The Bay Area is a magical place in California where you get the beauty of Northern California while still getting to experience the thrills of living in the city. The combination of these two things makes it the most expensive place to live in the history of anywhere. Well, probably. But seriously, rent will cost you $2,000 and up in San Francisco (not joking) and, unless you’re willing to live in an area where your chances of getting shot or assaulted are about as high as the chances of your train being late, that’s about what the rest of the Bay Area is too.
Unfortunately for us, we may have lost our recession window. We were approved for our loan at the beginning of January, and I kid you not, that very night we saw an announcement on the news that IN REAL ESTATE HISTORY BAY AREA PRICES SKYROCKET 35% IN THE MONTH OF DECEMBER!
So instead of all the good deals I was seeing in previous months, I now send listings to my real estate agent and ask, “Do you think they’ll take less?!” And she says, “They already have 15 offers over asking.” And then I make another martini.
Since I know my chances are a little low, I’ve been trying not to get emotionally attached.
I kind of suck at this.
My latest strategy has been to submit 4-5 offers a day with the thought of, if I can’t remember what I’ve put offers on, I won’t be able to get attached!
To be honest though, I don’t know what terrifies me more – getting a house or not getting a house. It’s like courting a tiger – sure tigers are beautiful and everyone wants one to fall in love with them, but they are also expensive and sometimes unexpectantly bite your hand off.
I’ve actually heard recently that there’s a new strategy that people are using to convince sellers to take their offers – writing “love” letters. I’m not really sure how to write a love letter to a bank-owned home, but I think it would go something like this:
Shall I compare thy house to a windfall share?
Thou art more human and more charitable:
Rich bidders do beg the darling houses brokered,
And recession’s fare hath all too short a life:
Sometimes too hot the eye of greed shines,
And often is his green soul dimm’d;
But thy eternal character shall not fade
If thou lose possession of that house;
So long as as thou sends it benevolently to my hands.
And in case they aren’t moved by real estate poetry, I’ll include a picture too. I might need to borrow someone’s baby if we don’t look desperate enough.