In real estate, we talk a lot about market value, and, that's important. It's important to buyers, and sellers, not to mention, banks.
But, there is another kind of value, something more personal, that we place on things, maybe especially on our homes. And, sometimes, that is far more important than anything else.
I think this year, more than any other, has highlighted that value difference.
Home prices are rising fast, and much of that can be explained by economics ~ low inventory, high demand, etc. But, this week, for me and my clients, was a huge lesson in paying for what you need, when you need it.
In two different scenarios this week, the buyers were at a point where they NEEDED to buy. With offer competitions, it's tough to find that sweet spot that will win the bid, but, not put themselves in a position where they've succumbed to the frenzy of winning at any cost.
As an agent, it's my job to calculate market value to help determine an offer price. But, that's really just the baseline. As a human, it's sometimes more important to figure out what that second value is ~ that value that speaks to the safety, security, and comfort of having a home in the right place, with the right amenities, and at the time it's really needed.
Sometimes, as it did this week for my clients, that personal value blows the market value out of the water. And, that's OK. If this year has taught us anything, it's that quality of life is the most important thing.
But, there is another kind of value, something more personal, that we place on things, maybe especially on our homes. And, sometimes, that is far more important than anything else.
I think this year, more than any other, has highlighted that value difference.
Home prices are rising fast, and much of that can be explained by economics ~ low inventory, high demand, etc. But, this week, for me and my clients, was a huge lesson in paying for what you need, when you need it.
In two different scenarios this week, the buyers were at a point where they NEEDED to buy. With offer competitions, it's tough to find that sweet spot that will win the bid, but, not put themselves in a position where they've succumbed to the frenzy of winning at any cost.
As an agent, it's my job to calculate market value to help determine an offer price. But, that's really just the baseline. As a human, it's sometimes more important to figure out what that second value is ~ that value that speaks to the safety, security, and comfort of having a home in the right place, with the right amenities, and at the time it's really needed.
Sometimes, as it did this week for my clients, that personal value blows the market value out of the water. And, that's OK. If this year has taught us anything, it's that quality of life is the most important thing.
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