Housing Market

[sublimebeer]

I'm on the fence. I want to put the "FOR SALE" sign in the yard but I have a real problem giving someone 6% just to pass out some business cards and put some balloons out front. On a $200K home getting $12K is bizarre. Yes , agents I dont believe you earn that much. I'm looking at FSBO or maybe a discount agent.

Good luck. IF you get a good agent you wouldn't feel that way. They have access to way more stuff than a FSBO. My fiancé works for Harry Norman. They have well over 500 websites. That's not including publications etc. there are a few members here that she has worked with. I bet they would back me up on that.

 

[sublimebeer]

Ps. With changes made to the appraisal process and new guidelines that have just changed in the last few months.. You will see things slow down a bit.

 

[I.P. Freely]

Ps. With changes made to the appraisal process and new guidelines that have just changed in the last few months.. You will see things slow down a bit.

Do tell.

 

[kuduman]

How close to the Zillow "Zestimate" did you get?

Zillow is often way, way off-- sometimes low, sometimes high.

 

[eldrima]

Zillow is often way, way off-- sometimes low, sometimes high.

With information available online...everyone is an expert. Zillow actually admits on their site how inaccurate their Zestimates are:

http://www.zillow.com/zestimate/

 

[harrycalahan]

I bought my house in Dec '11. Installed new windows and a roof and had it appraised in Jan '13 for $90k more than what I bought it for. Made me feel good but I'll probably never see the money. We'll have to wait till the dust settles after the stock market takes its 7 year dump this fall.

 

[mtgldr]

Make sure to vet out the investor offers. There is a large hedge fund thay routinely submits cash offers on properties that hit the market that loosely fit into their investment profile. They submit them without doing a site visit and often use the due diligence period to terminate with o penalty. Make sure they or their buyer have seen the property and are not just going to tie up your listing during the important first week or two on the market.

This is so true. I've had a few clients over the past few months that got a reasonable offer one their home only to have the home inspection done and the buyer comes back with a lowball offer due to repairs. From what I've seen, it's a common strategy that's used in the investor world.

 

[mtgldr]

The Lender I work for offers "Home Scouting" exclusively in Atlanta at no charge to our clients. You can search the same listings MLS offers as well as homes that have sold in your area, set up alerts etc.. It is a great tool if you want to see what the market is doing in your area. If you have an android or iPhone you can go to the app store and download it, use code 6787251625 and I will be the only one that see's your account. I only contact people that initiate contact with me so you don't have to worry about getting hammered with calls and emails. We do not sell your information, ever.

if you would rather use a desktop, this is the link for a PC.
http://hbsr.homescouting.com/myapp/bd67300e-d35f-4076-aa83-3b2abc4a07a8

I am a lender not a realtor, there is no compensation or any incentive to me if you use this, I am simply offering it if you want to take advantage of it. Zillow data is only accurate about 50% of the time, Trulia is better than Zillow right now but after the merger I'm not sure how it will all settle out. The data on this app has been found to be the most accurate available direct to consumers.

Scott

 

[GeauxLSU]

Mall of Georgia, Collins hill schools.

I live in CH district as well. One house went up in the neighborhood and sold quickly (moved out last weekend). The only other house listed is our neighbor's house. No contract yet but lots of activity in the couple of weeks it's been listed. If it sells for anywhere near their asking price it's going to be REAL hard to not pack up and get while the getting is good. I have a son in school though so it would be very hard to leave this district.

 

[eldrima]

This is so true. I've had a few clients over the past few months that got a reasonable offer one their home only to have the home inspection done and the buyer comes back with a lowball offer due to repairs. From what I've seen, it's a common strategy that's used in the investor world.

I had this happen 2 years ago with one of my listings. Day 2 on the market got a full price offer from well known agent with lots of radio and billboard advertising representing hedge fund buyer. They had not stepped foot in the house nor had their buyer. "Yeah they are serious, have cash to close, quick transaction." No other offers on opening weekend so move forward with that buyer.

10 day due diligence period and on day 9 field rep for the investor shows up to do a 15 minute run through the property to evaluate it. Next day get a termination notice...they decided the home didn't meet their "profile". I have not made that mistake again.

It seems the hedge funds are pulling back their acquisitions big time on the retail side as well as buying at the court house steps. They have had the biggest impact on driving up prices in the Atlanta market while shrinking the inventory. I don't want to be pessimistic but the term "market manipulation" comes to mind. Once you start seeing them liquidating it will be time for concern.