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I check Craigslist every day. I actually looked at one when they listed it a 2nd time and lowered the price $50k - I had my realtor call them and schedule a showing as their ad offered the 3% buyers commission. If a seller won't work with a buyers agent, for the right price I would have compensated her. No way I can cut her out, she's awsome.
That is really nice! I like to hear clients brag about their agents.
Exactly! Craigslist is great! I bought our previous house off craigslist like i said above. Its wonderful if you are either a buyer or a seller. If you are a buyer, you get to try to find someone selling it by owner instead of a real estate agent, and thus, they can pass along that 6% discount that the agents would take sadly and therefore you can get the house negotiated for cheaper.
On the flipside, as in my recent situation, if you are the seller, you are getting free advertising from an absolutely amazing medium with high traffic and lots of views, without dealing with an agent doing it for you, even though its the most simple thing in the world to list and advertise your house. No need to give some agent thousands of your hard earned money before trying to go this way. Plus, like I had on my ad when I was selling, that if you a buyer was working with an agent, to add 2.5% to the asking price as a starting point, cause I am sure as hell not gonna pay for your agent for finding a house on craigslist.
Quote:
Originally Posted by tryin2buy
I check Craigslist every day. I actually looked at one when they listed it a 2nd time and lowered the price $50k - I had my realtor call them and schedule a showing as their ad offered the 3% buyers commission. If a seller won't work with a buyers agent, for the right price I would have compensated her. No way I can cut her out, she's awsome.
Our house is on the market and we haven't sold yet, but Craigslist does bring a lot of potential buyers in. And so far, no weirdos or anything like that, although I am sure that can happen.
It does attract a lot of scam artists too...I get e-mails almost every day from people whose mission it is to "save you from bankruptcy", "buy your home at top prices!", as well as realtors looking for clients.
I am surprised myself!
I have been searching for rental properties and it seems like every post I respond to is someone from "Africa on a mission trip trying to get into heaven" and wants me to wire them the money then I can have the keys.
Of course you want to know where I am looking? Virginia's craigslist for Hampton Roads in Williamsburg. I don't want to give up on craigs altogether, but I am seriously tired of hearing from out of country individuals who want me to wire them the money...a huge no-no.
Thank you for my first outloud laugh of today. Don't be frustrated. It is the world we live in. You just have to be careful/cautious. I am near Williamsburg and it is a fantastic place. If you are looking for a summer rental you are probably too late. I would suggest you also check local papers and military housing if possible. Those will be the most reputable but Craigslist DOES have legitimate listings. Good Luck
No not at all. Actually, we sold the house for about 25-30K higher than any other other homes on the market in our neighborhood at the time (all of those had been on the market for months before I posted mine on Craigslist and all were listed with an agent and actually all are still on the market 5 months later!!). We were actually nervous cause no home in our neighborhood had sold in the past 12 months, and none had came close to selling for as much as ours was. I really didn't think it would appraise to be honest, b/c I had my own appraisal done just b/c I didn't think it would appraise once the bank sent out their person, and I wanted to have a second one on hand to compare. The guy I hired said he could only get it to come in around 10-12K LESS than our sales price, but by the luck of god, the real appraisal that mattered from the bank/lender appraised for $500 more than the contract price! I don't know how, but I was so happy! ALso, that appraiser didn't even take measurements or anything, just came in the house and looked at all the updates and everything, never measured anything. Our home was by far the most updated in the neighborhood (late 70s houses), and we feel so fortunate to have came out without a lower appraisal!
Quote:
Originally Posted by Chuckity
Just curious ... but the sales price on the house you sold was 6% below any comparables in the area?
And - did you buy your current house from Craigslist?
No not at all. Actually, we sold the house for about 25-30K higher than any other other homes on the market in our neighborhood at the time
May I ask when you sold?
Closed comps are used to appraise properties. A three month old comp is often based upon sales contracts 2-3 months prior. In other words, it's dated information.
In the not too distant past, in some areas, there was a strong momentum for home value appreciation. The next comparable home sold in the neigborhood was likely to be for more than the previous sale.
In appreciating markets, time is the seller's friend. It's better to be a following than a market setter, in an appreciating market.
In the current market, in most places, the momentum has shifted towards declining markets. The next comparable home sale in the neighborhood is likely to be for less than the previous sale. .
In depreciating markets, time is the seller's enemy. Sellers who chase the market down, usually end up with less net proceeds than if they had sold sooner.
We just sold in February of this year, where the market has been stagnant for a long long time. I know the guy I got to do my appraisal had to go back up to a year and find houses several miles away instead of our neighbhoorhodd to "get the value up to within 10k of our selling price". He said though he expected us to atleast come in 10K under our sale price, b/c he didn't think the bank appraisal would allow them to go back more than a year, but who knows. All I know is the bank appraiser was there for 5 min, me and him shot the **** about stocks and where they were headed, I told him everything I updated, and the total I put into it, and he was gone. No measuring square footage of our house or anything. Somehow, it came in $500 above our sales price.
Quote:
Originally Posted by middle-aged mom
May I ask when you sold?
Closed comps are used to appraise properties. A three month old comp is often based upon sales contracts 2-3 months prior. In other words, it's dated information.
In the not too distant past, in some areas, there was a strong momentum for home value appreciation. The next comparable home sold in the neigborhood was likely to be for more than the previous sale.
In appreciating markets, time is the seller's friend. It's better to be a following than a market setter, in an appreciating market.
In the current market, in most places, the momentum has shifted towards declining markets. The next comparable home sale in the neighborhood is likely to be for less than the previous sale. .
In depreciating markets, time is the seller's enemy. Sellers who chase the market down, usually end up with less net proceeds than if they had sold sooner.
All I know is the bank appraiser was there for 5 min, me and him shot the **** about stocks and where they were headed, I told him everything I updated, and the total I put into it, and he was gone. No measuring square footage of our house or anything. Somehow, it came in $500 above our sales price.
I'd tend to agree. Naive buyers or contractors like someone said in the post. I also wonder if the home was underpriced and they could have got more. No way to tell, just wondering. Either way, congrats to you.
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