Sunday, August 12, 2007

Extra Extra! Buyer has realistic expectations!

I recently received an email from a buyer-client which made me fall out of my chair laughing. Here's an excerpt from the actual email:


David and I have put our heads together and come up with a description of our ideal home.

Move-in ready, former Model Home; 4+ bedrooms; 3+ bathrooms; single story; 3000+ sq ft; professional landscaping; heated swimming pool with waterfall and beach-type entry; covered patio with built-in barbeque; large library with 45+ linear feet of built-in bookshelves; gourmet kitchen with built-in 6 burner, gas range top; 2 wall ovens; granite counter tops; cherry cabinets, large walk-in pantry; 3 car garage with built-in cabinets and workshop. Must have a water and mountain view and be on a large lot. Oh, yes - we don't want to pay more than $200,000 for it.

Now if you can stop laughing - here is the real information in order of importance"...

This is funny because we all know they won't be able to find a home that meets all their criteria at the price they've indicated. Yet I regularly talk to buyers who have unrealistic expectations about their home search. It's something that all buyers have in common (myself included when we moved last year!) Everyone wants the perfect home with the perfect amenities in perfect condition in the perfect neighborhood on the perfect lot, and at a below-budget price.

Unfortunately, there's probably only one or two of these homes available in the Greater Phoenix area PER YEAR! As a buyer, you need to be prepared to consider which of your criteria are flexible and which are not. There are generally 5 different criteria (price, size, condition, lot, neighborhood) which will all play a role in determining your perfect home, and knowing which ones are the most important to you can help you have a successful home search.

- Chris Butterworth