Yes, this is all we have been hearing and it is an exceptionally good question.
Let me tell you about Craig & Jenny.
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We got their home ready for sale and were just waiting to find the right new house. With every passing month, they were excited on seeing the value of their home continue to rise. Once we found a home, they fell in love with we placed an offer on it. Yes, sometimes we lost out because we got outbid by $20-$30k over the asking price.
No problem. They finally found another dream home and this time they got aggressive and offered $50k over the existing list price. We had a remarkable story; their finances were in line, and they went for it only to get outbid by $100k. GEEZ! 😕
Yes, they did get discouraged and they even had a chance for one more go around. But I had to tell them that they are caught up in the emotion and this home just does not justify that price. STOP.
Many will tell you, sure it does because somebody else is paying that much – so that proves its value, right? NO!
If there is one thing that is clear and that is there are some market conditions that are strong, HOT, WOW and sometimes just ridiculous! We are in the” ridiculous” right now and the danger comes when you just get carried away and throw all common sense out the window.
30 days later we found another exceptional home that checked all their boxes. We put together a great offer package, it was priced reasonably, we offered $10k over the list price and the owner felt good about them and the terms. BAM!!! Success and Craig & Jenny were so excited! All the stars lined up! 🤩
When they looked back at the entire process, they realized three things that they wanted me to share with others.
First – Stay calm! There will be a lot of difficulties with your emotions but stay the course.
Second- The market is crazy but listen to your gut instinct!
Third – It’s ok if you miss an opportunity…there will be another one!
After 30+ years of serving families through this process, I have become extremely comfortable with saying STOP, YES, NO, etc. Funny, Craig & Jenny both said to me… Joe, we heard you loud and clear and it was all good. 🙂
I created a signature guide called the “2nd Story Process” for families going through this phase. 🧙♂️
Give it a read it is one of our most popular pages. 👊
