Case Study # 2 – On Top of the World. A good friend of mine referred a young couple my way. They were both in their early 20s and were adamant that they wanted no financial help from their parents. They were specific about where they wanted to buy and how much they wanted to spend. The area was not one of my primary markets, so the first task was to learn the ins and outs of the area. I did a CMA and toured the area. I called local agents for off-market properties; I searched all the sold, expired, and off-market sources; everything needed to absorb the market before we went out to preview houses on a clear Saturday morning. They sent me their list and I used the MLS to map out our preview schedule. I found one place with an absolutely stunning view that I wanted to start on and end on if possible. This hilltop condo was just a little over budget but an outstanding buy and I knew it would be a place that would impress all their friends and family. It met their requirements too. But, I wanted them to see all the other homes, so they would be prepared to make a decision.
We were in a market with limited available inventory. So for case Study # 2 – On Top of the World We had a list of 6 homes to see from nine to noon. Fortunately, they were all within a confined area. Up the hill, down the hill. bad parking, bad kitchens, claustrophobic locations, and bad floors with prices below their goal price.
When we went back to the hilltop townhouse, it was a no-brainer. Case Study # 2 – On Top of the World had some really ugly kitchen cabinets but was otherwise a great house. While it was a bit outside their budget, I was more than happy to negotiate with a great listing agent to get the price down for them just a bit; we used the repair and remodel needs to help drive the price down to something very close to their budget, and they are living there happily to this day and making it their own with remodeling.