Blog Buyer When Patience Wins

When Patience Wins

By Kim Parmon, August 7, 2020

My friends, we are in a strange real estate market.  On the one hand, it’s normal to see homes fly off the market in multiple offers and close 20% or more above asking price.  On the other hand, you can have your pick of most of the condos in Downtown PDX.  It can be confusing to navigate if you aren’t used to doing it every day.

My client had his eye on a bank owned fixer property for awhile.  It had already been on the market for months when we went to take a look at it.  It was charming and had great midcentury lines.  He wanted to write an offer, but what should he do?  Yes, the home had been on the market for months but the market was so hot that he was worried about having to compete.  We came up with a number that he was comfortable paying, which was 28k below asking (almost a full 10%).  I wrote the offer and we submitted it to the bank!

And then we waited.  And waited.  Annnnnnddddd waaaaaaaaaiiiiiiiiiittttttteeeeedddddd.

It’s normal for it to take some time for a bank to respond but this was ridiculous.  My client started to get nervous.  He wanted to go back to the bank and up his offer to make sure he wouldn’t miss out.  I told him to keep waiting.  I checked in with the agent and she let me know that there were no other offers in, the bank was just taking their time.  So we continued to wait.  My client called me once a day to tell me to bump his offer up and once a day I told him “I can do that if you really want me to, but I don’t think you need to.”  And every day he decided to hold off.

Finally, we got the news: the bank had accepted his offer with no counter!  My council saved my client $15,000.  Having an agent who knows the market is worth it!

 

Kim Parmon

Principal Broker

Kim is the first person who will tell you she never expected to be a Realtor. She's had many creative jobs in the past and spent years as a high-volume bartender-turned-bar owner, which she feels gave her an essential skill that translates beautifully into her career in real estate: the ability to juggle 1,000 things at the same time while keeping everyone calm! She became obsessed with buying a house after the market crashed in 2009, finally buying her very first teeny-tiny dilapidated bungalow as a short sale in 2011. She and her husband, Matt, spent a few years fixing it up, then sold it for a profit and bought another project. And then they did it again. And the rest is history! Kim's talent for finding diamonds in the rough has made her into one of Portland's most sought-after investment Realtors. She loves seeing the missed potential in properties and has all kinds of tricks up her sleeve to find great investments but this talent is equally useful when it comes to traditional buyers and sellers. When you buy a home with Kim's assistance you can be sure that she is looking at all angles of the purchase to make sure it aligns with your financial goals as well as your lifestyle and she will stop at nothing to make sure you are taken care of! Some of her clients think she's gotten their offers accepted through sheer force of will! When you list a house with her she will go above and beyond to present your house in the best possible light to make sure you maximize your return on investment. Above all else, Kim prides herself on her integrity and believes that everyone deserves a caring Realtor partner who truly listens and tries to do what's right for her clients, even when no one is looking. She is thrilled to call this beautiful city home and can't wait to help you make your dreams come true through real estate.
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  • T: 503-438-5101
  • kim@livingroomre.com

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