I'm Only Sleeping

ZZZZZZZzzzzzzzzzzz!!!!!!!!!!!!!

As the mercury rises outside, people's energy drops. This must be the reason why it has been so quiet today.

I made some follow up phone calls to prospective clients to touch base with them and see what they thought about the last bit of free information I gave them. Sorry, it's amazing how fast you get discouraged after even just one day of "not much happenin'". I spoke to a woman this morning that I have been corresponding with since March; we have never met. I thought I had found her the perfect home; location, price and setting. She was to talk to her banker about taking out a bridge loan since they did not want to put their home on the market until some work was done.

[A bridge loan is a special type of mortgage where your old home and your new home is financed together. Therefore, you do not have 2 mortgage payments. You basically end up with 1 1/2. It is one solution to getting your dream home before it gets away while you sell your current home. Then in the near future after you have sold the old home you can refinance and have just one normal payment. The pitfalls are that you are saddled with a rather large mortgage payment and there is always the chance that the old house will not sell in a comfortable amount of time. Please talk to your banker for specifics.]

Well, she decided that a bridge loan was not for them even though the house was perfect, etc. She was concerned that the amount that they could afford to offer the seller would not be fair to the seller. Boy, you don't meet such nice people too often! Most potential buyers want to get the home for the lowest price possible; that's the name of the game. I will follow up again soon to see if she would want to reconsider since the sellers are very motivated.

I also spoke to a gentleman interested in some new construction he had seen in a new subdivision. Again, the seller who is also the builder is very motivated and is willing to come down quite a bit. Hopefully we can get them together and I can get the buyer pre-qualified quickly. (Yes, I know. I should do this before even getting started, but different situations call for different approaches. As the saying goes, "The definition of insanity is 'doing the same thing over and over again and expecting different results.' ")

The reason I say this is because a young couple came into my office who were looking to buy their first home. I sent them to several banks to get a pre-approval letter and I haven't heard from them in 2 days. First time home buyers can get scared when cold reality sets in. This is a balancing act that takes a bit of discernment and there really are no pat answers as far as I am concerned. You just have to be gentle and understanding and give everyone the amount of space they require. And remember, this is not a contest; so please, no wagering.