Thursday, March 18, 2021

I love a good puzzle?

In the early days of "stay home, stay safe" my daughter and I did a fair number of puzzles.   I have always loved puzzles; jigsaw puzzles, crossword puzzles, sudoku and real estate puzzles.  I think that's why I like working in real estate so much as there are lots of real estate puzzles.




Here are a few examples of real estate puzzles.

When you need to sell your house, to buy your next house; Navigating this depends on the tolerances of the client; can they stand the stress of two transactions at once?  Would they be better off selling, renting for a bit and taking time to find their new home?  Does the idea of moving twice drive them mad?  Solving this puzzle is about tolerances and the market.  

When you have a certain amount of resources (time and money) to fix up the house for sale; what projects need to be done from a repair point of view, what projects bring the most return,  what projects will appeal the most to potential buyers?  

We want a rental unit how do we best do that; build an ADU, add an addition to our existing house, keep our existing house as a rental and buy a new home, buy a rental.

Real estate puzzles are made up of many pieces:  the dwelling, neighborhood, condition, size, resources of buyer/seller, household and life pressures (new baby, aging parent, job relocation).  Also in play are market conditions, interest rates, economy, school districts, local property and income taxes, local regulations regarding tenants, energy efficiency zoning and use etc.  

Don and I have been grappling with a real estate puzzle for a few years (puzzles aren't always solved quickly). That puzzle is how to downsize to a dwelling capable of one story living, energy efficient (we're nerds that way), with room for his tools and building materials.  We have a variety of resources, though not unlimited, one of which is Don's ability to build or fix most anything.  

There are plenty more real estate puzzles, some solvable and some not.  I'm always glad to discuss your particular puzzle. We may conclude it's not solvable at the time, may identify some things to work on to help solve it, or might even solve it neatly and quickly. What kind of real estate puzzle have you been working on?



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