Go | New | Find | Notify | Tools | Reply | |
| Just because you can, doesn't mean you should |
My wife's a Realtor here in north GA and it's the same crazy stories. If you need to move or just want to and can find somewhere to move before you sell (so you don't end up homeless and have to rent or try to build), go ahead. If the marked goes up more or crashes, it does it to all. I wouldn't want to be a first time buyer or have a big mortgage now as that's the danger zone if things go south. ___________________________ Avoid buying ChiCom/CCP products whenever possible. | |||
|
| Member |
Find a Buyer's Agent! They cost you nothing and will often negotiate for you. They're YOUR AGENT. | |||
|
| It's pronounced just the way it's spelled |
Arizona is just as bad. A friend decided to go back to PA, so he sold his home, a 3 bedroom 2 bath ranch on about half an acre. His real estate agent suggested he list it at $700k, he listed it at $900k, and it sold for $920k in two days. He had to ask for a couple of months to move out, because he didn’t think it would go that fast. That was several months ago, and things have just gotten crazier. Another friend wanted to put a 200 sq ft workshop addition on to his garage. He was quoted $40k! It is all insane. | |||
|
| Needs a check up from the neck up  |
Well about that.... in Florida 99% of agents are transactional agents. They do not have a fiduciary duty to you. That comes as a surprise to basically everyone. Same thing for listing agents. Look at your listing agreement and see what type of agency they are creating. It's worth 30 minutes with your real estate attorney prior to signing the listing agreement, not just the contract. I can't tell you how many agents I have seen screw their own clients. Not put stuff on the MLS so they can find their own buyer and get both sides of the commission. Or find the buyer but due to commission structure, they would get a lower split if they have both sides, so they have another agent in their office bring the buyer, then they pocket the higher amount and just pay off the other agent to use their name on the contract. It's a messy world and the numbers are big, make sure you have an attorney. __________________________ The entire reason for the Second Amendment is not for hunting, it’s not for target shooting … it’s there so that you and I can protect our homes and our children and and our families and our lives. And it’s also there as fundamental check on government tyranny. Sen Ted Cruz | |||
|
| Just because you can, doesn't mean you should |
[/QUOTE] Find a Buyer's Agent! They cost you nothing and will often negotiate for you. They're YOUR AGENT.[/QUOTE] The problem is that there is very little inventory in most markets, and if something has anything close to a reasonable price, multiple bids right away. Reasonable price is a moving target too. I've never seen a rise in prices this fast. Even back in the Jimmy Carter days, the interest rates dampened the demand, as they should in a somewhat free market. The government is manipulating them now so badly that that natural control has gone away. Also, many are being sold now for cash. A serious correction has to be out there somewhere. ___________________________ Avoid buying ChiCom/CCP products whenever possible. | |||
|
Member |
OP here; I do have a buyers agent. She is the bomb. She is going to neighborhoods and knocking on doors for us. There is one house we LOVE. She knocked on their door last Friday. Owner answers, she introduces herself, says she has a family looking for a home and theirs was one we like very much, have they considered selling. The owner says, "As a matter of fact, my wife and I have been talking about moving. I will speak with her when she gets home." A few hours later, wife texts our agent, over 24 hours with some back and forth texts, we are seeing the inside of the house this Friday and they are willing to listen to an offer. One of my good friends is a real estate attorney, so he is doing our closing and has also checked over our contracts. I think we have done all the right things. Now pray for me that this house on Friday is as perfect on the inside as the outside and that the owners are willing to take a reasonable offer. | |||
|
| Member |
Good luck! I always wondered how often cold calls worked on someone selling their home. You will have quite the story about how you came to be the owners in your home if it works out! | |||
|
| Get my pies outta the oven!  |
What you consider to be "reasonable" and what the seller might consider to be "reasonable" may be FAR different... | |||
|
| Shit don't mean shit |
A neighbor of mine did this about 5 years ago. His daughter lives in our neighborhood and he was moving to CO from FL. His daughter is a real estate agent. He couldn't find anything he liked. He saw a house he thought he would like, but wasn't listed for sale. I think he wrote them a letter, and they contacted him a few days later. he now lives in that house, about a a mile from his daughter and grand kids. Worked out well for him! | |||
|
| Member |
Hah! I considered that as I typed reasonable in my post. A home two doors down from this one sold in October for $241 per sq ft. So we have a very, very good comp. Talking strategy with our agent later today, but I think I am going to come in with a first offer at around $275-$280 per sq ft. That offer should be large enough to let them know I am serious. | |||
|
I Deal In Lead |
Houses must be a lot cheaper there than they are here as that would be a losing offer on any house in my area. And the way most houses are going here, you only get one offer and the house goes to the highest bidder. Good luck. | |||
|
| Thank you Very little  |
Good luck, if you win, post up the SF gathering date for a schmoke and a pancake meeting! | |||
|
| As Extraordinary as Everyone Else  |
My youngest sister (55yo) has been bitten by all the stories of people selling their homes and making a killing….BUT if she were to sell she has no place to go in this tight market. She thinks that she will rent for a year or two and pick something up after the market crashes… The problem is several fold. First they haven’t taken care of their home nor have they done any upgrades in the 20 years they’ve lived there. Formica counter tops, worn carpet etc.. you get the idea. There is no way she’ll get 700K likes she thinks she will in NH.. The second issue is that her youngest son will graduate HS this year..Don’t you think she should at least wait until he graduates?? Give the kid some stability for God’s sake. She is an IT engineer and works mostly from home. Her company is in Portsmouth. My BIL works in MA off 495. They are talking about picking up a place close to the ocean…good luck with that.. ------------------ Eddie Our Founding Fathers were men who understood that the right thing is not necessarily the written thing. -kkina | |||
|
| Thank you Very little |
Rents are astronomical, however theres the thought to make hay while the sun shines, and it's shining on prices, who knows about values as COVID rules start to wane, mandates stop, will people stop moving out of the oppressive states up north to the south as we see now, or will the migration continue. Guess it depends if Covid resurfaces or some other virus or reason to sequester people to some extent rears it's head | |||
|
| Member |
Rents are astronomical. I had multiple people say "Rent for a while." Ummm, OK, but rent on a dump would be $2,500, twice my current mortgage. It doesn't make sense. And then they said "Yeah, but the market will crash." Ummm, there is zero inventory. The market might slow down, but it cannot crash when there is nothing out there to purchase. | |||
|
| I Deal In Lead |
They're building condos and houses in my town and some other nearby areas like crazy. There must be thousands of them in progress. | |||
|
Corgis Rock |
My daughter’s house was owned by a couple that were on a bridge loan. They wanted to sell to save money on the loan and priced it accordingly. The agent listed it at 11 AM, we saw it at 8 PM and faxed a full price office before 11 Pm. They accepted the offer next day. I later found that multiple offers had been made. At closing the agent mentioned that if the sale fell through she had multiple offers ready to be made. Where we were lucky is the they forgot to turn off the burglar alarm. It went off while we were there and so we got to meet the owner when they shut off the alarm. “ The work of destruction is quick, easy and exhilarating; the work of creation is slow, laborious and dull. | |||
|
| Get my pies outta the oven! |
Well around here rents have gone waaaay up and rental units are virtually impossible to find. My BIL sold his house back in summer of 2021 and wanted to rent for a couple years. He ended up settling for something far out of the area he wanted and for easily twice the rent he had planned on paying. | |||
|
Fighting the good fight |
Same here. Even crappy rental properties have high rents and huge deposit requirements (stuff like 3 months rent up front plus a $2k security deposit), and still have dozens of people mobbing them with applications. | |||
|
Member |
Oh the market 'can' indeed crash. Just depends on a number of factors that haven't totally fleshed themselves out yet. Long story short, the market absolutely will 'correct' at some point specifically because of the completely unrealistic market prices as well as a number of economic conditions that are likely to show up at some point. ----------------------------- Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter | |||
|
| Powered by Social Strata | Page 1 2 3 4 5 |
 | Please Wait. Your request is being processed... |
|
© SIGforum 2024