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8 Steps for Ruining Your Future

Posted by Johnine Larsen on February 25, 2016
| Buyers, General Interest
| 0

8 Steps for Ruining Your Future

  1. Treat the current real estate market as the new status quo. Convince yourself things won’t ever change. Tell yourself prices will always be this high, and inventory will always be this low.
  2. Panic when you see a hundred people at an open house. Just freak out. Start worrying that you’ll never be able to get this house, and that you’ll never be able to get any house. Ever. If you can, hyperventilate.
  3. Forget the careful plan you developed with your real estate agent. Make an offer impulsively. You need this house. Right now.
  4. Keep ignoring your real estate agent. It doesn’t matter that the house was already listed high. You can pay extra. How much can “value” and “long-term investment” matter, anyway?
  5. Make the bidding war personal. If you lose the war, what does that say about you? An extra $100,000 loan is worth avoiding a hit to your pride.
  6. Celebrate. You bought a house!
  7. Cry. You lost all your equity. You made one of the biggest investments of your life on an impulse. Your credit will tank when the market changes in two years, and you won’t be able afford to move for another ten years. Maybe fifteen. Cry a little more. Eat some ice cream.
  8. Console yourself with the knowledge that at least you aren’t alone. Think about the listing last month that got only two offers but still sold for $53k over asking. Remember the 1,000 sq ft home that escalated by $85k. Tell yourself at least it isn’t as bad the 2-bedroom house in Ballard that went for $158k above asking.

 

2 Steps for Saving Your Future

  1. Calm down. Relax. Remind yourself that the real estate market will change. It always has, and it always will.
  2. Find a real estate agent you trust, make a plan based on your specific goals and unique financial situation, and stick to your plan. Don’t give into panic. Buy a house you can afford, and don’t pay more than it’s worth. Make a good investment. Or, to put it simply: Talk to us.

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    soumak ghosh
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