how much is reasonable for this new home? (Taylorsville, Murray: high schools, move)

[hueimo]

Originally Posted by wamamma

I agree with SoBelle. You really should get a buyer's agent, unless you can find another way to pull comparable sales on that street in the last six months. The market determines the price, not just the location. Supply and demand.... I live in a neighborhood where everyone has decided to sell. I would say 1 out of every 3 homes are for sale. That dictates the price as well as the size and quality of the home. Just a few blocks over, someone might get more for the sale of their home than they would on my street because so many are available. Therefore, it would be very difficult to get a good opinion from this board as to the value of that home. One or two streets away could change a price by tens of thousands of dollars.

Don't let the seller's agent bully you into not getting your own agent. You should really find out what they mean by "finishing" the basement. I agree with SoBelle, it is probably just a roughed in basement. Which means studs, roughed in plumbing, roughed in electrical. There is a certain amount that must be roughed in, dictated by code, anyway. I doubt that they mean they will sheetrock, mud, tape, and install lighting for that price. It just seems you would be better off with your own agent, even if that means they will not "finish" the basement.

m.thanks for the info, I don't meant to offend any agent here, but I really don't think a buyer agent would really stand on my side, I mean, no matter if it's the buyer or seller agent, they all want a share of the commission. who's really looking after the buyers? I really don't think so. also, is it necessary to get a buyer agent if this is a brand new home? I would get one if it wasn't brand new.

[wamamma]

Originally Posted by hueimo

m.thanks for the info, I don't meant to offend any agent here, but I really don't think a buyer agent would really stand on my side, I mean, no matter if it's the buyer or seller agent, they all want a share of the commission. who's really looking after the buyers? I really don't think so. also, is it necessary to get a buyer agent if this is a brand new home? I would get one if it wasn't brand new.

I agree about really wanting an agent on your side. I have bought two brand new homes. I used an agent with one and I didn't with the other one. And my agent wasn't great.... The reason I would recommend one here is because you're interested in the legitimacy of the value they are asking for. You really need to know comparable sales within that neighborhood to accurately determine that. If there is another way to find comparable sales, then go for it! There are several ways to find listing prices, but I don't know of a way to find sale prices other than through the MLS (which means an agent). Maybe someone out there knows how to do that.

[kwm03160]

Originally Posted by hueimo

m.thanks for the info, I don't meant to offend any agent here, but I really don't think a buyer agent would really stand on my side, I mean, no matter if it's the buyer or seller agent, they all want a share of the commission. who's really looking after the buyers? I really don't think so. also, is it necessary to get a buyer agent if this is a brand new home? I would get one if it wasn't brand new.

I built new with a buyer's agent. At first, I thought that the agent was getting a "free" commission. BUT, IT WAS WELL WORTH THE MONEY!! They fought the builder on some items, and worked with my mortgage lender to make sure that appropriate escrows were taken out at closing.

[hueimo]

Originally Posted by drsevrin

Olympus and Skyline High Schools have great reputations. I attended Olympus and found it to be first rate.

I have heard a few times that Olympus High School has good rep, but when I looked up their test score at this below link, the math scores seem to be kind of low. Could anyone explain why Olympus High School has such good rep?
Report Card for Olympus High, Granite District

[codymartens]

As a Realtor and a buyer's agent, I agree that there are many agents out there that do not do their job to the best of their abilities. There are also agents that do.

When you sign a contract with an agent, they now have a fiduciary responsibility to hold your best interests as their own. If they don't, there is recourse you can take.

I can tell you one thing. If you don't use an agent you have 100% chance of no representation whatsoever because you have chosen to go it alone. If you use a buyer's agent, there is at least a much better chance that you will have someone looking out for your best interests.

Additionally, if you don't use one, many times the commission that would go to your agent, the seller's agent keeps! And remember, they are working for the seller, not you.

There is little reason why a buyer would not use an agent.

I would be happy to assist you in selecting a home, but I work with clients who are willing to trust me and listen to my advice.

[hueimo]

Originally Posted by codymartens

Additionally, if you don't use one, many times the commission that would go to your agent, the seller's agent keeps! And remember, they are working for the seller, not you.

why is it that a seller's agent would tell me if I don't bring in a buyer's agent, I will have more space for negotiation or immediately they will decrease the asking price 3% lower due to them saving on the buyer's agent commission cost?

[codymartens]

Originally Posted by hueimo

why is it that a seller's agent would tell me if I don't bring in a buyer's agent, I will have more space for negotiation or immediately they will decrease the asking price 3% lower due to them saving on the buyer's agent commission cost?

Well, I said many times they will keep the commission. If they told you that they would lower it by the 3% then I'm sure they will. Not all agents, especially builder's agents will keep the 3% that would otherwise go to your agent.

Remember, when you give up that 3% you are also giving up the right to be properly represented and have no one working on your side to help you through the transaction. They will give up that money because their job is to sell the house for the builder, not to make sure you are taken care of. One of the many ways builder's agents entice you is by giving you that 3%. In the end though, to give up representation puts you in a scary spot.

[SouthernBelleInUtah]

YOu know the saying that a lawyer who represents himself has a fool for a client? I think a buyer who doesn't have a buyer's agent is also being foolish. Without either a lawyer or a buyer's agent, you have no one to look out for you. There are many ways to work the escrow, the title insurance, the places you go to ask for a mortgage (never take the builder's mortgage company), and various contingencies of the contract. It sounds like you are new to buying and you could get screwed big time w/o a buyer's agent. Even though I have bought 4 houses over the years and sold them profitably when I had to move, I would NEVER look without a buyer's agent.

[hueimo]

Originally Posted by SouthernBelleInUtah

YOu know the saying that a lawyer who represents himself has a fool for a client? I think a buyer who doesn't have a buyer's agent is also being foolish. Without either a lawyer or a buyer's agent, you have no one to look out for you. There are many ways to work the escrow, the title insurance, the places you go to ask for a mortgage (never take the builder's mortgage company), and various contingencies of the contract. It sounds like you are new to buying and you could get screwed big time w/o a buyer's agent. Even though I have bought 4 houses over the years and sold them profitably when I had to move, I would NEVER look without a buyer's agent.

I appreciate the warning. yes, I am very new on buying a house, very new to the market in SLC and also too young, too naive, so I thank you all for helping and providing me with all these helpful tips, that's why I'm asking so many questions even silly ones, please pardon me! *smile*

[Lmejh]

Originally Posted by hueimo

I have heard a few times that Olympus High School has good rep, but when I looked up their test score at this below link, the math scores seem to be kind of low. Could anyone explain why Olympus High School has such good rep?
Report Card for Olympus High, Granite District

Low compared to what? Just wondering

About the rep, well, it just does. It's sort of those things that accumulate over time, reputation. A part, but not all, of the reason is probably the fact that it's in an affluent neighborhood, East Millcreek. But the school has been there for quite a while (since the '50s I believe) so the reputation factor has just gathered over time.