I enjoy working with First-Time Homebuyers. They're almost like wide-eyed kids, going to Disneyland. It's so much fun for them to go house shopping. I get excited right along with them. I hope so much for them, that they can end up in the house they fall in love with. But hello, we're in the 20teens, in California. There are many more investors with fists full of green stuff that they can plunk down to "win" in a bidding war.
I'd say, "Prepare for battle!", but that can be a long and arduous task. It entails socking away every penny you can to have your own "fist full". But never fear, if you have patience, you can win!
4 Hints to Patience
Find your Zen
Yes, people are getting properties you want, and not you. I totally get that that is hard to take. But breathe! Try to act like it's ok, because there is another property for you that you will also love. In all of time, that one property didn't just happen to come up for sale right when you were ready. More are either out there now, or they will be.
Pasta test offers
The pasta cooking myth was that if you threw pasta on the wall, and it stuck there, it was done. Not so. It's actually overdone, and sticky. My point here is don't throw a gazillion offers to see which one sticks. If you don't have capital to work with, no amount of offer slinging is going to help. But, if you genuinely love the properties and want to offer, go for it!
Be a dirt stomper
The story of the goat in the well comes to mind. A goat fell in an old well and couldn't get out. The owner/farmer started shoveling dirt in to fill in the well. With every scoop, the goat shook off the dirt and stomped it. He became weary, so much so that he almost collapsed when in only one more foot, he could climb out. He persisted through his agony, and made it out. He never gave up!
Walk into Spider Webs
Do what you can to network. It's not just for landing a new job. Walk into that web of friends and their friends! Tell everyone you're looking to buy a 3 bedroom, 2 bath (change as it applies), for X amount of dollars. Maybe mention what you're planning for financing. They may know someone who would like to sell. You just never know who knows who!
Written By Guest Blogger Michelle Hamilton
Author:Sean Safholm BRE#01270334 Phone: 916-920-7000 Dated: March 22nd 2014 Views: 302 About Sean: Sean Safholm started his career in real estate in 1999 when he was going to college to study real es...
Sean Safholm is a licensed Real Estate Broker in California. He is a real estate investor, broker, and seasoned mortgage pro. Sean has closed over 2000 transactions on the mortgage side of the business and a few dozen house deals for his own account. He has extensive knowledge on all sides of the real estate transaction and is here to assist first time buyers, move up buyers and investors with all their real estate needs.
The news came out a while back that Freddie Mac was suspending its new
"My husband and I were looking to buy a home and needed direction. We needed help finding the best area that was going to fit our family needs as well as finding a great loan that would fit our needs. We contacted Sean Safholm who was wonderful in taking care of us and helped us find the area that worked best for my family. He directed us to a new home subdivision that had the perfect house and met all the needs of my family.
He always answered all of our questions and picked up his phone every time we called. Even though he was not our real estate broker, Sean helped us with our financing to purchase our home. We feel we got the best deal in town with our mortgage. I priced/shopped rates with a few lenders and by far Sean Safholm beat them not only in price and payment, but also in customer service! I continue to recommend Sean Safholm to all of my family and friends.