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You can use Zillow for targeting recent sale prices, it's listed right on the site. Good stuff. You can also use http://msweb01.co.wake.nc.us//realestate/search.asp (broken link) to pull accurate tax data, sale history of the specific property, as well as sales on the same street. I'm sure it's the same source data that Zillow uses but is a bit more verbose.
But the real answer is get a Realtor to do all of this work for you. Costs you nothing and they're the experts. They can pull comps easily which is the best gauge for actual sale price.
I have found with new construction, zillow is not reliable. My street on Zillow isn't anywhere near where it actually is! Plus, many "values' are pre construction. Once the house is complete, the value of that "space" increases dramatically.
Quote:
Originally Posted by beatchbag
I'm not sure how accurate Zillow is, but here's an example with my $250,000 price I mentioned:
Zillow puts its "Zestimate" at $214,103. The Zestimate takes into consideration a number of factors, but it's not necessarily the best tool. But interestingly, if you look at that Zillow link and move a bit southeast to the yellow-flagged 100 Arrow Head Way, you'll see that it recently sold (that is, a real number) for $175,350, while that house's Zestimate is $215,000!
So using my example, that Keystone Dr. house could go for even less than the Zestimate!
Again, there could be a number of factors involved. The inside of the Arrow Head house could have been awful, or the seller was looking to move quickly enough that he didn't care what he got.
So it's curious. I'd like to hear what others have experienced.
Unless you put in a ridiculous offer, it's not insulting. Someone put a low offer in on the house we were selling (very low). We weren't insulted--we realize that this is, generally speaking, a buyer's market these days. We jsut went back with a counter which was very close to our original asking price. That basically told them to ante up or they weren't getting the house. We weren't offended though--heck, it was worth it for them to try!
You should be commended for having this attitude and handling the offer this way. It's hard to separate emotion from your home and what you think it's worth. But you did not get emotional & weren't offended. KUDOS to you!! There should be more sellers like you! And buyers too.
(Assuming all goes well) We'll be paying 98.6% for ours, but from the sellers' point of view it's 96.4% after closing cost help and a carpet allowance. We had one weekend to shop and really loved the house so we weren't going to go crazy trying to under-offer And we're very happy with the closing cost $ we're going to be getting. I'm glad I read up on this forum before we went house shopping b/c I had a realistic expectation of what we would be offering on a home. So I didn't even look at houses above our comfortable price range (ok well maybe 10k over hehe) since I knew we'd be paying close to asking price.
It is so far off sometimes that it is a joke. It just got alot of press because someone high profile was involved with it. Used the wake county site and or a realtor.
(Assuming all goes well) We'll be paying 98.6% for ours, but from the sellers' point of view it's 96.4% after closing cost help and a carpet allowance. We had one weekend to shop and really loved the house so we weren't going to go crazy trying to under-offer And we're very happy with the closing cost $ we're going to be getting. I'm glad I read up on this forum before we went house shopping b/c I had a realistic expectation of what we would be offering on a home. So I didn't even look at houses above our comfortable price range (ok well maybe 10k over hehe) since I knew we'd be paying close to asking price.
I think we are a bit odd that we paid 100% of asking....however, it was appraised at over the asking amount, it was PERFECT for us and the builders agreed to add a bottom deck to the existing second floor deck/balcony, as well as all our closing costs were paid by our company that moved us here.
Houses in the neighborhood are going for 96% to 100% of asking price since then.
Typically if a home is priced right...it sells for about 98% of asking price. If a home isn't priced right and the other homes in the neighborhood are selling within 30 days and that one isn't, it isn't priced right. Yes, the market does change. But not on a daily basis!
If a builder gave you a bottom deck and it cost him $3,000...you didn't really pay 100%.
I've had builders that have alot of inventory give you more off but if a neighborhood is selling like crazy, they'll give you $1,000 to $2,000 for closing costs and thats it.
Thats why you do not wander into new construction without your agent! She knows what the market is doing, knows the incentives the builders are paying and knows the comps.
I've had builders that have alot of inventory give you more off but if a neighborhood is selling like crazy, they'll give you $1,000 to $2,000 for closing costs and thats it.
Thats why you do not wander into new construction without your agent! She knows what the market is doing, knows the incentives the builders are paying and knows the comps.
Vicki
We got the deck because there were offering free closing costs if you used their morgage guy...he did give us the best deal...and since our closing closing costs were already paid.....they hedged their bets.....lol.
Dear me I shouldn't really care.......there is a chance we may have to move for a job offer...and well....I don't want to ever leave this house....certainly not for a cold climate and a market where I couldn't buy what I have now. This house is too perfect for us. Sigh....colour me maudlin at it all these days. Sorry.
I've come to adore North Carolina and the Triangle....more then I have any other place....including my hometown and overseas....I don't care what growing pains we are going through.
that on existing homes, they are going for 98% of asking price. Certainly some homes are hot and in hot neighborhoods, but it has been constantly repeated on this forum how existing homes are less desirable than new and therefore are "discounted" to some extent. It seems that in Cary, older homes in the 5-20 year old range are being discounted. Comments?
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And we're very happy with the closing cost $ we're going to be getting. I'm glad I read up on this forum before we went house shopping b/c I had a realistic expectation of what we would be offering on a home. So I didn't even look at houses above our comfortable price range (ok well maybe 10k over hehe) since I knew we'd be paying close to asking price.
zillow is a joke
