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God I hate House Hunting!

Old 02-09-2015, 12:47 PM
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Default God I hate House Hunting!

We've been looking for a new home for a few weeks now and nothing really interested us until Friday.(I can't believe the money people are asking for junk!)
Found our perfect home! It's a foreclosure on 2.5 acres, non HOA community, across the street from Wye River, modest home amongst million dollar homes, brand new gourmet kitchen w/ HUGE island, huge master suite w/ 2 walk-in closets that are as big as my current bedroom. Agent just called and said there are 5 offers on the house already.
Been on the market for 9 days.

We're offered $16k more than asking price and let the chips fall where they may!

Wish us luck!
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Old 02-09-2015, 01:17 PM
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I hope it works out for you guys
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Old 02-09-2015, 01:26 PM
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What are the annual taxes on a property like that? Good luck.
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Old 02-09-2015, 01:56 PM
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Real estate prices along the Wye River have always been sky-high.
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Old 02-09-2015, 02:27 PM
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I just let my kids shop and pick our house, easier
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Old 02-09-2015, 02:34 PM
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Originally Posted by Just1more View Post
We've been looking for a new home for a few weeks now and nothing really interested us until Friday.(I can't believe the money people are asking for junk!)
Found our perfect home! It's a foreclosure on 2.5 acres, non HOA community, across the street from Wye River, modest home amongst million dollar homes, brand new gourmet kitchen w/ HUGE island, huge master suite w/ 2 walk-in closets that are as big as my current bedroom. Agent just called and said there are 5 offers on the house already.
Been on the market for 9 days.

We're offered $16k more than asking price and let the chips fall where they may!

Wish us luck!
You poor poor 1%'er. 1st world problem.
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Old 02-09-2015, 02:37 PM
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Originally Posted by Just1more View Post
...snip...

Agent just called and said there are 5 offers on the house already.

....snip....
And you believed them? Don't you read THT? All realtors are scumbags.
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Old 02-09-2015, 05:26 PM
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Rule #1 is NOT to call the listing agent. Rule #1A is to find an agent to work as your buyers agent.
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Old 02-09-2015, 05:29 PM
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Originally Posted by Deeper Tog View Post
Rule #1 is NOT to call the listing agent. Rule #1A is to find an agent to work as your buyers agent.
this
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Old 02-09-2015, 08:04 PM
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Hope it works out neighbor. (Chestertown)
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Old 02-10-2015, 07:41 AM
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Only thing worse than house hunting is house selling. Everyone wants to buy your house and is "ready to buy now" but sends an insulting low ball offer.
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Old 02-10-2015, 09:44 AM
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I'll take hunting and selling over having to pay for.
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Old 02-10-2015, 10:01 AM
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Originally Posted by Deeper Tog View Post
Rule #1 is NOT to call the listing agent. Rule #1A is to find an agent to work as your buyers agent.
Rule #2 If possible try to not have your "Buyers Agent" work for the same company as the listing agent. They both work together they will talk to each other and their boss will do whatever it takes to keep all of the commission in house.

Rule #2 A) Tell your agent as little as possible, if you let them know your bottom $$ on selling they will sell it at that price, if you are a buyer and let them know your top dollar they will go right to that price. In each town 90% of the agents all know each other pretty well both of their goals is the get the deal done and price does not really matter they only get paid if the deal gets done. Whatever you tell them assume it will be used against you to close the deal.

Real Estate Agents work on a low number of transactions and a high payout per transaction. One or Two extra deals pushed over the goal line per year means the difference between zero discretionary income and a 3 nice vacations while maxing out their Retirement for the year. If they have a choice between forcing you to take your bottom price and them getting the commission or letting their listing expire your selling that property.
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Old 02-10-2015, 12:19 PM
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Few weeks???????

Took us 9 months!
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Old 02-10-2015, 12:36 PM
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Originally Posted by Deeper Tog View Post
Rule #1 is NOT to call the listing agent. Rule #1A is to find an agent to work as your buyers agent.
As an agent, this. Listing agents often bend the line as far as they can without being able to be proven as unethical. I don't practice that way, but many do. I don't even really take it seriously when they say 'we have an offer coming in' and I want it in writing.

Originally Posted by captpepin View Post
Rule #2 If possible try to not have your "Buyers Agent" work for the same company as the listing agent. They both work together they will talk to each other and their boss will do whatever it takes to keep all of the commission in house.

Rule #2 A) Tell your agent as little as possible, if you let them know your bottom $$ on selling they will sell it at that price, if you are a buyer and let them know your top dollar they will go right to that price. In each town 90% of the agents all know each other pretty well both of their goals is the get the deal done and price does not really matter they only get paid if the deal gets done. Whatever you tell them assume it will be used against you to close the deal.

Real Estate Agents work on a low number of transactions and a high payout per transaction. One or Two extra deals pushed over the goal line per year means the difference between zero discretionary income and a 3 nice vacations while maxing out their Retirement for the year. If they have a choice between forcing you to take your bottom price and them getting the commission or letting their listing expire your selling that property.
Rule#2 is complete BS, at least with how I perform my business. The second half of that is a flat out lie.

The next paragraph, also wildly insane BS. I can't help my client get the best deal possible unless I know what they are working with. Just because a house is $250 and they can spend $240 doesn't mean I will let/suggest they spend that if the house isn't worth it.

You are forgetting a very important thing as to why what you are saying is nonsense. We build business and SURVIVE based off of happy clients and them referring their friends. Maybe 1-3% of top agents got there by being predatory.

Feel free to continue to generalize and stereotype and spitting libel based on ignorant conjecture.

Can we get a middle finger emoji here?
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Old 02-10-2015, 12:44 PM
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Home prices are nuts right now. But with that being said, people are actually buying them at these prices. They gotta put the money somewhere i guess.

one of my multis actually just closed today. I listed it in nov, got an offer the second day for almost asking, And i listed WAY more that i really thought it would sell for. It has been a pain in the balls getting this bastard to close on it tho.

got a contract on a single primary right now that i feel i did well at, we'll see what the inspection and appraisal look like today tho.

Hardest part is finding decedent return properties to 1031 for my last property. Foreclosures i dont feel have gotten any simplier. To me theyre more copmplicated than ever. Maybe i just need a mentor in S.FL. Any takers??

God, this bag of gold is so friggin heavy!
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Old 02-10-2015, 12:48 PM
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Originally Posted by ScarabChris View Post
Only thing worse than house hunting is house selling. Everyone wants to buy your house and is "ready to buy now" but sends an insulting low ball offer.
Thats me with investments lol. make 20 low ball offers, one will bite.

p.s. cruised by your place last week. Nice setup
that place i was looking at (Yellow house father up) still hasn't sold, guy is too proud to take what its worth.
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Old 02-10-2015, 01:05 PM
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Originally Posted by ScarabChris View Post
Only thing worse than house hunting is house selling. Everyone wants to buy your house and is "ready to buy now" but sends an insulting low ball offer.
Yep. We'll see next week when ours is listed. Considering the crap we have looked at the past few weeks, The buyer of our house will be very fortunate and I ain't budging at all! New granite tops, new carpet throughout, and new interior paint (neutral). Money talks and BS walks!

I swear, last week we looked at a house that someone was living in (nice lady) but she must have had 7 china cabinet looking things FILLED with just about every type of flat ware and coffee cup you could think of. Made it about 4 steps inside and didn't like the house but I told my wife "Shit, it would take this lady 6 months just to pack up all her shit!"
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Old 02-10-2015, 01:09 PM
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Originally Posted by Deeper Tog View Post
Rule #1 is NOT to call the listing agent. Rule #1A is to find an agent to work as your buyers agent.
Why not represent yourself and save half a commission?
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Old 02-10-2015, 01:22 PM
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Good luck, hope it goes your way.
I will chime in on the agent thing a little. In a real estate transaction, the agents and brokers are all working for one person, the seller. Why, because that is who is paying them.
If you employ a "buyers broker/agent" then you are the exception. That person or firm is working for you. It always has amazed me how few agents do not understand the first relationship, and of course almost no one outside the business of real estate knows this.

It is also very explicitly spelled out it the Real Estate Code of Ethics [at least in Md.]
I used to know the page # because so many people would be so doubtful when I would tell them this.

By the way great area, I know some people right near there, off Carmichael [sp?] Road.
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