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Compassion as Currency in Sonoma Home Sales

Kirsten’s Sonoma Real Estate Report

Compassion as Currency in Sonoma Home Sales
By Kirsten Lindquist.

Emotions are running high in today's real estate world.  Sonoma Buyers and Sellers are edgy.  Mortgage brokers are working 24/7 to deliver hard-to-get loans.  Folks at the title companies are processing far too many escrows that fall apart before closing.  And even though we usually won't publicly admit it, real estate agents are feeling a bit stressed, too.

It's a rarely easy these days to complete the sale or purchase of a home in Sonoma.   Raw emotion is not conducive to rational decision-making. That said, it's front-and-center in many home sales today.   A little compassion can have great value to both the buyer and the seller of a Sonoma home.

Just about every seller is upset about a three-year decline in property values.  Some 20-percent of Sonoma sellers today are facing short sales or, even worse, the possibility of a foreclosure on their home.   Intense feelings like anger, shame, and fear are common in distressed home sales.  Non-distressed sellers are unhappy that they have to price their homes to compete with screaming deals the banks are offering to unload the properties they now own.  It's almost a given that a home for sale today is being sold by a disgruntled seller.

It's also true that dollar-conscious buyers are searching for "Deals of the Century."  They fear paying too much for a house they might be able get for less --- if they wait just a bit little longer.  But there's a shortage of inventory so they also feel pressure to buy.  The unstable economy, the skittish stock market, and uncertainty about mortgage rates only add to the tension and anxiety many buyers are experiencing.  And, when a buyer finally finds the Sonoma home they love, they might learn it's a cash only purchase while they can only offer lender financing.  Sometimes they discover the seller is on the verge of a short sale and to buy the place they might have to pay more than it will appraise for.  That's pretty nerve-wracking.

Anger. Shame. Worry. Unhappiness. Tension. Fear.  Emotion has always played a part in residential real estate sales but in my lifetime it's never been as prevalent as it is now.  

Selling Sonoma homes in the current market requires compassion and understanding on the part of all involved.  Agents and other professionals need to remain aware of the current of emotions that add complexity and greater challenge to navigating to close of escrow. Buyers and Sellers need to know that today --- more than ever --- it's in their best interest to treat one another with respect and compassion.

Compassion is a valuable new currency in real estate.  When we treat one another well we achieve success in several ways.  Shaky sales are consummated to everyone's benefit --- if not financially, then emotionally and psychologically.  Perhaps most important of all --- we feel good about who we are as human beings.

Want to know more about real estate in Sonoma, Glen Ellen, Kenwood, Petaluma, Santa Rosa, Sebastopol, or Healdsburg?  Call me.  I will listen carefully and answer your questions with the straight talk you deserve.

Kirsten Lindquist
Pacific Union International
707.337.1182
kirsten.lindquist@pacunion.com
www.SonomaIsHome.com