By Cristen Lincoln, April 1, 2021
Our architect client was getting ready to close on a lot to build on, when the most amazing mid-century home came on the market in the same coastal neighborhood as their lot. This new listing was not only an architectural gem, but boasted views of the horizon and ocean waves, and was so perfectly situated amongst the mature trees, that it felt like a tree house. With floor to ceiling windows all through the main floor, the light was streaming in and the forest was just an extension of the home. Switching gears quickly, we set about getting strategic. We all knew a home this special was going to get an emotional reaction from many buyers, and it would be competitive. When strategizing under these circumstance, buyers have a few decisions to make. First, how much do they love and want to make this place their home? Second, is it an investment, where the math is driving the price, or is it a place to make memories and create a home? Third, how long term of a home might this be? If you are planning to sell in the next 3-5 years, you shouldn’t necessarily plan to make money on a house unless you are buying one that needs improvements and has room to build equity.
In the current market, buyers have to “overpay” to win. This sounds scary, but it’s the reality. These buyers had lost out on quite a few places prior to locking up this beauty (I think it was meant to be that way, this place is by far the best home they looked at and one of the coolest places I’ve had the honor to help someone buy.) A year into the process, prices that seemed unreasonable at the beginning, now looked like bargains. Lesson learned. It’s tough to come out swinging, especially for a second home, when you have just entered the market and are still getting a feel for how things are going. But, hindsight is always 20/20 and by now they could see that if they had just “overpaid” a year ago, the appreciation would have already caught up to them, plus they would have had an extra year in their beach house.
They pulled out all the stops on this offer, and came out on top! Just by the skin of their teeth, but those small nuances to writing a competitive offer really make a difference, and they won! I’m very much looking forward to visiting this magical home again when we hand over keys. They are looking forward to a summer of beach life and we couldn’t be more happy for them!
Cristen Lincoln
Cristen Lincoln
Principal Broker | Earth Advantage | Business Development | OR
She/Her
Cristen has been a Portland real estate broker since 1993, giving her an exceptional understanding of the industry and the local market. She was born here, grew up here, and raised her own family here...
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- T: 503-260-2414
- cristen@livingroomre.com
