By Drew Burchette, October 1, 2019
People tend to have an emotional attachment to their homes. And, as you might expect, this gets tied into their perception of value. My client Howard really liked this home in Wilsonville. He knew the area very well (mostly because he had a rental on the same street) and felt that it was overpriced. The comps and time on market confirmed his instincts. We put an offer together that was fair market value in my opinion. The sellers were so insulted that they didn’t even counter. Oh, and I forgot to mention that they purchased the house just 18 months prior and put a ton of money into it. Yes, it was much more livable than before, but the improvements were not exactly dollar-for-dollar in actual value.
We let it rest for a week or two and then followed up with another offer slightly stronger than the previous to get the contract locked up. At the end of the transaction, it was a win-win for all parties…it just took us a little extra time to get there. The moral of the story: don’t put a bunch of money into your home if there is a risk that you may have to move in less than 2 years. There are exceptions, of course, but that it a good rule of thumb.
Drew Burchette
Principal Broker | OR
I arrived in the real estate business over a decade ago and have since helped scores of people buy and sell their homes.
The groundswell that I created in my practice is rooted in the relationships that I have nurtured over the years. My style is educational, and I see myself as the coach and leader of your real estate transaction. My coaching is geared towards empowering you to make informed decisions that will lead to your best possible outcome. I excel at asking the questions that get to the heart of the matter which in turn enables a smooth sale process.
Away from the office I am passionate about so many things, but it all begins and ends with my family. My boys are both in elementary school and parenting is an ongoing challenge and joy for my wife and I. We love to travel around Oregon, the East Coast, Mexico and beyond. My passion for surfing, kiteboarding, and fishing help to keep me grounded in life.
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