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It is 100% financing !!!! must be crazy but saw a thing the other day hot and cold places to buy and they didnt mean weather. SA is #15 hottest we will see what happens.
regarding gas-------My wife will not even consider looking at a house that has anything "gas" in it.
Is her fear irrational? Probably, but we have had a few stories on the news about gas explosions and she wants nothing to do with anything gas.
There's a post in the House forum, I think, describing how a new electric range turned itself on (automatic cleaning) and nearly burned a house down.
An electric fire did burn down a house belonging to one of my family members. Bottom line, you can never be 100% sure of anything!
Out of their price range but thought they could knock us down !!! why do people do this ?? Do you think they will get an 80/20 ? I thought I read somewhere that they had stopped doing those in Texas, maybe I got it wrong !!!Don't think they even have the closing costs as they were trying to get those out of us.
Your home is only worth what someone will pay for it.
Odds are this will be your best offer, but if you want to hold out, that's your choice. Remember, you have an offer on the table. You are more fortunate than most.
Just think of all the people who passed on offers because of greed, but are now kicking themselves because their house is sitting and sitting while the market is getting worse.
Compared to others in this area ours is the cheapest - unlike others we are not being greedy. We are in no hurry to move if they drop then we will just stay put for a while. Husband works from home so we can move whenever and wherever we want to - we are lucky.
Compared to others in this area ours is the cheapest - unlike others we are not being greedy. We are in no hurry to move if they drop then we will just stay put for a while. Husband works from home so we can move whenever and wherever we want to - we are lucky.
I'm with you. Right now our markets are NOT in a bubble and not going down. Only houses going down in value are the newly built entry levels WAY OUT in the FAR reaches of the burbs where most of the transplant nomads move to and try to sell in 1-4 years.
These buyers are the EXACT ones that have caused much of the problems we are now seeing in many markets. They WILLINGLY went and looked at a house that was out of THEIR price range. They can ONLY afford a house in that price range IF they do 100% FINANCING! Then they LOWBALLED on a house that even THAT offer was still too high for THEIR OWN finances. If your price range that you can qualify for only goes up to $250K they have NO BUSINESS even LOOKING at a house that is over $300K. I would not even recommend they look at one just below $300K in an area that is HOLDING its value. They need to go look at houses in their price range and stop trying to get something for nothing. All that will happen w/ buyers like this IF they do get a lowball offer acceptes is end up being in financial straits in a few years. When they can't afford the 100% financed mortgage, increase in insurance (based on value to replace and it is GOING UP in that area), property tax increase (going up in value) AND the utilities for a home larger than they could afford they will end up trying to sell to get out from under or foreclosed on. Their circumstance has NOTHING to do w/ the list price of the sellers house. If the seller has their property listed at a fair price for the area in an area that is still seeing a steady appreciation rate then the buyers need to realize that and find a house within THEIR OWN MEANS. They should not expect people/sellers to come down to meet their financial needs.
I'm with you. Right now our markets are NOT in a bubble and not going down. Only houses going down in value are the newly built entry levels WAY OUT in the FAR reaches of the burbs where most of the transplant nomads move to and try to sell in 1-4 years.
These buyers are the EXACT ones that have caused much of the problems we are now seeing in many markets. They WILLINGLY went and looked at a house that was out of THEIR price range. They can ONLY afford a house in that price range IF they do 100% FINANCING! Then they LOWBALLED on a house that even THAT offer was still too high for THEIR OWN finances. If your price range that you can qualify for only goes up to $250K they have NO BUSINESS even LOOKING at a house that is over $300K. I would not even recommend they look at one just below $300K in an area that is HOLDING its value. They need to go look at houses in their price range and stop trying to get something for nothing. All that will happen w/ buyers like this IF they do get a lowball offer acceptes is end up being in financial straits in a few years. When they can't afford the 100% financed mortgage, increase in insurance (based on value to replace and it is GOING UP in that area), property tax increase (going up in value) AND the utilities for a home larger than they could afford they will end up trying to sell to get out from under or foreclosed on. Their circumstance has NOTHING to do w/ the list price of the sellers house. If the seller has their property listed at a fair price for the area in an area that is still seeing a steady appreciation rate then the buyers need to realize that and find a house within THEIR OWN MEANS. They should not expect people/sellers to come down to meet their financial needs.
That's a nice speech, but unfortunately what YOU want buyers to do will not happen. They are going to pay the absolute lowest price they can (and why blame them?)
Again, NO ONE blamed sellers 3-5 years ago for selling for outrageous prices in many areas. Now the shoe is on the other foot and people are crying the blues about "lowballs" and "living within their own means". WHERE WERE ALL YOU PEOPLE 3-5 YEARS AGO? Now that your selling or you have a vested interest your crying the blues. People are so hypocritical its rediculous.
Let the market play itself out. If you can sell for the amount you want, great. But there's no rule on what a house "should" be valued. Its only worth what someone will pay. If you are in a market that overheated OR there's a limited amount of buyers THEN ITS BASIC SUPPLY AND DEMAND.
Of course people should "live within their means", however the REALITY is most people don't. People today are blitzed by different entities to entice them to overextend themselves. If they don't have the will to fight back that's their problem. And judging by the finances of the majority of today, its obv we have a financial crisis.
Its GREAT that the market is doing what its doing. Getting back to tough standards and getting back to historical norms....
Well tomorrow is our BIG open house...good news is the house looks really good, I decluttered more and working on more today...and went out and bought a few new accents to spiff it up a bit..bad news is our agent has to have immediate surgery today so WE are showing the house. We have done it before...his partner has his own open house tomorrow but he is available to WRITE up all the offers we are going to get. Yes I am thinking positive.
This is probably one of the busiest weekends here...the Parade of Homes begins today and runs for 2 weeks St George Area Parade of Homes 2008
Our home is advertised in the parade magazine so we are planning to have people come through...one of the Parade homes is a couple blocks away. Our agent brought over signs and flyers for us. I am going to load the dogs into the jeep and head out for the day...and hubby is going to sell the house.
Positive thinking only! We need to sell...we don't have to sell....we are priced competitively. Our area is hard to comp as they are all custom homes, varying size and value. Down the road you have a house listed at 369,000...3 houses up a home just went on the market for 725,000. We are at 499,000 so we will look good compared to the more expensive home, which is actually only 500 sq feet larger...bigger lot but not usuable...hillside. We are a flat lot with a view...fully walled back yard that is very private. Well I just sold myself so we will just pass those good vibes on to the buyers..
Good wishes are appreciated and positive thoughts....thanks!
Good Luck I hope that buyer comes through this weekend for you. Mindy
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Our Open House tomorrow..
