$350,000 Contract. $100,000 DD Fee. $250,000 EMD

[North_Raleigh_Guy]

I have a coworker who just bought a new home in Johnston County - I think in Clayton. She mentioned that she spent a week thinking over which lot they wanted to buy and from one week to the next the builder raised the lot price by $6K. Not sure if that is the norm these days but that was her real-life experience buying a new build.

[TarHeelNick]

Originally Posted by North_Raleigh_Guy

I have a coworker who just bought a new home in Johnston County - I think in Clayton. She mentioned that she spent a week thinking over which lot they wanted to buy and from one week to the next the builder raised the lot price by $6K. Not sure if that is the norm these days but that was her real-life experience buying a new build.

My clients recently closed on new construction in "New Hill". They signed to secure their lot and make their structural choices in September of 2020. As of right now; the base price in the same neighborhood for the same floorplan they chose is a full $50k higher than it was 6 months ago when they signed.

[BoBromhal]

Originally Posted by HatchChile

That's nuts, Nick. I can't imagine doing all that work for your client and not getting it, with such a strong offer too. I noticed one house that went under contract within a day in my neighborhood. It was sold not even a year ago. At that time it sat on market for months because it was just a weird little ugly duckling of a house. Now it comes back out on market for about 70K more and goes under contract within a day. Just crazy.

that's an indication of your inventory issue. There are several out there.

Recently I saw one example where the house had tried to sell for like 10 months just 2 years ago - under-presented (ie needed cosmetic work) and over-priced obviously. 3 weeks ago, hit the market with no changes - except a higher price - and sold in 2 days.

Those are the ones I "worry" about for buyers/the market. Any house that has a "structural" issue (meaning one that cannot be changed, not an issue w the foundation) that sells just like it was a great house - any combination of DOM and price that mimic the normally-desirable home.

[BoBromhal]

Originally Posted by TarHeelNick

Yes I have noticed quite a few of those as well. Those are what scare me about the current market. The previously "unsellable" houses are now flying off the market because buyers are getting desperate and exhausted.

or more simply stated - this.