Boomer Chick Musings what I think about when I’m not thinking about real estate.
I was riding my bike home through Crown Beach, along the beach last Tuesday, and I saw my client and her two kids! They were ready for anything and going in the water was just fine!
Commentary – Buyer’s Remorse
I’ve been thinking a lot in the last days about ‘Buyer’s Remorse.’ I can honestly say that I’ve never had anyone who has suffered real estate buyer’s remorse when purchasing a property. That’s because we understand the circumstances involved with those purchases. And I usually stay in touch with each client. And if there’s an issue, we figure it out.
Even when the financial fiasco hit, most, if not all of my clients, made it through but it was tough. Some of my clients found that it was the perfect time to buy (low) and now they are reaping the benefits (as in doing necessary repairs).
I know there may be glitches that come along the first months of owning a new (old) home and/or units, but those hick-ups don’t last because we see the larger picture. That larger-view transforms a house into a home, or units into homes for others.
Plus owning a property that we can mostly live in makes it mostly worthwhile!
Buyer’s remorse, is what I realized I had after I gave up feeding multiple $$ into my Audi, which was brand new in 2002. Once I realized that my love of the look of the Audi was no longer able to feed my ego I got rid of it. Adios Audi! And my pocketbook says ‘thank you,’ each day.
Buyer’s remorse happened when I made the decision to sell our 1966 26′ Chris Craft, twin-engine, boat. It was fine for a few years and I put mega bucks into it, in Carl’s honor. But over the years I found none of us were using it, and the market was a disaster for boats (and still is, based on how many empty slips are sitting in the marinas these days). So I decided to sell it…for $1. $1 beat continuing to pay for the covered berthing slip, the insurance, the surveys, the resulting damages noted on the survey, and blah blah blah. The first person I told was a Realtor/Broker friend, and his ex-son-in-law (who had no boating experience) bought it 1 week later. Buh bye boat!
I think the best way to think about buyer’s remorse for real estate, is taking time to understand before you buy, what may bug you about a property, can you do anything to make it not bug you, and if you don’t have the power, money, or ability, to change those conditions…walk away from it…whether it be a fixer or a mansion.
Buyer’s remorse (for real estate purposes) should be handled before you put pen (Docusign) to paper (to the computer screen) and make an offer. In markets very different than those here and now, you may have inspections periods and more contingencies. But not now….not today.
Alameda Real Estate this week…
Broker Tour Tues 5 this week….maybe because folks are taking vacations, and waiting until the kids get back to school.
Alameda Real Estate Awards this week… remember this is only my perspective!
That’s it for now! Call if you have questions! Look around at the blog and website….let me know of any errors or mistakes!