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Pricing are remaining steady, which is excellent in this market. More importantly, very few concessions are being made. There are also a lot of cash sales for the homes, mainly from empty nesters that are downsizing.
I'm curious what the stats are on how much buyer closing costs are paid by the seller. (Seller Contributions to the Buyers closing cost?) It was mentioned as ~3% a few posts up, is this the norm these days?
I'm curious what the stats are on how much buyer closing costs are paid by the seller. (Seller Contributions to the Buyers closing cost?) It was mentioned as ~3% a few posts up, is this the norm these days?
FHA loans are capped at a max 3% seller contribution. I find that most sellers will contribute to the buyer's closing costs including banks owned properties. Some properties sell for more than list price but when you look at the sales figures you see that the seller added back the contribution to closing to the sales price. It is all about bottom line or net.
I think it is situation specific. Depending on the type of loan, sellers motivation & need, they may or may not pay the closing cost. I agree with Rivudu, it depends on bottom line.
Oh my gosh!!! Please don't tell me they want to build more apt complexes on Woodruff Rd.
Goodie goodie. Just what Woodruff Rd. needs. The more traffic the better!
I wonder if apt complexes are in more demand now because of the foreclosures and short sales and people not being able to get loans to buy homes. They don't have any other choice but to rent. I wouldn't be surprised if rentals become more expensive now because of the demand.
I also wonder if building a new home is cheaper also....not sure but maybe this is why newer homes are going up? People maybe can't sell pre-existing homes because they won't make much if any money with all the foreclosures and short sales out there. I could have sold mine but I wasn't willing to sell it for what I bought it for 7 years ago. Realtor told me I was lucky I didn't have to sell and that I didn't have to take a loss. She said so many sellers had to sell and bring money to closing. Ouch! I decided to just keep my house for awhile longer and see if things improve.
Last edited by diddlydudette; 03-18-2012 at 11:21 PM..
Oh my gosh!!! Please don't tell me they want to build more apt complexes on Woodruff Rd.
Goodie goodie. Just what Woodruff Rd. needs. The more traffic the better!
I wonder if apt complexes are in more demand now because of the foreclosures and short sales and people not being able to get loans to buy homes. They don't have any other choice but to rent. I wouldn't be surprised if rentals become more expensive now because of the demand.
I also wonder if building a new home is cheaper also....not sure but maybe this is why newer homes are going up? People maybe can't sell pre-existing homes because they won't make much if any money with all the foreclosures and short sales out there. I could have sold mine but I wasn't willing to sell it for what I bought it for 7 years ago. Realtor told me I was lucky I didn't have to sell and that I didn't have to take a loss. She said so many sellers had to sell and bring money to closing. Ouch! I decided to just keep my house for awhile longer and see if things improve.
The new apartment complexes on Woodruff Road are further down towards Lauren's Road. Most the traffic that backs up occurs past Roper Mountain Road towards i-85.
Oh my gosh!!! Please don't tell me they want to build more apt complexes on Woodruff Rd.
Goodie goodie. Just what Woodruff Rd. needs. The more traffic the better!
I wonder if apt complexes are in more demand now because of the foreclosures and short sales and people not being able to get loans to buy homes. They don't have any other choice but to rent. I wouldn't be surprised if rentals become more expensive now because of the demand.
I also wonder if building a new home is cheaper also....not sure but maybe this is why newer homes are going up? People maybe can't sell pre-existing homes because they won't make much if any money with all the foreclosures and short sales out there. I could have sold mine but I wasn't willing to sell it for what I bought it for 7 years ago. Realtor told me I was lucky I didn't have to sell and that I didn't have to take a loss. She said so many sellers had to sell and bring money to closing. Ouch! I decided to just keep my house for awhile longer and see if things improve.
Did ya HAVE to post a picture with a 1975 Ford Maverick in it??
I wonder if apt complexes are in more demand now because of the foreclosures and short sales and people not being able to get loans to buy homes. They don't have any other choice but to rent. I wouldn't be surprised if rentals become more expensive now because of the demand.
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They are. All rentals are in high demand and the prices have skyrocketed. There are several articles popping up about it; most recently from the asheville citizen times saying rental rates have risen by ~4% in asheville. Another that says Greenville is THE toughest rental market in the country.
I have been looking for a nice rental for under 1000 a month that allows dogs for over a year(paying way too much for the crummy house we had to settle on due to time constraints). Anything in that price range is falling apart, in a bad location, gross, and old. Its extremely frustrating. If I had a permanent job (which I don't due to being on a gov. contract) it would be much much cheaper for me to take a risk and buy a house. I could easily get a mortgage payment around 600-700 dollars a month on something new and/or nice. Very upsetting and stressful.
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