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So after the co's were complete, how much did your taxes go up?
Nothing the first year. In the 13 years we've been here the taxes have gone from $5000 even to $8800. That is without us doing any major reno jobs on the house or property.
I'm going the "for sale by owner" route this go-round...however, I have the luxury of wanting to sell, not "needing" to sell.
We too are in your position but we would not dream of going that route. We have pulled our home due to too lack of current inventory where we want to go. That said, we had not one but 2 offers that were offers that we gladly would have accepted had there not been strings attached on the buyers parts.
I would have been lost without the guidance of my broker and I am glad she was here for me. Both had to do with us vacating the house in under 40 days in one case and 30 in the second. We actually had accepted the offers and then the time frame came up in conversation to our broker. Funny but if I were in the buyers shoes that would be the very first thing I would want to float with the offer. The first couple didn't think it important enough to mention to our broker and the second the broker supposedly did not know his buyers time frame.
I can honestly say particularly in this market, the Tom's and Elke's of this world are earning every penny they make, and more often than not it is the hard way. Obviously not all are extraordinary but I would not venture into this negotiation alone, with the permits problems, bank appraisals and the rest of the assorted problems connected to selling a home. Good luck to you.
Exactly - a home around the corner from me listed at 449K, sold for 439K in 5 weeks. Another home on the opposite block - listed at 699K 2.5 years ago, we told the owner they were not realistic, 2.5 years later, now down to 425K with nary an offer in sight. Had they listed it at 500K, they likely would have sold it quick, being on a main road without a garage does not help.
You hit on a very good point. Houses that are way overpriced, often sit on the market even after they eventually come down to a more realistic level. Many sellers "chase the market down" today and never sell their house, just as many buyer's chased the market up in the 2000-2007 period and never bought one.
I can honestly say particularly in this market, the Tom's and Elke's of this world are earning every penny they make, and more often than not it is the hard way. Obviously not all are extraordinary but I would not venture into this negotiation alone, with the permits problems, bank appraisals and the rest of the assorted problems connected to selling a home. Good luck to you.
I agree. Right now with it being a buyer's market, if you have a good RE agent it can make all the difference. The last thing I'd want to be doing is dealing with a potential buyer right now. And TBH, having been thru a FSBO, no way will I even look at one again. So you are potentially eliminating buyers who feel the same way.
Fortunately, I don't care. Here is the house, here is the price. Make a rational offer. I am not making any concessions to make the deal go through. It is what it is. My house is priced accordingly to the market, there is little wiggle room on the price. Don't make an offer and then a list of demands. It is not a buyers market for me.
Fortunately, I don't care. Here is the house, here is the price. Make a rational offer. I am not making any concessions to make the deal go through. It is what it is. My house is priced accordingly to the market, there is little wiggle room on the price. Don't make an offer and then a list of demands. It is not a buyers market for me.
As long as you are priced BELOW realistic comps (remember those comps accepted offers 6 months ago and the market continues to fall) and you spruce up the house you should have no trouble selling. My only advice (and I am not a realtor) is to have an objective and blunt friend tell you which houses are comps and which are not. After two weeks you will know if your price is right and can accept an offer, take it off the market, or adjust accordingly.
As long as you are priced BELOW realistic comps (remember those comps accepted offers 6 months ago and the market continues to fall) and you spruce up the house you should have no trouble selling. My only advice (and I am not a realtor) is to have an objective and blunt friend tell you which houses are comps and which are not. After two weeks you will know if your price is right and can accept an offer, take it off the market, or adjust accordingly.
True..."the market continues to fall". PruElliman's LI Q2 2012 vs Q2 2011 shows about a 2.5% drop in prices year-over-year in all parts of LI. However, many sellers continue to believe that the reverse is true (prices going up) and are not pricing accordingly because they know there are a lot of stupid buyers out there
Fortunately, I don't care. Here is the house, here is the price. Make a rational offer. I am not making any concessions to make the deal go through. It is what it is. My house is priced accordingly to the market, there is little wiggle room on the price. Don't make an offer and then a list of demands. It is not a buyers market for me.
I agree. God isn't making any more land and most of the "buyers" out there are conditional on selling their own houses first! Mortgage rates may be at an historical low, but mortgages aren't being underwritten because the appraisers are killing deals right and left. The days of GreenPoint Savings Bank, are gone.
When someone wants to buy my house, either all cash or with a solid commitment offer in hand and makes a reasonable offer, I'll be more than happy to sell. But until then, I'm not about to undersell my biggest investment during a depression.
What's weird about NY is the apparent conflict of interest inherent in buyer's agency. The buyer's agent has an ethical responsibility to honor the contract and represent the buyer's best interest. However the agent still gets their commission from the house sale, so it is in their personal best interest to have the price be higher. We used a buyer's agent but considered her like a seller's agent, and that the agency agreement was just a piece of paper.
When you offer on a house it shouldn't really matter to you if there are 12 other "offers" on the house. You should still offer around what you think the house is worth.
And for the person who was upset about buyers wanting you to vacate in a month? That is normal in other parts of the country.
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Had they listed it at 500K, they likely would have sold it quick, being on a main road without a garage does not help.
