What does “GOOD Deal” mean to you?
This is the question I fire back when a prospective client asks me if there are any “GOOD Deals” out there.
It’s a far safer reply than the response that first comes to mind (which might be misinterpreted as a flippant dismissal):
Of course! There are LOTS of “GOOD Deals” out there . . . I’d venture to surmise that most Home Buyers feel like they got a “Good Deal” when they sign that stack of paper at the closing.
After all, these home Buyers entered the process of buying a house and have spent months and months considering their options, securing satisfactory (Good Deal) financing, touring neighborhoods and houses, negotiating agreeable price and terms and satisfying themselves as the condition of the house (Home Inspections) and the Value (Appraisal).
I’m not so naive as to think that ALL Buyers feel “Good Deal Euphoric” at the closing table else there wouldn’t be such a term as “Buyer’s remorse,” and we REALTORS work diligently throughout the process to avoid such remorse.
“GOOD Deal” is a relative term:
- Investors look for “CAP Rates” and “enough” Return on their investment
- Residential Buyers might focus on price per square foot (Price) relative to other houses in the area
- “Up-Side” appreciation is often a consideration . . . “Will I be able to sell this property at a profit in 2 years?”
- “Fixer-Upper” tolerance is often a factor . . . “Will I be able to improve the property (Rehab) to increase it’s value significantly with minimal financial investment?”
- “Timing” considerations . . . “Can I close and move in when it’s most convenient for ME?”
- “Location” . . . “Can I be waterfront and walkable to everything I want to do?”
. . . and the list continues.
What’s a “GOOD Deal” for one Buyer may be “Foolish” to another.
“One man’s trash is another man’s treasure.”
This isn’t just about houses.
Whenever buying ANYTHING, we all measure our options and follow our own “process” for determining what would be a “GOOD Deal.”
I don’t think ANY cup of coffee is “worth” $6.
So . . . When a prospective Home Buyer asks me: “Are there any GOOD Deals out there?” my reply is simply:
Now . . . Let’s get started figuring out what “GOOD Deal” means to YOU . . . and then, let’s go out there and find it together.
There are LOTS of “GOOD Deals” in the Middle Tennessee Real Estate market these days.
It’s never too early to start this process . . . Connect with me NOW if have even the slightest inkling of an urge to move 🙂
Hope you’re amidst a fantastically productive week.