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Lot o points [158711]
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So what's the point you say "screw it, I'm selling" for yer
Feb 17, 2022, 12:50 PM
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house? I know, I know, it's a moot point if you can't buy something to replace it with, but I'm getting really near that point where it's a legit consideration.
Got an offer from open door a few weeks ago that was likely higher than I would have listed it for myself. Sat on it for a couple weeks and got a "your offer has been revised" email....in two weeks they offered 7% more than they offered originally.
They appear to be a legit company, and even after subtracting the 7-8% off the top that my research has indicated usually needs to be factored in with them (5% "convenience" charge + a couple percent for repairs) I'm looking at a home value that's almost tripled since I bought it in 2013. Legit considering buying some land further out from the city and building or just renting until this whole thing comes tumbling down.
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All-In [40674]
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Don't sell to opendoor
Feb 17, 2022, 12:53 PM
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They will nickel and dime you down to about the market value after their inspection.
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Lot o points [158711]
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Yeah, but in doing some digging, it looks like the
Feb 17, 2022, 1:23 PM
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repair requests usually come in around 2-3% of purchase price, so if I go in eyes wide open about giving them 7-8%, and I'm ok with that, there's a definite value to the convenience of not having to prep my house for selling, do showings, etc. I suppose if they did try to play hide the peanut after the fact with repair requests I could just walk.
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All-In [40674]
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"Prepping a house to sell"
Feb 17, 2022, 1:57 PM
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isn't what it used to be. If you have a decent house with relatively new stuff... you're going to be peachy.
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Oculus Spirit [82675]
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From what I have seen, that mostly means not being there.
Feb 17, 2022, 2:51 PM
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Except for last week, and we were scheduled to look at a house and the uncle was upstairs in bed, and they were like, "y'all can come in and look around. He won't bother you"
I remember repainting my walls and all my baseboards before I sold my house....What a joke. Anymore, most folks don't even take the dirty pots and pans out of the sink.
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Orange Blooded [4799]
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Orange Blooded [4799]
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You can also do as is and no inspections.
Feb 17, 2022, 2:32 PM
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And you will still have multiple offers.
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All-In [47524]
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Re: So what's the point you say "screw it, I'm selling" for yer
Feb 17, 2022, 12:59 PM
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Oculus Spirit [82675]
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I don't think it will come tumbling down.
Feb 17, 2022, 1:06 PM
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I mean not unless everything else does, too. And if that happens I hope you bought a bunker, because it's going to be like the walking dead.
Remember...you don't need to hoard food and water if your neighbor already has, and you have more guns and are a better shot than him.
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110%er [9328]
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Heisman Winner [136948]
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Oculus Spirit [82675]
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I consider it a "how to" guide to the coming apocalypse.***
Feb 17, 2022, 2:52 PM
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Oculus Spirit [76577]
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Don't sell to Open Door on account of them being the
Feb 17, 2022, 1:08 PM
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devil. If I woke up to find my house was suddenly 200k more than I paid for I'd sell and worry about the other part later. Gotta go before capital gains kick in. Not sure that brrr method works on main dwellings.
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Oculus Spirit [83590]
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Thinking of thinking seriously soon about selling and moving
Feb 17, 2022, 1:13 PM
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back up North to the real South. I'd be fine with Edgefield (wife would never go for that). Wife is from Appling GA, smaller than Edgefield, she would never go for that either.
She wanted to move to Tampa, but I'd like to be able to visit the CSRA or Clemson by car for a weekend. Tampa, like Naples, still feels like the end of the earth.
I may be able to talk her into Aiken, Augusta, or Greenville. She'd never go for Clemson.
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All-In [47524]
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I hear Hardeeville is beautiful this time of year***
Feb 17, 2022, 1:15 PM
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Oculus Spirit [83590]
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Not bad. Close to Beaufort and Savannah.***
Feb 17, 2022, 1:30 PM
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All-In [49282]
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Lot o points [158711]
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is that near Whiskey River?***
Feb 17, 2022, 1:24 PM
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Oculus Spirit [83590]
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I was there the Thursday night before UGA game back in Sep.
Feb 17, 2022, 1:25 PM
[ in reply to I believe you and I both know what the answer is here ] |
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Had some good scotch and beer.
There was a band in the Alley, but it seemed the whole valley was there. I made a rhyme. Valley in the Alley.
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Oculus Spirit [88152]
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30% me thinks
Feb 17, 2022, 1:16 PM
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Give me 30% more than what I think it is and I'm VERY tempted.
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All-In [48512]
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If'n ya gone sell, better get going soon. Mortgage rates
Feb 17, 2022, 1:51 PM
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are climbing....Dood on Fox Business predicted 8-10% within 12 months.
Housing prices will plummet at those rates.
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All-In [40674]
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Housing prices aren't going to plummet
Feb 17, 2022, 2:11 PM
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Just because interest rates go up. That's not how supply and demand works. Owning a home right now is turning into a caste system of the haves vs. have nots. This is going to continue until the demand is satisfied by new builds.
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All-In [48512]
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If interest rates increase dramatically demand will drop.
Feb 17, 2022, 2:33 PM
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Folks will sit on the sidelines and rent waiting on the rates to drop.
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Oculus Spirit [82675]
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If it costs more to rent than own, most won't.
Feb 17, 2022, 2:55 PM
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I rented by choice, because it was at the beach. My rent was expensive when I moved in. 17 months later, I couldn't by this house for what I am paying in rent. Comparatively, my rent is about average now.
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All-In [40674]
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Thats a novel idea
Feb 17, 2022, 3:04 PM
[ in reply to If interest rates increase dramatically demand will drop. ] |
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But the end goal will ALWAYS be to own a home. Nobody that owns a home, except stupid millennials that would rather pay $7 for coffee and eat out every day rather than save money, is ever like, "yeah, renting is better and more affordable".
Like I said, owning a home is the new caste system.
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All-In [48512]
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Will be interesting to see if 8-10% mortgage rates slows
Feb 17, 2022, 4:07 PM
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the housing market. You may be right, you may be crazy ($1 to Billy Joel).
We'll put a virtual beer on it.
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Oculus Spirit [82675]
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If they make 4-5 increases this year at .5 basis points each
Feb 17, 2022, 4:24 PM
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(and that's been what they've said they will do) that's only a 2.0-2.5% increase in rates. What's that...a $100/month per hundred grand?
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110%er [7401]
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We are close to that point. I'm not sure how close.
Feb 17, 2022, 1:52 PM
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Our house has increased 40-50% in value from when my wife bought it (although we have done some renovations that cut into the equity). It is very much a starter home and we will likely outgrow it in five years, max. The problem is that we love our neighborhood and can't afford a bigger house in the same area.
If building costs were not through the roof I would push hard to move 30-45 minutes out of town, buy land, and build. As it is, I'm hoping we can snag a fixer upper in our neighborhood and renovate/add on.
Be cautious about renting. My parents bought a house from some folks who were going to rent until they found something in their price range. That was over a year ago and those folks are still in their apartment.
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Oculus Spirit [82675]
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Preach.
Feb 17, 2022, 3:02 PM
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We thought we'd be breaking the lease after 6 months here. 17 months later, I'll probably be signing a new lease somewhere else next week.
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Oculus Spirit [98831]
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Lol. When we bought it...the current zestimate
Feb 17, 2022, 2:00 PM
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Today, double the current zestimate.
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All-In [34486]
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The $3400 quote I got to replace a garage door, motor
Feb 17, 2022, 2:03 PM
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and for the lead disposal this morning.
If my garage door has lead in it, everything does.
Does a garage door have to work to pass inspection? Asking for a friend.
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Heisman Winner [136948]
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Remove the garaged door completely.
Feb 17, 2022, 2:48 PM
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Hang hippie beads across opening. Like this, but garage-ier...
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Oculus Spirit [79857]
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I'd sell if I could get something lake front in the same
Feb 17, 2022, 3:17 PM
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neighborhood. Our house has more than doubled, problem is so have all the other houses. We're REALLY nice to the older folks who are lake front, maybe they'll take pity on a poor lakebum and his fam in their wills.
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Lot o points [158711]
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That's the problem...my house is now worth more
Feb 17, 2022, 4:27 PM
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than I'd ever pay for a lakefront house in this area, and certainly more than I'd pay for my regular old house. Not doing a humblebrag, we're all experiencing it, but it just doesn't make sense to me---I'd love to go further out in the country, where 3k sq feet on 5 acres with a pool and a separate pole barn shop with 4 bays used to be $400k tops a couple years ago and is $900k now.
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CU Medallion [64837]
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If I can get what they're asking for the Murder Plantation
Feb 17, 2022, 3:58 PM
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in Colleton County, I'd go down there in a skinny minute.
$2200/acre with mature pines and hardwoods, plus a really nice 5000sqft house and a 1200sqft guest house? plus barns and outbuildings, and a kennel to keep my kids in?
Money.
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