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Health & Fitness

18 Caffe Mochas Cost Us a Laguna Beach Home!

A sad lesson to be learned when you are buying a Laguna Beach home or any home for that matter.

I’m still kicking myself for what I did. You’d think as a Laguna Beach real estate agent I’d know better. But uh-uh. For the equivalent of eighteen Caffe Mochas, I lost the Laguna Beach home of my dreams. That’s right. I was in your shoes, Mr. and Ms. Buyer. And I stumbled big time. Ouch! I still can’t believe it!

Me and my fabulous man "Mr. M" (I need to keep his name anonymous for obvious reasons) had decided to buy a Laguna Beach home. As an agent, I knew the market already had bounced up from the bottom, and that interest rates would be climbing after the election -- no matter who won. It was now or never. “OK, sure, you go find us a home,” Mr. M suggested in ‘get-her-off-my-back’ style. “It’s Sunday. I’ll keep watching the Yankees kick butt

I dove into the MLS and found what I thought was perfection. A real charmer -- gourmet kitchen, single story for my lazy bones, and get this -- it came with a bridge (in China red!) leading to a Jacuzzi. And the price was $929,000 -- right in our budget.

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Bubbling with excitement, I pulled my loving man away from his Yankees and whisked him to my dream castle. “Honey,” I exclaimed, “just look at that bedroom and how romantic it is with those French doors open and the cozy fireplace. Yummy!” I already saw myself baking banana bread in the exquisite kitchen, graciously serving the treat to my darling as he lay in bed gazing at the flowering magnolia tree in the backyard. I felt the gentle caress of warm waters as we lounged in the Jacuzzi, counting the stars of the Milky Way. Mr. M seemed agreeable. But being a methodical government employee, he waited from Sunday until Tuesday to render his opinion – “That home would be nice,” he expounded. (Men, please tell me what you mean by the word ‘nice’!)

I called the seller’s agent to check on the status of the property, specifically probing to find out if any offers were in the works. Proudly, she responded that there were two. I, being a master negotiator, picked her brain to ascertain the dollar value of these offers. Knowing she wouldn’t divulge the exact amounts, I snuck in sideways with a loaded question: “Are they over $900,000?” She said “no”.

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Side Lesson: If you have this kind of price level information and really want the house, make your offer over $900,000, NOT under. This all but guarantees you’ll beat the competing offers and come away with the prize.

But did I follow my own advice? Incredibly, no! I was now a buyer, and caught up in the buyer traps -- just like anyone else. Therefore, I wasn’t about to pay any more than I had to. We offered $890,000.

As it turns out, all three of us buyers were in at roughly the same price. Unfortunately, our offer came in last. The sellers accepted offer number one (which is the general rule of thumb), took a back up with offer number two, and wrote Hillary and Martin a beautiful Dear John letter saying ‘thanks but no thanks.’

I’ve never been more hurt! The rug had been pulled right out from under my feet! I wouldn’t be smelling the sweet aroma of banana bread baking in my kitchen, nor feeling the warm caress of Jacuzzi water as I soothed myself beneath a canopy of glittering stars. Me, the great and experienced agent had allowed the ultimate dream home to slip through her fingers. Yes, I had stumbled straight into a buyer trap.

And it can happen to anybody. So never, EVER marry yourself to a home before your offer is accepted. Believe me, I’m still feeling the sting of disappointment.

So take the advice of someone who learned the hard way. If a home grabs you, be proactive and write the darn offer! If there’s more than one offer on the table, make sure yours is the very best. If I had written an offer for $910,000 instead of $890,000, that dream house would be ours. By trying to save the equivalent of 18 Starbucks Caffe Mochas per month, we let it get away. But hey, at least we can sip a lot more coffee.

Actual Dear John Letter from Seller

Don’t make the same mistake as I if you’re shopping for a Laguna Beach home. Even if you have an agent, call me for advice from somebody who’s lived through this heartbreaking experience – in the dual role of agent and buyer. I’ll be happy to help in any way I can. (949) 922-8490

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