OVERPAY A LITTLE..REAP BIG REWARDS LATER

When I bought my house that I currently live in there were 11 offers on the property.  I was terrified to overpay for the house.  I knew it was a good house in a good area and had great potential.  

So…I countered with a much higher offer, a bit more than I was comfortable with, and I won the bidding war.  Looking back today, the price of my home has tripled in seven years, I receive significant income every month from my tenant and I have a very low interest rate. I am so happy emotionally and financially, that I made that decision. 

It’s OK….don’t be afraid to overpay a bit for the house you really want. The buyer who pays the most, ALWAYS, wins the bidding war, and when you go to sell your home, if there was a bidding war when you bought it, there is a great chance there will be one again when you sell and some new buyer will probably be just as scared as you were to overpay. 

Finally, it's important to remember that buying real estate is not just about the purchase price. The cost of owning a property includes property taxes, maintenance, and any potential improvements. Overpaying for a property may be worth it if it means having a property that is in good condition and requires less maintenance in the long run.

In conclusion, overpaying for real estate can be a good decision if it is done for the right reasons and with a clear understanding of the market conditions and the property's value. It's important to remember that real estate is a long-term investment and to evaluate the potential future returns when making a purchase. It's always wise to consult a real estate agent or a financial advisor before making any decisions. 

We deeply appreciate the trust and partnership you have extended to us. As some of the best realtors in Los Feliz and Greater Los Angeles, the Riley Real Estate & Home Mortgage team is dedicated to assisting you in discovering your dream home in the beautiful neighborhood of Los Feliz and surrounding Los Angeles areas.  We eagerly anticipate the opportunity to serve you in buying, selling, investing and mortgages and earn our reputation as a top realtor and make your real estate aspirations a reality.

Best,

Riley Schmidt