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[quote=annabanana123;51222262]We lost four houses in multiple offers situations going in over list. We finally got this one and it was honestly where we’re meant to be so don’t get too discouraged - it just means there’s a better house out there for your family. And on those that we lost we went in well above asking each time.[/QUOTE
Thanks for your encouragement. There today hoping to see one that was just listed last night and by noon today was under contract. Being 2hour drive doesn’t help.
Think you need to think outside the box to compete here with foreign investors and the masses coming in with cash. Unfortunately a conventional loan is not winning a bid it’s 10 to 15 over with flexible offers.
I’m learning fast it is a different animal vs what we have gone thru before. It will happen but as you say we will have to be creative . Thanks
[quote=DPK;51222649]Yeah you really have to be outside the box, which is what we found out super fast. I'd argue that 10 to 15 over could be setting yourself up for disappointment as well. If it's a house you really really really love, you have to go all out in this market.[/QUOTE
Yes I see we have a full time job ahead of us on this search. We will have to be ready to jump in head first when we find the one we want
this is VERY true. I would call ours a highly-fragmented market of agents. Yes, there are the obvious big companies, but we have more brokerages today than in 2006. A lot of people have jumped in to the market based on the ability to snag a few listings and rely on the speed of the market to cover up their lack of expertise.
I'd ask any agent I was considering 3 questions (Mike has a great thorough list, but this will weed out many, quickly):
1. Do you use professional photography? If not, show me your 3 most recent listings.
2. Are your listings syndicated to Zillow? (I know Mike will agree to disagree on this one, but it's too big of an elephant. No matter how hard I try, I still have clients that use it, and if mine do, I know the vast quantity of small brokers do).
3. Do you carry Errors and Omissions Insurance?
Mike syndicates his data to Zillow.
Yeah, naïve consumers reap what they sow from sites like that, but sometimes you gotta go along to get along.
Its honestly why my wife and I ended up buying new construction. Its such a sellers market the process of buying was not something we could handle...leaving work on a moments notice/bidding in high pressure situations knowing that if you don't do it that day you are most likely not going to get that house. Not something we wanted to be a part of.
So glad you feel my pain. Plus we are 2 hours away. Today we talked about buying preconstruction. Two I liked have a July and Oct complete date . So that plan sounds way better than the other nerve wracking race. However I’ve found some older homes that have been updated then poof contract the next day.
Imagine what it's like for people who can't afford new construction prices! (which in many areas of Wake County now starts in the 400s for a SFH)
Oh I understand as for a family it would be worse. We are only looking for 2 bedrooms with a flex room or bonus but if a family we would really be crazy then considering schools. Good luck
A FSBO sold down the street from me in the same time the full service house across the street sold for similar $/sq ft. They saved at least a few thousand.
"BUYERS AGENT ADD YOUR FEE"
We saw this same type of hysteria in 2006-2007 too. History tends to have a knack for repeating itself.
Keep in mind the biggest issue these days isn't prices it's lack of choice.
Yes as we are having problems finding master downstairs if not a ranch.
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