Real Estate Snipers
Frequently I'm asked by clients whether they can bring a friend or family members to see a house they're considering for purchase; often, during the escrow period. To which I always respond in the affirmative. The support and approval of friends and family is an important thing, sometimes a necessary thing--particularly when la suegra's footing the closing costs. Everybody's going to spend time in the new house right?
Still, there are those friends that act as snipers. Mostly they fit into three categories.
A) The DINC's: double income, no clue. They've got ample means of support, a swank hillside pad, and a frayed connection with the real estate realities of common folk. They think themselves well-meaning: they want good for their friends. Only their idea of good comes in a zip code or a price range that just isn't accessible without a bank heist.
B) Retired hound: a recent home buyer, only not too recent, who's idea of the market is frozen in time. They're sure your client can do better, if only they look longer. After all, their Venice casita was only $415K--in year 2001!
C)The BB's: better than their britches. Frequently renters, who cling to some ill-deserved self-worth based on their entrenched presence in a neighborhood in which they could not afford to buy, generally made possible by mama rent control. They resent the intrepidity of their homie, trolling the buyer's beat, and the sorts of latte-less neighborhoods in which they'd never consort. Maybe they're afraid of losing their friends to the home-buying cabal. Maybe they resent their own meager stakeholding being laid so bare. Either way, if you're a block too far south, if a car three blocks away is parked on a lawn, or if a newsstand with European dailies isn't within walking distance, the ruling is thumbs down.
Still, there are those friends that act as snipers. Mostly they fit into three categories.
A) The DINC's: double income, no clue. They've got ample means of support, a swank hillside pad, and a frayed connection with the real estate realities of common folk. They think themselves well-meaning: they want good for their friends. Only their idea of good comes in a zip code or a price range that just isn't accessible without a bank heist.
B) Retired hound: a recent home buyer, only not too recent, who's idea of the market is frozen in time. They're sure your client can do better, if only they look longer. After all, their Venice casita was only $415K--in year 2001!
C)The BB's: better than their britches. Frequently renters, who cling to some ill-deserved self-worth based on their entrenched presence in a neighborhood in which they could not afford to buy, generally made possible by mama rent control. They resent the intrepidity of their homie, trolling the buyer's beat, and the sorts of latte-less neighborhoods in which they'd never consort. Maybe they're afraid of losing their friends to the home-buying cabal. Maybe they resent their own meager stakeholding being laid so bare. Either way, if you're a block too far south, if a car three blocks away is parked on a lawn, or if a newsstand with European dailies isn't within walking distance, the ruling is thumbs down.
Labels: Real Estate Rants
posted by Adam at 6:57 AM | Permalink
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