Home prices going UP? (2009, foreclosed, mortgage)

[MysteryMT]

I started a new thread earlier but it's already gotten buried, so I'll ask my question here - It also deals with the OP's question/topic:

The house they have listed in Heritage Green on Celestine was a house I was initially interested in and did three visits over the 2/21 weekend.

It was initially listed at 199K and was told they had wiggle room, I was hinted at around 195K.

Now two weeks later it's showing as 209,842. Is that cause the 8K rebate to first time home buyers? I guess I don't understand how in this market a house jumps 14,842 dollars in ten days in a neighborhood that has 20-30 houses for sell and multiple properties available to rent.

Plus, using the search engine on CD I saw two threads about the HOA or lack there of. Is this a highly desirable area, or good schools, or simply the builder trying to cover losses via the stimulus bill? Any thoughts.

[HomeSweetHomeNY]

DH horton homes are also going up.. for some strange reason.. and they keep sending us emails asking if we're still interested. Does a price increase keep anybody interested???!!! I don't get it.

[emagine]

Why are you building new when there is so much inventory on the market.

For us in our situation we knew exactly what space we wanted in regards to rooms. We knew how much we had to spend and what we did not want to spend. We knew the city we wanted based on schools we researched.

Once we spent a lot of time with a realtor showing us house after house in our price range with a lot less space then we had to revamp our thoughts.

We got what we needed in space, a new house, new warrenty, much cheaper then what we wanted to spend in the beginning and it was something we had a choice in how it looked inside and out. That to us made all the difference.

Yes, as a home seller last year I understand. But as a home buyer you buy what fits you and your wallet and the houses in the area we were looking at just did not offer what we knew we could find if we kept trying.

Hope that helps. It sucks as a home seller, like I said I was there last year and sold our home in 7 mths. I know how hard it is and I feel for the sellers. But as a buyer you get what you pay for and the houses on the market lacked what a new one a lot cheaper with more space. Sort of like more bang for the buck lol.

[mrsclmn]

For me it came down to finding what I wanted in our price range. We looked at several resale home. Two resale homes we loved got snatched right out from under us in bidding wars. Another resale home I almost made an offer on, just was not QUITE what I was looking for. Other homes that I liked, ended up being short sales. When we inquired about it, we found out that someone had put an offer in on it two months prior and still had not heard anything from the bank...but we should feel free to put an offer in. I didn't want to sit around for MONTHS waiting to hear something on a short sale only to have them go with someone else's offer when they finally DID make a decision. I had been using realtor.com to search for home (and btw, that short sale we really liked is STILL listed as active) and saw a home in Woodbury that I liked. I didn't know it was a to be built home at the time. They only had ONE inventory home at the time (or so they said, cause now it looks like they have a couple) and we viewed it, and I wasn't that impressed. I walked through the Kelford model and it fit what I was looking for on every level. Even down to the upstairs laundry I wanted. I actually DID walk away the first time I went. The saleswoman tried to act like she couldn't care less that we were walking out, but as we were going to the car she came running out with the "I just got off the phone with my boss" line. I still went to the car. About a week later I was signing with $8500 in free upgrades and $3000 in closing costs to MY bank, not their CTX mortgage.

[amploud]

Still makes no sense to me.

The reason that house prices are falling is very simple: There are more available homes than qualified buyers. I can't imagine signing a contract to add yet another home to an oversupplied real estate landscape. If someone can't find what they are looking for in this market, they are way too friggin' picky or too timid to make "realistic" offers.

Why is it that so many people think they must have "exactly" what they want? As I recall, that's the kind of thinking that (partially) helped get us in this mess. Anyway, best of luck with the new house...

[gkleoni1]

Originally Posted by amploud

Still makes no sense to me.

The reason that house prices are falling is very simple: There are more available homes than qualified buyers. I can't imagine signing a contract to add yet another home to an oversupplied real estate landscape. If someone can't find what they are looking for in this market, they are way too friggin' picky or too timid to make "realistic" offers.

Why is it that so many people think they must have "exactly" what they want? As I recall, that's the kind of thinking that (partially) helped get us in this mess. Anyway, best of luck with the new house...

Excuse me but no I am not "way too picky"... I have any older father who I want to take care of and have to have a guest bathroom down. Also we have plans to do foster care or sibling adoptions so require a minimum number of bedrooms. I just did a search for the specs of my to-be-built home for the entire area of Charlotte, increasing the price we are paying by $45K and only found a total of 5 including mine, 6 if you include South Gastonia. Now increasing the price by $115K and there are more options. Although I am not too timid to make an aggressive offer, I am too intelligent and respectful to waste someone's time or my own. Why don't you try not using such blanket statements. Some people may fall into your category but not everyone. What I don't understand is why it is anybody's business but my own.

[Tober138]

Originally Posted by amploud

Why is it that so many people think they must have "exactly" what they want? As I recall, that's the kind of thinking that (partially) helped get us in this mess.

No - what got us into this mess was people getting in over their heads because they could not realistically afford "exactly" what they wanted, but managed to get loans to pay for it anyways.

But if "exactly" what one wants is within their realistic budget, why shouldn't they try to get that? For most people, buying a house is going to be their single, largest monetary investment - so why should they settle for something less?

[chicagocubs]

Well, if anyone is interested in LOWER housing prices, there are quite a few (unsold) foreclosures in my neighbourhood!!

[CouponJack]

Originally Posted by amploud

Why is it that so many people think they must have "exactly" what they want? ...

This is not like going to Lowe's Foods and deciding if you should get the Boars Head Turkey breast for 9.99/lb or deciding on something a little cheaper.


Very simple.

When you are making the BIGGEST purchase of your life, you should be extra picky.

[mrsclmn]

Originally Posted by amploud

Still makes no sense to me.
.

Why is it that so many people think they must have "exactly" what they want? As I recall, that's the kind of thinking that (partially) helped get us in this mess. Anyway, best of luck with the new house...

Really? did you REALLY just say that? People spending hundreds of thousands of dollars shouldn't get "exactly" what they want? Let's see...I'm 31, my husband is 42... we're no spring chickens. This is our first and possibly ONLY home. We're not looking to buy a new home every 4 or 5 years, since we'd like to have our home paid off one day, before we both retire. I don't plan on having more children but if I do, I won't have to up and move for lack of space. This is the most money we will spend on a single item in our life so ya damn right I'm going to get EXACTLY what I want. Yeah, I can see it now...me sitting around a resale home saying "Man, I really hate that carpet in the bathroom...I really wish I had a garden tub in the master bath... it's not SO bad lugging the hamper downstairs to do the laundry...I know I could have gotten everything I wanted, but at least this way, I didn't keep the builders in business by building a home!"