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We were going to put our house on the market.....WELL below what we paid, of course! But now we have a foreclosure across the street and another home that has placed their house on the market WELL below market.
I just have to vent......I know everyone is in the same boat. But it truly is FRUSTRATING!
I am considering placing an ad for a House Swap! Heck, anything at this point! I wonder if that really works. Do realtors get involved with house swaps for a finders fee????
DK, but I'd be interested. Everytime I consider putting our house on the market (for the same price bought in 1997) another house goes up for sale right on our block and we have several already for sale; I don't want to compete with everyone and I think too many drives buyers from the neighborhood. I would love to know how a swap works out for someone.
We bought a home in the past year because it wasn't a forclosure!
Wanted to avoid the waiting game for the banks to make a decision....
Also wanted a home that was cared for, maintained. The foreclosed homes we looked at all had issues, neeeded a lot of $$, such as no toilet, mold, broken cabinets... Please don't be afraid, but rememeber the more decluttered and "turnkey" it is the easier it will sell. Please swallow your pride and ask people to criticize your clutter/home presentation. It will help a lot. We sold our home in 4 days because it was "turnkey", a lot of people are not do-it-yourselfers.
We were going to put our house on the market.....WELL below what we paid, of course! But now we have a foreclosure across the street their house and another home that has placedon the market WELL below market. I just have to vent......I know everyone is in the same boat. But it truly is FRUSTRATING!
I am considering placing an ad for a House Swap! Heck, anything at this point! I wonder if that really works. Do realtors get involved with house swaps for a finders fee????
The "market" is not asking prices, which may be inflated by unrealistic sellers' fantasies, but sale prices, i.e., homes which have actually sold. Based on that, are you sure the other home is actually well below market?
The "market" is not asking prices, which may be inflated by unrealistic sellers' fantasies, but sale prices, i.e., homes which have actually sold. Based on that, are you sure the other home is actually well below market?
Oh yes.....well below. They are close to the price of the foreclosure. There have been several homes in the neighborhood that has sold above that price. They are just short selling themselves and bringing our home prices down even further.
Oh yes.....well below. They are close to the price of the foreclosure. There have been several homes in the neighborhood that has sold above that price. They are just short selling themselves and bringing our home prices down even further.
You have to ask yourself why would they do that? I'm guessing that would you consider market value and what they consider market value are not the same.
We put our house on the market and sold it in four months. God willing, we close on Monday.
We have some foreclosures in our old neighborhood to contend with and it is truly frustrating. We are taking some money to the table but we really needed to move and fortunately could afford to carry two mortgages for a while.
We cleaned, decluttered, put in new flooring and repainted everything. I think it helped but it was no picnic.
Oh yes.....well below. They are close to the price of the foreclosure. There have been several homes in the neighborhood that has sold above that price. They are just short selling themselves and bringing our home prices down even further.
I agree with another poster here that your notion of market value is probably skewed.
The foreclosure is probably priced right.
The Short sale is another matter. Realtor s ofter will pick a price from thin air for a short sale. its designed solely to entice an offer that can be submitted to the bank. Once the bank has the offer, then the real price will come from the bank. Usually a higher price.
We just bought a home this month. It was a standard sale. the home was in pristine condition. And we gladly paid a premium over what similar sized short sale homes were going for.
So
If your home is in perfect condition, with absolutely zero projects a buyer would have to do, with the popular upgrades, professionally installed. Then you can expect to sell at a higher price than foreclosures and short sales.
With the market as it is, those people selling at that price probably selling at a discount to what the market would be if there weren't any distressed sales in your area, but when you need to sell, you do what you have to. The flipper in my townhome development is seething that they are competing with a Homepath property, and have had to lower their price accordingly, but they need their money back quicker than it will take for the foreclosure to go so they are doing what they have to.
You shouldn't be mad at people who are in such a desperate situation that they are willing to lower their price so much, you should feel bad for them.
Foreclosures do not actually sale at the same price as non-foreclousres and never really.
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