Is It Better To Be the Little Fish In The Big Pond When Buying My Diamond Bar CA Home?
First time buyers in Diamond Bar CA often have more desire than they do money. This is not a bad thing, it is just simply a matter of fact. We’ve all got to start somewhere. Sometimes the biggest challenge is deciding whether to buy the large home that will be generally quite impressive to your friends or to buy the smaller home in the impressive neighborhood.
Many times I have buyers who choose the first option. They purchase the impressive big home because heck–It’s amazing! While there is always more than one factor when it comes to making the final decision on where to buy and which home to buy, it is always important to keep resale in mind. Perhaps we will start seeing people remain in their homes longer but in the past, people have moved homes roughly every five to seven years. This is one of the reasons that thinking about resale could be important.
There’s always something quite nice about an impressive home with numerous bedrooms and bathrooms but there can be equally charming and noteworthy items in regards to being the little fish in the big pond. For example, if we take two homes in the exact same neighborhood and we build just a handful of small homes in the neighborhood, the small homes will benefit from the larger homes. Why? This is based upon the Principle of Progression. The Principle of Progression states that the value of a lesser residence is increased in value by its location in a neighborhood of better homes. The flip side is that a large home in a neighborhood of much smaller homes is adversely affected by the value of the other properties. This is the Principle of Regression. Therefore, buying the only Taj Mahal in the neighborhood is probably not a good choice.
The moral is when you are the little fish hanging around the big fish you generally can’t go wrong. You’ll maintain better values for your home and get the added benefit of a wonderful neighborhood. So when it’s time to ask, “What’s My Diamond Bar CA Home Worth?” you may be pleasantly surprised at the value it holds.
A back up offer is an offer that is taken and placed on file. In the event that the buyer currently under contract for some reason can not follow through with the purchase of the house then anyone with a back up offer on file may be contacted. A back up offer does not guarantee that your offer will automatically be accepted in the event that the current contract falls apart. It is more or less your formal stated offer and statement of interest in the home should it become available again in the future.
typically do not remove the For Sale sign until the home has closed escrow. That means that the home is usually not available for showing anymore.
As disappointed as I was that all that waiting around seemed to flash before my very eyes once the real show began, I thought about how important the behind the scenes activities are even in Real Estate. Think about the preparations that must go into preparing a home for the market. The house may need some tidying up, there are market statistics and analysis that take place, marketing strategies, advertising, open houses, mountains of paperwork, and the list goes on. The “SHOW” can be thought of as a home showing. Think about just how fast a potential buyer moves in and out of a home as they tour it. What took the Real Estate agent or the homeowners months, weeks, or days to prepare for, potential buyers will see and be done with in sometimes mere minutes. But the “show”, however long, must capture the audience’s attention so that they will have a lasting impression. The kind of impression that will make the potential buyer crave more. The behind the scenes participants must keep this in mind at all times. This is an even wiser lesson for Real Estate agents who handle Bank Owned homes. While I realize that there are sometimes limitations on what a Real Estate agent can really fix, I am a firm believer in doing the little things that could make a difference. The things like ensuring the utilities are on so that potential buyers actually have lights to tour the property. Making sure newspapers are not crowding the front door, making sure the home smells fresh and clean. After all, you can’t bank on getting a second chance to put on your “show.” Oh sure, part of selling a home is to make sure that the Price Is Right but you’ve gotta remember that what you don’t see behind the scenes really does mean everything!
The young man lived in the home for years before and after becoming drunk went to the residence, unlocked the front door with ‘his key’ and passsed out. Police arrested the man on suspicion of public intoxication and public nakedness. The homeowner stated that she had never changed the locks when she bought the home years prior. Lesson…Change Your Locks When You Buy A New Home.