it’s too soon to tell. Things are fragile, yes. We are in uncharted waters. We are figuring out what to do one day at a time. But most importantly, we are in this TOGETHER.

We WILL get through this.