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What is something worth??? Only what someone is willing to pay for it at the time of sale. That is even more obvious in the current real estate market. Home sales are very slow out here in the north bay and prices continue to fall.
I did just buy a Home in Ada County. We are moving next week. I feel confident in my purchase and I do plan on being there for a long time. Torrie's right, in today's market, you can't expect to flip a house in a couple of years or less and make money. I have never done that. People here that bought two years ago are upside down in their homes. I hope it flattens out soon.
Don't know about here, but in Arizona the last five years people viewed their homes as giant ATM's. For a couple of years my house was appreciating $40-50,000 a year and I had friends whose house appreciated $150,000 in a little over a year. It's hard to let that equity just sit there. The downside is if you have to sell your house quickly and house prices have dropped in your neighborhood it's easy to find yourself upside down on your house.
Don't know about here, but in Arizona the last five years people viewed their homes as giant ATM's. For a couple of years my house was appreciating $40-50,000 a year and I had friends whose house appreciated $150,000 in a little over a year. It's hard to let that equity just sit there. The downside is if you have to sell your house quickly and house prices have dropped in your neighborhood it's easy to find yourself upside down on your house.
That's what all the people here in So Cal are doing. Second and third mortgaging their houses to death, so they can have a boat, toy hauler, Hummer with 22" spinners, and all the toys you can think of Now they get to pay the price.
That's what all the people here in So Cal are doing. Second and third mortgaging their houses to death, so they can have a boat, toy hauler, Hummer with 22" spinners, and all the toys you can think of Now they get to pay the price.
I was wondering how people seem like they can afford so much stuff. Not smart.
fabforever, I'm curious, what town are you in? I have to laugh, we are in North Carolina, and the homes in this area move so slowly, it might be a year before we sell. We are planning a move to ID sometime spring/summer08. We are putting our house on the market this October and really hope that we won't have to rent when we get to ID because of the 2 mortgage deal. When I read that you've had your house on the market 3 weeks and hope to have a buyer, I'm thinking...that's a really hot market!
Have you been to Virginia before? What area are you relocating to? We travel there on business quite often. It's a whole different culture here in the south. But you are right, you get a lot more for your money.
<<On the positive side, houses in VA are the cheapest they have been in the past 20 years! So when we do move, we can find a great deal over there.>>
Where in VA???? I live 35 miles outside of Richmond and prices have gone up, up, up in the 4 years I've been here. The market is just now slowing. Our house appreciated by 150,000 in just 3 years! And our taxes have gone through the roof. We are looking to get out. If only you had a horse property we could do a trade :-)
Hey, I'm a realtor and I hear that the market w/n go up until 2009 or so. I'm in the same boat as everyone else trying to sell their home. It is a struggle. I live in Sicklerville and there is an abundant amount of homes for sale. New Construction sites are offering $30,000 -$80,000. off the price of homes which further impact the sales of young homes. Just know that selling your home anywhere in the US is frustrating.
My question is what are the real advantages of having a Real Estate Agent sell your home over the "Help U Sell" kind of companies.
We sold about 5 years ago and it took less than a week and the agent got a chunk of change for doing nothing. I don't want to pay another Agent out the nose for doing little to nothing besides tell me what to price my house.
So are there any REAL advantages to having an Agent vs. Selling companies? Or even For Sell By Owner??????
I am NOT an agent. We have sold and bought 10 houses in 20 years 8 were FSBO.That is a lot of transactions. We have had experiences with realtor too.
Advantages for a realtor can be. They have the advertising capabilities going for them through their brokers and working for larger companies, than just you sitting in your house waiting for someone to come by,they will just get more traffic. The realtors we did work with are still our friends and the deals went well except one because of the buyer and we still paid our realtor when we refused to sell to nasty buyer and the deal went FSBO trade.
The realtor will usually make an appointment with you to show your house to prospective buyers giving you the slight advantage of not having to keep your house in pristine condition 24/7. You need to keep it close because sometimes the realtor will just have to give you that call saying please let me show it right away but usually you have time for the spruce up.
Selling yourself you ALWAYS have to be prepared to show your house. Cook dinner and do cooking dishes before sitting down to eat. I got to be a master of stashing my plate in the microwave. People here seemed to come at dinner time.Any meal time.
With a realtor the people get the facts on the house period and if owner is showing they tend to say too much. Point out every little thing they did to the house and as a buyer I know some of the things the people were so proud of I could not wait to rip out if we bought the house. Too much seller chatter can drive your buyer off. Realtors are so good at not being emotionally evolved with the houses when showing them.
I know other places in the USA are big on attorney's. Does not seem to be so here or we have just been lucky. When we did FSBO we and seller or buyer went down to title company. Told the title company what the selling/buying price was and what arrangements seller and buyer agreed to as far as what would stay with property and preferred closing date and title company writes it all up. You pay their fees of Title insurance and closing costs and the price of the house. Shake hands exchange keys, done deal. We have never had a problem. We have always sold as is and accepted a house as is. We would do our own inspections before agreeing to purchase or have buyer look very close at everything before agreeing to sell. We take very good care of our houses and it shows to buyers. We have bought many fixers because that is what we used to do. Hopefully no more.
So a good agent will bring you qualified buyers spend lots of money on advertising. Give you notice of showings and take some of the emotional part of leaving your beloved home off your shoulders. I am sure they earn their money. The stress of doing it all your self can drive a person crazy.
We are in KY and in the (almost) same boat as you. Hang in there. We've been on the market for 25 days and only 4 real showings. No offers :-(
I am asking my realtor to do another set of CMA. Even the cheaper homes (I'm out of Cincy in No KY) are stale on the market in my little city.. ughh!
Good luck. We're relocating to FL and to swing it with rent, my husband will need to work to pay our rent and 2 kids will go into day care. :-(
Traysea
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Now they get to pay the price.
