“Location or Price?”

“Location or Price?”



A Realtor referred a prospective client this morning to discuss a mortgage. The specific loan that he wanted to address was a FHA 203 K.


The main discussion was that the home they are interested in was not in the best location and after the work that needed to be done it would make this home the highest priced home in the neighborhood. I’m sure the Realtor was concerned about an appraisal.


The challenge for this family is that they are a very large family and they could buy a home in this price range in a better location. I could see this as a real life issue and a decision that many families have to make.


They are currently paying nearly $1700 for rent and a mortgage payment after the renovations are done will be under $1300 per month. In discussing location with the client, they already live in the immediate area and think the area is just fine for the family. I am going to do everything I can to get these folks into the home they want to purchase in spite of all the challenges. Would you do anything different?


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 27 commentsJoe Petrowsky • September 22 2015 11:09AM


Hi Joe.  Location is not important to them.  Not much you can do about that.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 5 years ago

Good morning Joe - when a buyer has their heart set on a house, you're the man who can help them get it!

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) almost 5 years ago

Hi Joe.  It's not our choice to make.  They have been advised of the potential issues and if that's the direction they want to go, I would support them 100%.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 5 years ago

We consult with our clients and stress that the house can always be changed but not the location. If all facts were presented and values given in this neighborhood and the client fully understands that this house is not an investment, it is a lifestyle. Their choice ultimately.

Posted by Elisa Bruno-Midili, NYS Licensed Associate Real Estate Broker, Cafe Realty 914.230.0650 (Cafe Realty) almost 5 years ago

Good morning Joe.  After explaining the differences and my opinion ultimately the final decision is theirs to make.  If they are set on the purchase my next job is to help them all I can to get that home.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) almost 5 years ago

Joe, your role is to provide financing which you can do well. They make the location choice. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 5 years ago

Good morning Joe. You always do your best and don't substitute your preferences for others needs. Well done.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 5 years ago

When home buyers really know the community and are comfortable with it, they will be making the location decision. They may enjoy the pride of having the nicest home in the neighborhood.

Posted by Roy Kelley (Realty Group Referrals) almost 5 years ago

Joe, I try to be careful about redirecting people from areas they want to buy into...unless there is a toxic dump or something health wise...I do say that values have not gone up in an area so carefully do my job.  Some want to live where they want to live.

Posted by Ginny Gorman, Homes for Sale in Southern RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 5 years ago

Good morning Joe Petrowsky,

The decision a buyer makes of where and what house is not yours to make. Yours is helping them 100% to obtain the loan and that's what your committed to do for them! Hope it goes well! 

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) almost 5 years ago

Good morning Joe,

We cannot steer them into another area.

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) almost 5 years ago

As long as they know what they're getting into, the choice is theirs. That's a big decrease in monthly payment!

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) almost 5 years ago

If a house is priced right for the location , hopefully it will appraise.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 5 years ago

All anyone can do is advise...whether the advice is taken is a whole different issue.

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) almost 5 years ago

Can't tell them what to do, only to guide them the best you can...

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 5 years ago

As you have shown many times Joe you give your clients the best information and guidance possible to any given situation.  With that info given and understood you have let clients make what is the best decision for THEM.  Make it a great day and good luck in a successful transaction for you and your clients.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 almost 5 years ago


Everyone has their preferences, and know what is best for them.  As usual, you od a great job. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) almost 5 years ago

Joe Petrowsky No. The customer is king. They know what they want and where they want to live. Real estate agents need to understand this before they screw up a deal by trying to "steer" the client to some other area.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 5 years ago

Joe - no I wouldn't. Not unless taking this more together would put them under water in terms of resale.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 5 years ago

Joe they live in the area so they know it well.  It is their choice so I would do everything I could to make that happen.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 5 years ago


The customers have to make a tough choice between location and price. Keep in mind that they have a long term decision. It will down to making the choice for what's best for the family.

Good luck and success.

Lou Ludwig


Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 5 years ago

Hi Joe Petrowsky ,  I'm with you on this one.  If that's what they want, then I would do my best to see that it all works out.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) almost 5 years ago

Joe Petrowsky I know you always work in the best interest of your clients....and this time, it's no different.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) almost 5 years ago

I'd say: best location for what you can afford. One of the primarily motivations for a first time sellers is: moving to a better location.

Posted by Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Calabasas CA (Barcode Properties) almost 5 years ago

Hi Joe --- we advise but we don't decide.  It's their money, their choice.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 almost 5 years ago

I wouldn't do one thing different Joe. If they like the area and know the outcome I would work hard to make it happen too.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 5 years ago

I always discuss the re-sale possibilities with my home buying clients. If they are comfortable in the location of their choice then so be it. We can not redirect anyone to other locations.

Posted by Sussie Sutton, David Tracy Real Estate for Buyers & Sellers (David Tracy Real Estate) almost 5 years ago