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Old 05-10-2009, 01:57 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,647,069 times
Reputation: 3722

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Quote:
Originally Posted by anifani821 View Post
Agree - but only if the buyer really wants to negotiate! Look at Robin's situation - she is looking for a certain price point and if she can't get in a pre-determined range - she won't sell. So . . . sometimes properties are on the market a long time b/c the seller is not interested in negotiating - there is no real "reason" (such as relocation) for them to sell. If they get a suitable offer - they will sell - otherwise, they will just stay in their home (or - if an investment property - they will just continue to hang onto it).
she is not desperate, yet.

She is taking a big risk IMO waiting till next year (which I believe she says she has to be out by next June). Most likely prices will still be softer than they are now, thus making her take even less than what she could get now. Even if she gets a new MLS #, a good realtor will check the history of the home and sniff out what she is doing.....

Its happened here for going on almost 1-2 years now. There is nothing in the stats or anywhere showing prices will not continue to decline.

Personally, I wouldn't fool around like she is doing w/so much inventory out there.



Again, BIG risk she is taking by waiting.....
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Old 05-10-2009, 02:27 PM
 
7,126 posts, read 11,632,233 times
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Quote:
Originally Posted by anifani821 View Post
Agree - but only if the buyer really wants to negotiate! Look at Robin's situation - she is looking for a certain price point and if she can't get in a pre-determined range - she won't sell. So . . . sometimes properties are on the market a long time b/c the seller is not interested in negotiating - there is no real "reason" (such as relocation) for them to sell. If they get a suitable offer - they will sell - otherwise, they will just stay in their home (or - if an investment property - they will just continue to hang onto it).

Real simple answer Ani...She is NOT a seller. As I said yesterday her house is "Available". Big difference between "availaable" and "For Sale".In other words she's not in the game, not a player. Plain and simple.Only way she sells her house at her price is if someone comes along, didn't do his homework, doesn't read CD and makes a WHOOPS!
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Old 05-10-2009, 02:28 PM
 
1,379 posts, read 3,903,003 times
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Quote:
Originally Posted by CouponJack View Post
There are desperate sellers in the Charlotte market and there are sellers who aren't. If you are a buyer, finding out that information is like finding gold at the end of the rainbow....the bargaining power finding that out can save a buyer thousands of dollars.....
There are desperate sellers in every market, during every economic situation. There just aren't as many in this market as buyers think -- they've seen the news, read the papers, and watched the videos of collapsing housing markets, and they (erroneously) think the same applies in NC. So their sense of the downturn is exaggerated and blown out of proportion.

As to scouring the market looking for desperate sellers so you can pounce on them like a predator on wounded prey, I'm not into all that. I just want a nice to place to live at a fair price -- I don't need to suck the blood out them.
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Old 05-10-2009, 02:50 PM
 
Location: Lake Wylie, SC
622 posts, read 1,774,601 times
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Quote:
Originally Posted by johne482 View Post
Real simple answer Ani...She is NOT a seller. As I said yesterday her house is "Available". Big difference between "availaable" and "For Sale".In other words she's not in the game, not a player. Plain and simple.Only way she sells her house at her price is if someone comes along, didn't do his homework, doesn't read CD and makes a WHOOPS!
More than likely the uninformed buyer will be saved by the lender's appraisal and/or underwriter. That is, unless they pay cash without an appraisal.
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Old 05-10-2009, 07:48 PM
 
Location: Indian Trail, NC
314 posts, read 1,131,707 times
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My house was on the market for 6 months. We finally sold it, but had to pay $4000 out of pocket to get rid of it. That doesn't count some of the repairs that needed to be done to sell it too.
Of course, we felt lucky to get rid of the house and a HUGE weight was lifted off of us when we did. We had no down payment for a new house and we had to dip into our very limited savings to get rid of the house, but it wasn't doing anything but draining our checkbook each month back in MO while we were here in NC.

Sometimes you've just got to roll with the punches in order to get what you want in the end.
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Old 05-10-2009, 08:02 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,647,069 times
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Quote:
Originally Posted by NC_Paddler View Post
As to scouring the market looking for desperate sellers so you can pounce on them like a predator on wounded prey, I'm not into all that. I just want a nice to place to live at a fair price -- I don't need to suck the blood out them.
So let me get this straight. If you had the opportunity to buy a home for 10-20K less than what you think you could get, you wouldn't because you feel sorry for the sellers? that's basically what you are saying.

I'm glad you have an extra 10-20K to burn and give to the sellers (who you do know will not even remember your name in 2 years)....I wish we all had your kind of money.

This is the problem w/many sellers/buyers (and sadly even some realtors)...they are too emotionally involved and cannot realize that this is a BUSINESS decision first. Thus, they leave thousands of dollars on the table (like would be the example above..)
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Old 05-10-2009, 08:34 PM
 
1,379 posts, read 3,903,003 times
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Quote:
Originally Posted by CouponJack View Post
So let me get this straight. If you had the opportunity to buy a home for 10-20K less than what you think you could get, you wouldn't because you feel sorry for the sellers?
No, I'm just saying that I'm not going to spend all of my time and energy scouring the market for desperate folks so that I can pounce on them.

And more to the point, the bloodsucking mentality that many buyers have right now is irrational -- it's not as bad as they think.
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Old 05-10-2009, 08:43 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,647,069 times
Reputation: 3722
Quote:
Originally Posted by NC_Paddler View Post
No, I'm just saying that I'm not going to spend all of my time and energy scouring the market for desperate folks so that I can pounce on them.

And more to the point, the bloodsucking mentality that many buyers have right now is irrational -- it's not as bad as they think.
The mentality is NO different than what was going on in this country several years ago when it was 180 degrees the other way.

don't you remember there were lotteries held in many places by builders around the country just to bid on a lot?

TIME Magazine Cover: Home $weet Home - June 13, 2005 - Real Estate - Housing - Money

Even in Charlotte up until '07 homes and lots were going like hotcakes...builders didn't give an INCH...realtors were getting rich.

Now everyone in the industry is crying the blues because as you say of the "bloodsucking" mentality of the buyers..

Funny...where were you 3-4 years ago?
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Old 05-10-2009, 09:40 PM
 
Location: State of Being
35,879 posts, read 77,102,358 times
Reputation: 22750
Quote:
Originally Posted by jstevens44 View Post
My house was on the market for 6 months. We finally sold it, but had to pay $4000 out of pocket to get rid of it. That doesn't count some of the repairs that needed to be done to sell it too.
Of course, we felt lucky to get rid of the house and a HUGE weight was lifted off of us when we did. We had no down payment for a new house and we had to dip into our very limited savings to get rid of the house, but it wasn't doing anything but draining our checkbook each month back in MO while we were here in NC.

Sometimes you've just got to roll with the punches in order to get what you want in the end.
Totally understand your situation and your reasoning, as well. You were smart to bite the bullet and move on. I so admire you for seeing the situation for what it was - cause honestly, I think it is truly a big challenge to be able to stand back and not get emotionally involved. I am glad you were able to make those hard decisions. You said it was a huge weight being lifted off you and I am sure it was. The good thing is . . . there is always another house! With some time, most of us can buy another home, even if it takes a while to work out. Not having that drain every month has to be liberating.

I sure hope you all are happy here. Been meaning to ask you that for a while. Hope things have fallen in place for you here in Charlotte.
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Old 05-10-2009, 10:02 PM
 
Location: Charlotte, NC
2,193 posts, read 5,035,324 times
Reputation: 1075
Quote:
Originally Posted by NC_Paddler View Post
No, I'm just saying that I'm not going to spend all of my time and energy scouring the market for desperate folks so that I can pounce on them.

And more to the point, the bloodsucking mentality that many buyers have right now is irrational -- it's not as bad as they think.
I totally disagree about this bloodsucking mentality that buyers supposedly have. Buyers don't know what a fair price for a home is since prices went out of control for so many years. The comps are all over the place for the same subdivisions and homes are listed for very different prices even though they are the same.

I see homes listed for 140 thousand dollars more than the other listings and sold comps. These houses are the same. Similar square footage and same type of upgrades (or lack of them).

Some of these people have owned their homes for 10-30 years. No one is bloodsucking from these people.

People want their homes to magically exponentially increase in price and for new buyers to magically get the money from somewhere. Newsflash, this isn't possible! Money doesn't come from magic, there's a strategic method to where money comes from and how our money supply grows and decreases.
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