Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Oops - I'm laughing too...and here I thought I was being kind in sharing my selling experience with them!!! I guess I better be looking at post dates from now on
OK have to add my 2 cents here or is that $500k to $550k here. As long as your are getting traffic you have the potential to sell. Simple as that. You just have not had the right buyer to come through yet! In the 27587 zip code their are 23 other homes competing with yours. What makes yours the one?
1. Homes over $500k are taking time to move. Doesn't matter if they are on a golf coarse of have 25 acre retreat on them. Over supply at the moment.
2. Heritage competes with Wakefield in the WF area for Golf coarse homes. So if the buyers are in the WF area you have little direct competition unless they step up to Hasentree or sometimes called Hasenanydoe. So that is a plus for you.
3. On the Buyer side as other posters have stated from personal experience people are not coming with the suitcase full of money they us to from LI NY and Ca.
4. Your home will sell eventually for some price. As Kenny Rogers says key is to know when to hold em and when to fold em. 4 months seems like a hold at this point. Will pick up again in the spring!
5. Keep the faith and it will sell and at the end you are still living in a great community in a beautiful home!
I just started getting more showings on my home...but I am in a rush to sell....I am building a home and I am ready to move. Does lowering my price equal more showings? Any other advice?
I'm in the 500-550K range. To the person who mentioned Apex, are you in a golf course community as well?
To the person who purchased the new home, I understand that some people just prefer new. I would argue though that for investment purposes a resale at a better price (new construction in this neighborhood tends to cost more) is a better bet in the long run and requires less money to get settled (like blinds, landscaping, and the many other adds that home owners do which really add up). In Heritage I've also noticed that the newer homes have less upgrades than the original homes did here and usually less lot size. Plus their further from the pool, golf club, etc. . But it's all in what makes you happy. I have to believe there are others out there like me who prefer a resale of 5 years or less for all the extras. I hope you enjoy your new home in Heritage. It is an awesome neighborhood and had my husband not decided to take a promotion which requires us to relocate, can't imagine anywhere else I'd rather live in the triangle area.
We just bought back in May moving back into the Raleigh area. We bought in Cary for around $300K. We tried to steer clear of new homes, even though the incentives were tempting. We feel like we made a great deal by buying a home with established landscaping, extra features the other homeowners had added (including expensive wood blinds), and beautiful paint and wallpaper throughout that we loved. We purposely looked for a re-sale home for this reason. However, I do know many people that really don't want someone else's home if they can avoid it. I realize that it is just a matter of preference. I do think we made even a better deal possibly since there was new construction right here in this area which many people go for, just not us.
We just had our first house hunting weekend after recently arriving in the area. I was pleasantly surprised at how affordable everything was. I had assumed that I could not afford what I wanted in Cary but I could not have been more wrong. Wakefield and Apex also had great bargains.
Hard to tell which way the market is going to go from here but there are definitely some downward forces - high unemployment, expiring tax credit, end of season. Not to mention the awakening economy could result in an increase in interest rates. I think there are going to be some very good deals in about 6 months time.
Then again, others may say the market has bottomed out and now is the time to buy! (heard that a few times over the weekend).
Which do you think will bring more buyers...Lower the price by x dollars OR use x dollars to put towards buyers closing costs?
My opinion - lower the price.
Mortgage providers may not even let you put dollars toward closing costs. They see it like this - you are selling your house for $200,000 and offering $10,000 towards closing costs. So you are really only getting $190,000, hence the value of the house is only $190,000. But the mortgage will be based on the $200,000 number.
FHA still allows this kind of seller's concession but I would avoid FHA buyers if at all possible.
Mortgage providers may not even let you put dollars toward closing costs. They see it like this - you are selling your house for $200,000 and offering $10,000 towards closing costs. So you are really only getting $190,000, hence the value of the house is only $190,000. But the mortgage will be based on the $200,000 number.
FHA still allows this kind of seller's concession but I would avoid FHA buyers if at all possible.
Some good advice.
Except the FHA part.
There is no reason to avoid qualified FHA buyers.
There are too many FHA buyers out there to ignore them. Someone else will take them anytime.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
