• Saved by a Snow Squall and How the Market Melted it All Away

    Saved by a Snow Squall and How the Market Melted it All Away,Matt Thomas

    Where were you Tuesday morning? Wasn't that snow squall something? We woke up with no snow on the ground and no flurries in the air. By 10:00 AM most of the Metro Area was enveloped in a fast-moving snow squall that made it look like a February Christmas in less than 2 hours. The snow stuck to the streets and people were caught in whiteout conditions. Yet by noon in many areas, blue skies were peaking out again.   Let me tell you how that little snow squall saved an opportunity for some homebuyers I worked with earlier this week.   This past Monday, I had the opportunity to work with buyers in from out of town. Often, when a buyer comes into town we have a compressed amount of time to see properties. To my surprise, we were able to find twelve homes in their price range so we squeezed that into a long afternoon. Normally, I recommend not seeing more than 6 to 8 properties at any one time. It allows for processing what you've seen and not have the homes blend into one in your mind. In this case, however, it made sense to see the best of what was available since they had a plane to catch the following morning.   Weekends are typically the busiest for showings. More buyers than not are most often available on the weekends. Showing homes on a Monday, when the market is heating up, can sometimes lead to missed opportunities when the best properties begin to go under contract after a good weekend of showings. This past Monday was no exception, though it was still February. By the time we began our tour of those twelve properties, I had already received phone calls from listing agents saying their sellers had begun considering or even accepting offers. At 12:30 PM that had already occurred on two. Later that afternoon I received another couple of calls from agents saying we could show their listings but they too were accepting an offer and going under contract. By the time our afternoon ended, we were able to see 8 of the initial 12; the other four were under contract.   My buyers loved two of the eight we saw. They wanted to sleep on their decision, which is always a good idea, when you have the time. They also had a flight to catch Tuesday morning which took off just before the snow squall the hit the Denver Area. By the time they landed home another 3 had gone under contract!   Finally, Tuesday afternoon, my buyers had narrowed their search to one specific property. Good thing, because the other one they liked went under contract next.   We prepared to make an offer, all the while staying close and aware of the action all around us on their favorite listings. The dominos were falling. My buyers began to waffle a bit wondering why the property they were considering making an offer on hadn't gone under contract already. Were they missing something? Was this property really as good as it seemed? After all, we all agreed, it was hands down, the best property we toured on Monday. So why were they so fortunate to have their favorite still available? Hadn't anyone else loved that same property?   All along I had been communicating with the listing agent. They had indeed, received offers. In fact, the first offer, before we showed it, had come in with a protracted closing date. The sellers simply weren't interested in waiting that long. A second offer had been presented, but the agent who presented the offer turned out to be so aggressively difficult the sellers chose not to work with his buyers. He blew it for them. That's another story for another day.   Then the snow squall blew in Tuesday morning and the listing agent said that three buyers had canceled their showings. Only one showing still stood, scheduled for early evening.   We ended up being the third offer. We offered just before noon on Tuesday and set an acceptance deadline of 6:00 PM that same day knowing there was that other showing at 4:45 PM--just enough time for someone to sneak in and make an offer to compete with ours, though it would be tight. But what were the chances they too would love the property? Apparently pretty high becuase they did, in fact, try to get an offer in before our Acceptance Deadline. At 5:56 PM the sellers signed our offer and the other folks missed out. This listing had in fact, received 4 offers in 48 hours!   I share this story because it's a real life scenario of what's going on in some areas of our local market. People are ready to move this spring. These homes were priced between $740,000-840,000. The same price range that struggled to move last fall when mortgage rates blew past 8 percent.   In the end, we were saved by a snow squall and the market seems to have melted all the snow away…just in time for another not-quite-spring weekend. What happens later this spring…or if rates were to fall?

    Read More
  • Elevate Your Home Search: Tips and Etiquette at a Showing Appointment

    Elevate Your Home Search: Tips and Etiquette at a Showing Appointment,Matt Thomas

    Since its premier in 1999, HGTV's House Hunters has racked up some 232 seasons. Hopefully I don't have to tell you that like all reality TV, much of the series is fantasy concocted for entertainment. But has the damage been done? It seems there's no one who hasn't seen at least several of the 230+ episodes—and it's ruined them! House hunting in real life is nothing like they depict on TV, especially not on that show. But it still should be fun and stress-free. I think home shopping should be considered an American pastime. From window shopping for homes online to jumping in the car with a REALTOR, Americans love to dream about their dream homes. Still the question remains, has anyone taken the time to review with you the purpose and objective of a showing? Do you know how to handle yourself and your family at a showing? What buttons can I press or drawers can I open? And do you know what to bring to a showing or what NOT to bring? Or are you of the opinion that any monkey can be trained to open doors for you and point out the kitchen and bedrooms? Allow me break down for you in easily palatable bullet points some aspects of the showing that we feel shouldn't be missed or misunderstood: The Purpose of a Showing Compare one home to another Identify your lifestyle priorities & deal-breakers Learn to work together through collaborative communication Find the right property Make an offer Your main focus should remain fixed on the goal of the showing—to find the right property for you that fits and supports your intended lifestyle. Staying focused can not only expedite your search journey, but also help you maintain clarity as you consider one of the largest purchases you'll likely ever make personally. Behavior in a Home It's imperative now, perhaps more than ever, to refrain from touching everything in someone else's home. Not only should we be a bit more mindful of germs these days, we also don't want any liability trouble for being an unruly guest in someone's home. While many homes you'll see are vacant, many are still occupied by the homeowner or tenants. When they step out, they do that to allow you a chance to investigate for yourself what it would be like to live in that home. Their belongings often add depth, warmth and character to a space, but keep in mind that you're there to evaluate the spaces that will remain after all of the personal property has been removed. Opening doors and drawers is a reasonable thing to do if they're part of an item, such as a cupboard, that will remain behind after a sale. Dresser drawers, for instance, should be left alone as they are personal property and not typically part of a real estate sale. For more on what's considered an inclusion or exclusion in a real estate sale follow this link. Remember this is someone else’s home and they’ve allowed us to come see it. Refrain from perusing or touching seller’s personal items Be respectful of the seller’s home & belongings, culture & lifestyle choices within their own home Mind basic manners Children should remain in your sight at all times All members in your parties should remain in a group Expect that you are being listened to. Refrain from sharing personal information, speaking ill of the sellers or their home, or sharing negotiation strategies. Many sellers now use cameras and listening devices for security and to obtain information for negotiating to their advantage Discuss negotiations and offer details outside of the home or after we’ve left the premises You may feel like you've got a good idea of what to bring with you to a showing. For the most part, do what's intuitive. It might make sense to you to bring something to take notes on—there's usually one per couple who's geared this way. But, have you considered how difficult it can be to move freely in and out of the homes you're seeing with your agent without the right shoes? Seems simple, but that's a tip that's often overlooked. There are several other things I could list here, but these are the most important: What to Bring Wear shoes easy to slip on and off, especially in inclement weather Wear comfortable clothing Something to take notes (notebook, tablet) Water & snacks to keep you going between showings Tape measure—because there's always something you want to measure Folder to keep brochures, info packets gathered & tidy Notes you've already compiled about particular properties Map & directions, in case your phone doesn't work in the area Hard hat if you're exploring new home construction, sun hat if you're exploring acreage Lastly, while the dreaded COVID seems to be behind us, there are etiquette and protocols that have been adopted following the recent pandemic. While most agents no longer require showing parties to wear PPE, it just makes sense to be sensitive about your health when entering someone else's home. If you're sick, stay home. And, why not use hand sanitizer after each showing? That's rhetorical. You should. You definitely should. It also no longer makes sense to bring anyone who isn't a decision maker along with you to a showing unless you have your little ones who need to be under your care. Besides, the old addage of "too many cooks in the kitchen" applies. Having mom, dad, uncles or aunts there offering well-intended advice, can often confuse you and lead you to second guess your own instincts. If you're the one who's saved and scrimped, and eaten ramen when you could've had steak, just to save extra $, don't let someone else make your homebuying decisions for you. You deserve to do it yourself! As always, trust your agent to guide you through the process. Here at the Altitude Group, our experiences have led to more refined systems and processes to care for you along the way. Give us a call and let us elevate your next homebuying journey.  

    Read More
  • Prepping for Success: 8 Tips for Mastering Virtual/Remote Showings as a Savvy Homebuyer

    Prepping for Success: 8 Tips for Mastering Virtual/Remote Showings as a Savvy Homebuyer,Matt Thomas

    In today's real estate market, virtual/remote showings have emerged as a convenient and efficient way for homebuyers to explore properties. With the assistance of a real estate agent, you can now view homes from the comfort of your own space. To ensure a successful virtual/remote showing experience, proper preparation is key. In this blog post, we will guide you through 8 best practices for preparing for a virtual/remote showing with an agent, empowering you to make informed decisions while exploring potential homes. Communicate and Coordinate: Effective communication with your real estate agent is vital when preparing for a virtual/remote showing. Coordinate with your agent to determine the preferred video conferencing platform and ensure that you both have a clear understanding of the showing's agenda and time frame. This will help streamline the process and avoid any confusion during the virtual tour. Define Your Priorities and Criteria Before the virtual/remote showing, take the time to define your priorities and criteria for your future home. Consider factors such as location, size, layout, amenities, and any specific features you desire. Share this information with your agent so they can tailor the virtual tour to focus on properties that meet your needs, saving time and effort. Research Properties Ahead of Time To make the most of your virtual/remote showing, conduct thorough research on the properties you'll be viewing. Review online listings, property descriptions, photos, and virtual tours if available. Familiarize yourself with the neighborhood, amenities, and nearby facilities. This knowledge will allow you to ask targeted questions during the showing and make informed decisions. Prepare Questions and Concerns Prepare a list of questions and concerns in advance to address during the virtual/remote showing. Ask about the property's condition, age of major systems, recent renovations or repairs, and any potential issues that may affect your decision-making process. Having a well-thought-out list will ensure that you gather all the necessary information during the virtual tour. Assess Technology and Internet Connection To have a smooth virtual/remote showing experience, verify that your technology and internet connection are reliable. Test your device's audio and video features, ensuring they are in proper working order. Check your internet speed and stability to minimize disruptions or buffering during the showing. A stable and fast internet connection will help you fully engage in the virtual tour. Be Present and Engaged Treat the virtual/remote showing as if you were physically present in the property. Be punctual and ready to participate actively. Take notes, ask questions, and request additional close-ups or specific views when necessary. Pay attention to the agent's guidance and directions throughout the virtual tour, as they have valuable insights to offer. Request Additional Materials If there are specific aspects of the property you would like to examine further, ask the agent to provide additional materials. This could include floor plans, additional photos, or any other relevant documentation that will help you visualize the property in more detail. By requesting these materials, you can gain a comprehensive understanding of the property's layout and features. Follow-Up and Review After the virtual/remote showing, take the time to review your notes and impressions. If you have any follow-up questions or require further clarification, reach out to your agent promptly. This will ensure that you have all the necessary information to make an informed decision. Bottom Line Preparing for a virtual/remote showing as a homebuyer requires careful planning and effective communication. By following these best practices, you can maximize the value of your virtual tour with an agent. Clear communication, defining your criteria, thorough research, and active engagement during the showing will empower you to make informed decisions when selecting your dream home

    Read More