patience
Developing Patience to Deal With Sacramento Real Estate
Somewhere along the line of getting older I managed to develop patience, most likely in the midst of believing I had no patience. I once tried to teach myself patience in my younger years, long before I became involved in Sacramento real estate. Back when I worked as a title searcher at First American Title in Boulder. My plan was to sew a dress. OK, it wasn’t bad enough that I once had run a sewing machine needle through my finger and out the other side when I was up past midnight, frantically trying to finish a stupid three-cornered scarf for my 8th grade Home Ec class, and that was the last time I ever attempted to sew a thing. But let’s just say I felt that patience was not my strong suit when it came to sewing.
If anything could teach me patience, it would probably be sewing a dress. It’s not like you can look at a swath of cloth and it will immediately materialize into a dress, unless you’re working in Photoshop. In the real world, you have to drive to a store, pick out a pattern, buy sharp scissors and that rippy-outie-thingamagig for tearing out the threads you sewed in error, plus the material. Just to cut out the pattern and pin it to the material is a major feat, then you have to carefully cut the cloth before any of the real fun begins. Lots of patience prior to final product.
Even today I still tell people that I have no patience. However, I have a lot more patience than I give myself credit for, and if you’re in the same boat, you might be the same. Oh, I remember those job interviews from 40 years ago when you were expected to come up with a negative about yourself. I could never think of anything, primarily because I don’t go around focusing on bad things about myself, so I would use patience. Yup, I’ve got no patience, I would say. I mean really, who does?
I’m discovering that wasn’t necessarily true. For one thing, I bought a new car last October and I still don’t have it. It’s a 2016 Mercedes GLA, and the sales guy said he would interrupt a vehicle scheduled for assembly, slip in my custom order and it would be ready by the time I came back from vacation in Cuba in early January. Except it’s still not on the assembly line. We also bought a house we can’t live in because it’s in Hawaii. See, new car, new house and I don’t have either.
As for that dress I tried to sew. Let’s just say it ended up in the trash can because I sewed it inside out. The real lesson is sewing doesn’t teach patience. Patience teaches one not to sew.
I am in the midst of working on a bunch of listings for Sacramento real estate. Many homes are just not ready to go on the market yet, and that’s OK. I’ve got a lot of patience to wait until they are ready. I’m in no rush. My time is the seller’s timeframe. My professional strategy is to make a splash with a new listing. Every detail in place. Patience helps me to accomplish that goal.
Sacramento Home Sellers Dump House at Huge Loss
Impatience lost a couple of Sacramento sellers $50,000, and I don’t have the heart to tell them. These sellers don’t read my blog, and I doubt they know anybody who does, so it’s not like I’m breaking the news to them in this manner. Besides, it wouldn’t have changed anything for them because they had already made their decision; they just apparently didn’t have the heart to tell their Sacramento real estate agent about it.
Instead they elected to remove their home from the market so they could refinance. At least that was the story. One can’t get a loan on a home if it’s for sale in Sacramento. Maybe they started out thinking about a refinance and then some EP (equity purchaser) guy called? Maybe that EP guy was a client of another agent whom he wanted to cut out of the deal or maybe the guy just regularly combs the canceled listings, calling sellers, trying to strip out every last dime of equity and leaving a few scattered pennies on the table? Hard to speculate, and it doesn’t matter.
The situation is the sellers grew impatient. Their home wasn’t selling fast enough. It was due to price, like most homes that don’t sell fast enough. The price needed to be a little bit lower but the sellers continued to hold out hope for their price until they just gave up. Out of the blue. What I know is they asked to cancel the listing because they planned to refinance, and the next thing I saw they had suddenly sold their home at a gigantic loss. It’s called a For Sale by Owner.
The new owner then put the home back on the market for $50,000 more than the owner had paid for it. Along came a buyer who contacted me. The buyer contacted me because I sell a lot of homes in this particular neighborhood in Sacramento. My buyer bought it. That $50,000 is going into the pocket of the EP guy. Telling my former clients that they messed up would be pointless and mean. But it’s not pointless for readers of this blog. It’s a good example of what can and does happen.
If they had only waited for the fall market in Sacramento and continued to list with their Sacramento real estate agent.
Yoda says: Patience you must have, my young padawan.