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Went on the market yesterday morning. Had 5 showings and two offers yesterday afternoon. One guy offered me 3% below list price. I'm inclined to take it but considering it's been on the market less than a day, I may hold off.
Honestly I'm just kind of over it, and either way, I'll be pocketing over $30k after all is said and done.
Wife wants list price though, so... how do I politely tell her she's stupid?
If you had five showings and two offers on the FIRST DAY then you
I wanna sell my condo. Bought for $250K 11 years ago. It's assessed at $615K now. I got a ton of equity in it. Housing market is kind of at a stand still here in Vancouver though. I might just use that equity to buy another property and use as a mortgage helper.
How's the market there?
[QUOTE=Shogon]If you had five showings and two offers on the FIRST DAY then you
Do you trust your realtor?
If so ask them what they think. They should know the market very well. Be careful though. It's a highly unregulated industry and a lot of realtors just push you to close the deal regardless if its good for you or not, because a quick turnaround on a property is always a good deal for them.
[QUOTE=DaHeezy]I wanna sell my condo. Bought for $250K 11 years ago. It's assessed at $615K now. I got a ton of equity in it. Housing market is kind of at a stand still here in Vancouver though. I might just use that equity to buy another property and use as a mortgage helper.
How's the market there?[/QUOTE]
Fire.
I had requests for showings less than 20 minutes of it being listed. Have a 6th showing today (2nd viewing for someone who looked yesterday) and a 7th showing scheduled for tomorrow morning.
[QUOTE=UK2K]Fire.
I had requests for showings less than 20 minutes of it being listed. Have a 6th showing today (2nd viewing for someone who looked yesterday) and a 7th showing scheduled for tomorrow morning.[/QUOTE]
Sell it at list price or closer than your first offer, bro people are interested in buying your house, what's the rush? You gotta think like a Jew (no offense), don't look at it as pocketing 30k, look at it like they do that you're leaving thousands on the table :lol
Hold up a few weeks, if that many people are interested in your house, surely someone will offer the list price or close to it.
Getting a divorce?
Your wife sounds very mean and hard to deal with.
[QUOTE=Shogon]If you had five showings and two offers on the FIRST DAY then you
I'm in the same housing market as you and sold my house in March. Had easily 10 showings in the first couple days. 6 offers came from those showings. Two people got in a bidding war and actually offered me $11K over asking price.
Be patient. Accept any and all showings on your house and you should receive a decent offer.
[QUOTE=stalkerforlife]Getting a divorce?
Your wife sounds very mean and hard to deal with.[/QUOTE]
Her father is a Jew.
Thus, why she wants to squeeze every dollar out of it.
Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.
Give it 7 to 10 days. Be patient.
[QUOTE=Draz]Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.[/QUOTE]
It all depends on your market but I wouldn't feel the need to rush out and buy an investment property ASAP. There's very little chance home prices will rise significantly next year but there's a much better chance they will cool down next year. If the economy takes a hit and home prices see a definite downward trend, the more panicky home investors will start unloading properties causing a glut in the market bringing down home values even more.
[QUOTE=Draz]Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.[/QUOTE]
Check out betterment.com. Put a fraction of it there and let it grow.. Up to you how much - maybe a third or half or something not too crazy. You don't have to touch it for a decade and just let it grow. I don't have that sort of money but if I had 1/10 of that in cash sitting around in bank, I would use betterment.
she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.
Give it at least a week. You very well could get 3% more than what you're asking just because of interest and people bidding against each other. Patience.
[QUOTE=UK2K]Went on the market yesterday morning. Had 5 showings and two offers yesterday afternoon. One guy offered me 3% below list price. I'm inclined to take it but considering it's been on the market less than a day, I may hold off.
Honestly I'm just kind of over it, and either way, I'll be pocketing over $30k after all is said and done.
Wife wants list price though, so... how do I politely tell her she's stupid?[/QUOTE]
tell her I waited 6 years , and finally sold my lake home.
Take the money and run. If it comes up a little short , you could be paying tax's until it is sold, and it would be more than the difference.
I wouldn't be so quick to accept an offer that comes in under asking.
The buyer can try to weasel the price even lower during the inspection process, etc.
I like when listings state that there will be 2-3 group showings and that ALL offers will be reviewed on the Friday following the showings. This would put the pressure on the buyers (which sounds like you'd have a few) to get their best offers in right away.
Of course there's always the chance that you turn down this offer and nothing comes in at or above that price but that sounds unlikely.
*what's your asking price?*
[QUOTE=nathanjizzle]she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.[/QUOTE]
:roll: :roll:
I'd preach patience as several others have. 3% under asking within the first day is a non-starter unless the place needs a lot of work.
[QUOTE=nathanjizzle]she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.[/QUOTE]
:roll: :roll: :roll:
This
[QUOTE=nathanjizzle]she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.[/QUOTE]
Actually, she wasn't even on the mortgage or the title. She technically had no say.
But now that I work for the fed, this is no longer the case.
I make about $300 more than her. Still nice the wife is pulling in good money though, although she'll probably quit working once we have kids.
[QUOTE=Jasper]tell her I waited 6 years , and finally sold my lake home.
Take the money and run. If it comes up a little short , you could be paying tax's until it is sold, and it would be more than the difference.[/QUOTE]
It took you six years to sell your home???
:wtf:
[QUOTE=UK2K]Perhaps, but we are talking about a 3% difference in price.
I get that some people would like to hold out for those few extra dollars, but I'm the type to take what I've got and be happy with it.
Especially considering we never planned on getting list price to begin with. We had always assumed 3% less, but because of the huge attention we got on our house day one, now she's being greedy.[/QUOTE]
Hold off for more offers. There's no reason to rush, especially given the amount of immediate interest in the property you have seen. Those "few extra dollars" may very well cover closing costs for you. It's not greedy to seek to get as much value out of your property as you can.
House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.
[QUOTE=UK2K]House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.[/QUOTE]
You moving to Carmel, IN?
[QUOTE=UK2K]House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.[/QUOTE]
What kind of funding does buyer have in play? A conventional loan?
[QUOTE=UK2K]House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.[/QUOTE]
Why'd you sell?
Bigger place or just nicer?
[QUOTE=egokiller]You moving to Carmel, IN?[/QUOTE]
Nah. Moving back home to Louisville.
[QUOTE=stalkerforlife]Why'd you sell?
Bigger place or just nicer?[/QUOTE]
Both. Actually made an offer on a new house tonight. Its sitting on 2.6 acres, which is a little more my style. Not really into neighbors and I have fires in my backyard a lot, which was technically banned inside the city limits. Also, wifes parents still live in Louisville. Her father is retired and her mom doesnt work, so... free babysitting in the event that I one day decide to have kids.
I liked Indy but never really considered it home. Kentucky has always been home to me.
[QUOTE=Long Duck Dong]What kind of funding does buyer have in play? A conventional loan?[/QUOTE]
Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.
[QUOTE=UK2K]Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.[/QUOTE]
The VA loan is better for you but not always for the seller. If a seller is choosing between bidders that have pretty much the same offer, you will likely be picked last behind FHA, conventional and of course cash buyers. VA loans have gotten a lot better but there's still that stigma attached for them being slow. If the property is a little bit of a fixer upper some sellers won't even bother with buyers armed with FHA or VA loans in a hot market.
[QUOTE=UK2K]Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.[/QUOTE]
living off the government. government job, school paid by the government, mortgage by government program. no handouts though :roll:
[QUOTE=UK2K]Her father is a Jew.
Thus, why she wants to squeeze every dollar out of it.[/QUOTE]
Then all the more reason you should value her opinion.
[QUOTE=nathanjizzle]living off the government. government job, school paid by the government, mortgage by government program. no handouts though :roll:[/QUOTE]
Benefits for putting my life on hold. Its called... planning. :lol
If you ever decide you want to move out of your mom's basement, the military is a good start. Hell, if you can qualify for the Air Force, they're about as ***** as could be. They're basically boy scouts, so you could avoid the chance of ever having to see combat.
Good news is, if I play my cards right, I'll retire at 46. You're still young, you could do the same with a little initiative.
[QUOTE=Long Duck Dong]The VA loan is better for you but not always for the seller. If a seller is choosing between bidders that have pretty much the same offer, you will likely be picked last behind FHA, conventional and of course cash buyers. VA loans have gotten a lot better but there's still that stigma attached for them being slow. If the property is a little bit of a fixer upper some sellers won't even bother with buyers armed with FHA or VA loans in a hot market.[/QUOTE]
Actually, I used quicken loans to do my last loan, and my refinance 9 months after, and it was a smooth process.
Not sure how much of that is Quicken or the fact that the VA has gotten better at streamlining their mortgage practice, but I couldn't have been happier.
I'll be using Quicken again this time around. Everything done over the phone and online. Had my preapproval letter in two or three days. They keep in regular contact with both of my realtors.
They're really good.
Now the VA hospital system OTOH... is still a disaster.
[QUOTE=UK2K]Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
[B]Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.[/B][/QUOTE]
I put no money down on my house purchase in December 2017.
NO PMI.
Got a check back for $650 at my closing.
I've never been in the military. There are other ways.
[QUOTE=UK2K]Benefits for putting my life on hold. Its called... planning. :lol
If you ever decide you want to move out of your mom's basement, the military is a good start. Hell, if you can qualify for the Air Force, they're about as ***** as could be. They're basically boy scouts, so you could avoid the chance of ever having to see combat.
Good news is, if I play my cards right, I'll retire at 46. You're still young, you could do the same with a little initiative.[/QUOTE]
when i worked at uber, worked with a lot of ex-army/marines, they all called the airforce, the
OP, how much did your house sell for and what is the address?