Long Beach Housing Market

Closing the Sale
December 1st, 2008 5:34 PM
It's not my job to convince you to buy a house.  It's not my job to convince you to sell a house.  But...if you ask my opinion I'll always give it, fairly and honestly.   Well I had a client who made an offer on a house, they were buying as an investment and I was referred to them by a past client.  Always a great way to start a relationship.  Anyway they had decided to pay all cash for the house.  About 25 days into the escrow the market crashed, the prices started falling on oil and like the rest of us they saw their investment portfolio change dramatically.  They called and said we can't go through with it, we want to cancel the escrow.  They loved this house and it almost felt like magic the way they felt when they walked through the door.  So for the first time I told them they were making a mistake.  They loved the house so much and if they were willing to pay cash I suggested they speak to a lender and see what it would cost.  They could use a smaller amount of cash to put down on the house and if the market and oil came back they could pay off that mortgage.  But they would get the house they loved and they would be able make reasonable payments on it.  They moved forward, got a loan, the appraisal came in easily at the price they offered to pay and last week we closed the transaction.  I tell you all of this for 2 reasons, first of all to tell you that people are still buying houses and there are some very good deals to be had.  And more importantly to let you know there are always other options and sometimes it's the Realtor's job to give you a little "push".  I know I saw my clients on Sat. and they couldn't stop saying thank you for pushing them forward they were thrilled with their purchase. 

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Posted by Heather Burke & Sarah Ireland on December 1st, 2008 5:34 PMPost a Comment

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