A Great Realtor is so Important!
Last month we closed escrow on our Palm Springs vacation home–and it was not without its challenges. It was one of those Murphy’s Law deals…almost everything that could go wrong, did.
I just wanted to give full props to
Michael Layton of Keller Williams Realty who, without whose diligence, the deal would have fallen apart. Michael also has an awesome website with many helpful tips for buyers and sellers.
Be sure to check him out here:
Palm Springs Sales Doubled in the Spring of 2009 vs. 2008
The market turned the corner in the Spring of ’09 and suddenly everyone was buying in Palm Springs–Banks were backlogged with new bank-owned home Agreements as well as applications from people wanting to refinance and take advantage of new lower rates. Escrow companies were just as backlogged. And when you are buying from a bank in a market on the upswing, there just isn’t room to negotiate. You have to be happy with the deal you get. The bottom line is that we were able to persevere in large part because we had such a savvy and experienced Realtor–who kept us laughing through it all with his great sense of humor!
Unique Aspect of Viewing Bank-Owned Homes
One of the other unique aspects of buying in a bank-owned home market is that banks typically don’t pay for electricity, so you can only view homes in the daylight. I expect that this means limited viewing times in the summer as well, because it is just too hot to go viewing homes after 1:00 or 2:00 in the afternoon and banks aren’t going to be footing the bill for air conditioning in foreclosed homes. We did try to go through one home at night with the light from our Realtor’s cellphone – but as you can imagine, it was pretty hard to see anything!
Good luck to all the home buyers and sellers!
Posted by Palm Springs Vacation Pad on 6/26/2009