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.
I was thinking of selling and talked to an agent and have been looking for quite awhile thank God I have been looking and my house ain't ready yet.
I learned if an agent wants you to sign a contract with a stipulation that says you have to lower the price DON"T SIGN.
The houses are selling so cheap because people are signing these contracts and they are making is sound like it a one time down grade but they will lower the price till the house sells and you signed the contract.
You wouldn't have to lower the price if there were any buyers willing to pay the higher one.
No one can force you to sell your house for a price lower than you want to. Granted, you might never end up selling at the price you do want, but that's a different problem.
Back in the good ole days the longer you stayed in your home the more equity you had in your home. Now adays equity has nothing to do with it. The good ole days the longer you stay and if you took care of your home or did upgrades the better, kind of like a retirement type of thing for folks. Now adays no retirement because you give your home away, no matter how long you stay in the home. I read a report most people stay less then 10 years in a home. So if you stay longer the more equity you build up in a home. Of course we all know when buying a home it takes many years to pay off the first 15 or 10 years is nothing but interest you don't pay on the loan per say till over 10 or more years. Now adays they want you to give you home away no matter what you put in the home or how long you have lived in it.
Don't sign a contract that locks you into lowing the price even if he/she makes it sound like a 1 or 2 time lowering. DON"T sign I repeat DON'T SIGN.
I bought over 10 years ago and interest rates were high which means I am just now getting in to the principle I don't have that much in my home. All I can do is wait it out or upgrade.
I don' t mean retirement as in a sense of using a home as retirement money. But in the sense of pay it off and that bill is gone or resell and buy where you want to retire. (That type of nestegg) Either do the same in an area you want to live or upgrade to a nicer home for retirement.
Actually putting it at exactly $200K is even better because everything now is drop down box filters. $200K gets people looking up to $200K and people looking up from $200K. At $199,900 nobody filtering on $200K and up will see it.
...The houses are selling so cheap because people are signing these contracts and they are making is sound like it a one time down grade but they will lower the price till the house sells and you signed the contract. ...
I think there may be other reasons for the drop in home prices . I'm willing to bet that the vast majority of listing contracts do not have a requirement to lower prices. As mentioned, you never have to sell at a price you don't agree with. if you don't want your listing contract to have automatic price reductions, then don't sign it.
I think there may be other reasons for the drop in home prices . I'm willing to bet that the vast majority of listing contracts do not have a requirement to lower prices. As mentioned, you never have to sell at a price you don't agree with. if you don't want your listing contract to have automatic price reductions, then don't sign it.
Yes I just talk to anther agent and he said the ones that mostly sell by dropping the prices are owned by the banks. I said he ain't treating my house like a banked own property. He said it is also getting a bank to finance these home are really hard as well.
I decided to wait anyways maybe a few years..
I wish you luck with selling your home. As for me I would never drop to dang low because that drives everyone in the neighborhoods prices down. And why would I give my house away. I wouldn't buy before selling some may have already bought then move and need to unload the homes also. I would wait till selling then look. But you could miss out on a home. And the banks sells want last forever but they will be around for awhile I would think. He said they ain't even looking at upgrades right now.
In your case if you can't afford the payments you may have to drop if you don't have that problem hold out even during the huge resell era it took longer then a few months to sell a house. Depends on your situation I guess. I'm in can't afford to buy unless selling so I would hold out and not let an agent tell me other wise.
And even if I bought then sold and no credit problems still couldn't play two mortgages.
I have a larger interest rate and owe more on my home so noway I wouldn't be making that dang much.
I was thinking of sell and I tell you what I wouldn't lower the price on my home they might ask for less and I may accept but no way I was going to lower my home. Alot of these homes look like they are one price then the agent tells you, you gotta bid on the home. It isn't really the price listed so in actually once someone has looked at one they realize my home is the better value and less headache.
However I would of bought a home in a nice neighborhood. I was looking at Belle isle in Florida but air planes are the biggest problem there. Noise issue. But I can put up with noise over crime. Conway area is best without the noise. But I wanted to move to Belle isle because it is closer the where I use to live and my friends I grew up with as well. Yes most have moved but still live not far from the area. Most of belle isle is a noise issue some better then others. The better homes have noise damming in them but when you are outside it can be a real issue during the day.
Last edited by Starlady01; 11-07-2010 at 02:50 PM..
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.
. I'm willing to bet that the vast majority of listing contracts do not have a requirement to lower prices. As mentioned, you never have to sell at a price you don't agree with. if you don't want your listing contract to have automatic price reductions, then don't sign it.
