What Do You Need To Offer On a House? (Plainview: for sale by owner, co-op)
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The market has definitely changed in the past year. I've noticed that houses are being snatched up quicker today than they were just a year ago. I spoke to an agent that told me that the housing market is on fire in Nassau county. Lots of cash offers and listings lasting less than a week.
You'll see a lot more houses come on the market in the next few months. Hopefully you find something and get it when it's available. Just be aggressive and consider getting a new agent if necessary.
is "your agent" acting on your behalf as a "buyer's agent" or is just a realtor who's showing you homes?
Regardless, while it's nearly impossible to time market peaks...if homes really are selling for way over asking right now it might make sense to sit on the sidelines for a while and see where things are in 6-12 months.
That doesnt sound right..can you switch realtors? Are you looking at houses where the seller priced it really low on purpose ? Something is fishy.. we bought in N. Bellmore and offered $30K below ask and got the house. When we made the offer, the house had only been listed for 2 days on MLSLI. No bidding war. Granted, we had more than 20% down (closer to 50) so we were looking at homes under our budget. Initially prequalfied for up to 650K but no way I wanted to be mortgaged up to my eyeballs so we looked at homes in the $400-600K range. We had bidding wars for houses in Baldwin and Williston Park but only because those houses were part of estate sales or were obvious fixer Uppers. (The one in Baldwin was on a cul de sac and a spacious 5 bedroom/2.5 bath Center Hall Colonial listed at only 389K, it ended up selling for 460K). It took us about 6 months of aggressive searching/bidding to find our house. We started in October 2015 and found our house in March 2016. Keep searching, your house is out there!
A lot has changed since 2015-2016. Something fundamentally changed over the past 12 to 18 months. It's absolute insanity.
is "your agent" acting on your behalf as a "buyer's agent" or is just a realtor who's showing you homes?
Regardless, while it's nearly impossible to time market peaks...if homes really are selling for way over asking right now it might make sense to sit on the sidelines for a while and see where things are in 6-12 months.
He is acting on my behalf, he presents the offers, talks with the real estate agent showing the house etc. I'm thinking of doing that. I'm just worried it'll get even worse. It's been gradually getting more and more insane for years.
Quote:
Originally Posted by blernard
A lot has changed since 2015-2016. Something fundamentally changed over the past 12 to 18 months. It's absolute insanity.
I know, people are out of their minds. One house in Wantagh sold for 70k over asking. It wasn't even that nice. Wantagh is on another level of insanity, everyone and their mother wants to move to Wantagh.
He is acting on my behalf, he presents the offers, talks with the real estate agent showing the house etc.
I get that, but do you have a signed agreement stating that they are working on your behalf as a buyer's agent? If not, they're not actually working on your behalf.
I get that, but do you have a signed agreement stating that they are working on your behalf as a buyer's agent? If not, they're not actually working on your behalf.
I never signed anything, so I guess he's not. I'm not even sure what all that means, I'm a first time home buyer. The experience hasn't been so great so far lol.
We worked with a buyers agent and one reason we got the house was because of her. She corresponded the offer very well and added some personal information about us. What we did and a little about our family.
We did have good financials but my husband didn’t see the house so buyers were hesitant he wouldn’t like it. She persuaded them we were serious buyers and this was exactly what we wanted.
Before signing a contract with her we had a meeting to make sure she knew our needs and we were on the same page.
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