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The only house in my neighborhood that sat for longer than 30 days lately (it seems just from the few I drive by) was one up the road and that's because they were priced too high. They lowered the price 4 times, and I see it's now in pending. Most of the houses in my area go fast and they are not very updated.
My apologies, I was just flabbergasted that people would put an offer in on a house and not be serious. That just seems so...immature. I don't really have experience in home buying, I've only bought one when I was 26, but thought it was a big deal when you finally put an offer in.
House down the street from us sold in 2 hours after being listed, home buying isn't something you do on a whim IMO.
Thank you It just comes down to differences in how things are done. I'd prefer the way things are done there, from what I know already. But its just a fact in my area that you see numerous houses and may have numerous offers in. As someone else said - usually less than asking too. Because you list for x amount of dollars over what you think you're going to get, and negotiation is expected and could be lengthy. I had an accepted offer on my home in August, didn't close until mid November, and that was pretty fast, considering we had no issues.
Anyway, thanks for explaining.
Quote:
Originally Posted by JNR417303
I know a lot of people coming from other areas had the attitude of "Well that's just the asking price" and were shocked to find they lost out to multiple full-price offers. Real estate down here is still much cheaper than up North, it's just done a little differently.
Yup, exactly. Up here, I had a habit of looking at houses that were 25k more than what we were looking to pay, expecting negotiation and possible inspection issues that would necessitate a lower selling price. This thread completely changes that for me.
Quote:
Originally Posted by BoBromhal
which is why any Buyer should engage the services of a quality Realtor.
Going back to the origins....
That may or may not be a nice house at a nice price in that area of Garner, which is a Wake County town but hey, the house is in a completely different county (taxes, schools, etc).
There's no way to tell whether flooding is an issue, though looking at the pictures, clearly the home has many stairs upfront and is elevated. The basins out front are man-made ponds, and appear to be the property owner's to the southwest. which appears to be a larger and custom home without further snooping (based on the rooftop). The ponds aren't a mosquito concern, the wetlands behind the house could be.
NC and all states have individual contracts. Each state's varies somewhat.
In NC, it is the Buyer's obligation to pay their own closing costs. A Buyer can ask the seller to pay theirs - a stated $ figure, usually not more than $3-4K - and the Seller will take the offer price less those CC's and consider it as a "net offer" (that is, if they have a qualified Realtor representing them, or are otherwise intelligent).
When you make an offer, you need to have been prequalified including credit and any job change bringing you here. You also need to be PREPARED to offer a due diligence fee at acceptance, but NO MONEY is due simply by making an offer.
Thank you for all the details! I like to be conservative with what I think something will cost so I did assume closing costs would be paid by us. I know they can vary depending on the home price, taxes, etc but we paid 5% of our home value in closing costs - a little over $19,000 - and it sounds like it might not be that much down there. Taxes are blessedly cheaper, I'm hoping home insurance is also less.
Good point on the job. Even though our credit is very good, not being established in that area and not being at a job long will probably hurt us a bit. We do plan on renting first to get used to the area which I think will help narrow down where we would like to settle permanently.
Curious what people's thoughts on this house are. It sat on the market for 30+ days before going contingent which is surprising for this neighborhood. My best guess is it's a corner lot next to the main road for the neighborhood and some of the rooms have odd dimensions.
Moderator cut: link removed, linking to competitor sites is not allowed
My first impression - 70's style. The outside and inside accents are dark, and I see a trend of light, bright and open on all the home improvement shows I watch.
I live on a corner now, with a 2-way stop sign, and would not choose a lot like that again.
This is a great post! Very informative. I have been keeping a close eye on the market also, and I am amazed at how quickly the houses are selling. And now that I am seeing more of the "Coming Soon" For Sale signs in people's yards (especially near the Cameron Village area!), I sympathize with any buyers out there! Are those signs "allowed"? If so, is there a guideline of how early you can put up a for sale sign prior to actually listing the house??
This is a great post! Very informative. I have been keeping a close eye on the market also, and I am amazed at how quickly the houses are selling. And now that I am seeing more of the "Coming Soon" For Sale signs in people's yards (especially near the Cameron Village area!), I sympathize with any buyers out there! Are those signs "allowed"? If so, is there a guideline of how early you can put up a for sale sign prior to actually listing the house??
There is no limit on how long the Coming Soon sign can be in the yard.
"Coming soon" lets a listing agent and seller agree that the agent will list the house for sale.
MLS rules require that Active listings be available to be shown by other MLS members.
When you see "Coming Soon" on a property, it means that there is a listing agreement.
IF it is Active on MLS, it cannot be "Coming Soon." It has to be Active for showing.
"Coming Soon" listings must be in a "Temporarily Off the Market" status on MLS, and at that, may not show up on sites like Zillow or Trulia or Realtor.com.
The MLS Public Remarks must have a tentative showing date included.
I use Coming Soon to create market buzz while my sellers are doing minor repairs, painting, decluttering, etc. It makes the phone ring.
The more calls, the better we know the price is. No calls during Coming Soon may mean the price isn't really very accurate.
Consumers are leery of Coming Soon, and often feel like the market is not offering them a fair shot at inventory. Sometimes, they are right, unfortunately. Cheating happens, although may be difficult to prove.
Where the cheat can come in...
Agents who allow showings while it is Temp Off. That is a rules violation, but I am sure it happens. That is how you see homes sell in "0 DOM."
One agent from a large firm told me, "My broker in charge says you can take it Active for an hour so I can show it." Suddenly I didn't want to mire in doing business with her or her broker or firm.
Last edited by MikeJaquish; 07-30-2015 at 01:14 PM..
The outdated inside is an eyesore. It looks like the only room they've tried to update is the kitchen and even that looks dated. It's a non-traditional home that is going to appeal to less buyers anyway, but those who looked probably thought it would take too much money to update. Also the pine trees/needles on the side, I know a lot of people hate that as it's ugly and ruins the yard. Honestly I'm surprised it didn't sit longer. I wonder what price they eventually settled on, maybe someone is planning on flipping it?
it took 28 days for a contract. And that was almost 3 weeks ago.
it was last sold 2 years ago for 20% less, so I doubt there's any flipping to be done
there are many non-traditional/contemporary homes in Kildaire Farms
it's not that busy of a street, and a nice lot given it backs to common area.
I can easily remember the days we would welcome 28 DOM as being "really fast".
it took 28 days for a contract. And that was almost 3 weeks ago.
it was last sold 2 years ago for 20% less, so I doubt there's any flipping to be done
there are many non-traditional/contemporary homes in Kildaire Farms
it's not that busy of a street, and a nice lot given it backs to common area.
I can easily remember the days we would welcome 28 DOM as being "really fast".
LOL
I have had buyers asking me what is wrong with houses that "sit on the market for a long time."
I.e., three weeks.
This is a great post! Very informative. I have been keeping a close eye on the market also, and I am amazed at how quickly the houses are selling. And now that I am seeing more of the "Coming Soon" For Sale signs in people's yards (especially near the Cameron Village area!), I sympathize with any buyers out there! Are those signs "allowed"? If so, is there a guideline of how early you can put up a for sale sign prior to actually listing the house??
a "Coming Soon" sign is supposed to be preceded by either:
1. a valid listing agreement, whereby the home is withheld from the MLS and the MLS is made aware of same
2. a signed agreement between property owner and agent acknowledging that there is no agency relationship yet, but the owner approves of the agent putting the sign on their property.
haha yeah it's definitely a different world right now. When I bought my house in 2011 it had been sitting on the market for almsot two years
As a recent buyer, who paid over asking for our home (on day1), this makes me both very jealous (wish that was the market we bought in) and very nervous (what if the market goes back to that)
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It just comes down to differences in how things are done. I'd prefer the way things are done there, from what I know already. But its just a fact in my area that you see numerous houses and may have numerous offers in. As someone else said - usually less than asking too. Because you list for x amount of dollars over what you think you're going to get, and negotiation is expected and could be lengthy. I had an accepted offer on my home in August, didn't close until mid November, and that was pretty fast, considering we had no issues.
