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Old 01-25-2014, 07:42 AM
 
93 posts, read 179,658 times
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We own a home on the toledo side of cranberry...we are on a double corner lot and have a 2200 sq ft house with a pool. We were thinking a price of over 200k with the comps....are things appraising now? I know when we bought 3 years ago it was a bear getting things appraised, in fact, we lost many houses because they didn't appraise and the sellers were not willing to lower prices and we didn't have the extra money to bring to the table (even if we did we didn't want to go into negative equity right off the bat.)

My questions are:

are there still issues having homes appraised?

how is the market for homes for sale around 200k, are they sitting? moving?

Any insight would be fabulous. Thank you!
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Old 01-25-2014, 08:05 AM
 
Location: sittin happy in the sun :-)
3,641 posts, read 6,652,390 times
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not a realtor but

age of home
that's 2200 under AIR ?
kitchen new or old?
granite?
stainless appliances ?
bathrooms , what sort of level? ie pop in fibreglass shower or tile shower, nice cabinets with granite or laminate ?

you can pay to have a home appraised separately
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Old 01-25-2014, 08:15 AM
 
93 posts, read 179,658 times
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2200 sq ft under air
tile throughout laid on the diagonal
carpet in bedrooms
3br with a den
2 car garage
granite for kitchen and bathrooms
stainless for all appliances and all less then 3 years old.
pool with cage enclosure
home was built in 2002
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Old 01-25-2014, 12:03 PM
 
Location: sittin happy in the sun :-)
3,641 posts, read 6,652,390 times
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looking at the MLS there are 5 pool homes similar age 2150 sq ft and up (private sale)

190-235k
you are in the right price range
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Old 01-25-2014, 01:45 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,079 posts, read 6,240,733 times
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If you have concerns about your home appraising, the suggestion to have an appraiser come in and do an actual appraisal for you is a good one. Costs vary, but expect to pay in the $350 - $450 range for an appraisal. Be sure to hire an appaiser that actually works in North Port and is familiar with the neighborhoods so that they know what are true comps.

In general terms, once you get at or above the $200,000 price point you will start competing with builder inventory - in Nort Port, Venice and even perhaps in south Manatee county (people looking for lesser commute times to Sarasota). If buyers are looking at a 2002 built home (which is before the last building code changes in 2003) vs a new or newer construction home in a similar price range, buyers will usually opt for the newer home even if they have to spend a little more. Your roof will be hitting 15 years old in a few short years, and insurance rates have been going up substantially once a roof is 15+ years old, even if it still has economic life left. AC system will probably need replacing soon, as will water heater, etc. Buyers will typically factor those things in when comparing one home to another. Remember, the goal is to sell your home, not to just list it.
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Old 01-25-2014, 06:29 PM
 
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When we bought this house in 2011 the AC was replaced. I didn't know that about the roofs...maybe it's good we are thinking of leaving this house.

We had an opposite senario about going through a builder...we were actually building when we found this house. The builder was making SO MANY mistakes (they missed an exterior door, and a HUGE bay window we paid EXTRA for...) on many many failed inspections that we walked from the contract. It was a nightmare. But I can relate to the idea of "if I am paying 200 for THIS, I can maybe get EXACTLY what I want for that price or a tad more.
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Old 01-25-2014, 07:15 PM
 
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Quote:
Originally Posted by mylittletyguy View Post
When we bought this house in 2011 the AC was replaced. I didn't know that about the roofs...maybe it's good we are thinking of leaving this house.

We had an opposite senario about going through a builder...we were actually building when we found this house. The builder was making SO MANY mistakes (they missed an exterior door, and a HUGE bay window we paid EXTRA for...) on many many failed inspections that we walked from the contract. It was a nightmare. But I can relate to the idea of "if I am paying 200 for THIS, I can maybe get EXACTLY what I want for that price or a tad more.
Want to do a public service and name names? I am sure those of us evaluating builders would be grateful to be able to cross that name off the list.
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Old 01-25-2014, 07:49 PM
 
93 posts, read 179,658 times
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It was Adams Homes...so many warned us about them but they told us everything we wanted to hear. There are even other posts here on the forum about them....The day we signed the contract I asked what would happen WHEN they house didn't appraise, not IF the house doesn't appraise. "Oh that NEVER happens!" They said. Well, we tried to go through their lender to get incentives and they called us even before the lot clearing because the lender did an eval and said that the sales price was too high for what the house was. We have excellent credit, so don't misunderstand and think that it was our debt/income ratio or something. THEIR lender wouldn't even approve it! After months of delays and screw ups we finally INSISTED that they do an appraisal and low and behold....it came in almost 30K LOW, and they had the balls to tell us to bring the difference to the table. Um, HELL NO! I ASKED ABOUT THIS THE DAY WE SIGNED THE CONTRACT!!! They even got their legal team involved and tries to sue us. To save tens of thousands on proving a point, we walked and lost out deposit even though we were sure if we pressed on we would be capable of getting it back...but we were not going to spend 10K to fight for less then that based off of principle. We mentally included that loss into our purchase price of this home and we still got an AMAZING deal on this house.

I used to be a licensed real estate agent before we moved to FL, I worked with clients in Maryland that built homes, I KNOW the process is not without its frustrations and delays...but Adams was a horrific experience. Period. Every time my phone rang and it was our sales guy I CRINGED to answer while asking myself...what's wrong THIS time.
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Old 01-25-2014, 07:55 PM
 
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Thanks for the info. Is Adams still in business?
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Old 01-26-2014, 05:17 AM
 
Location: sittin happy in the sun :-)
3,641 posts, read 6,652,390 times
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Adams homes ? They're huge (HUUUGEEE oops sorry Caroline) down here
basic , bog standard,cheap ,cookie cutters


if you are from Cardiff welsh wales ,think Wimpey or Barratt
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