Real estate going crazy.

[Realtor]

I am in a 62 house subdivision. Most homes are on an an acre. There are 5 Ranch homes like mine on full basement.
The home across the street is the same style as mine and sold for 226,000 2020.
I was offered 278,000 from a company and 284000 from Zillow last July. I turned then m down.
Now I just saw this week a ranch style home is 387,000 for sale by open door. The company that offered 278,000 now e mailed 334000 and have called everyday asking if I got the e mail or the letter with the increased offer.
We are looking up in Chattanooga and Blueridge. Evey home we see at the same price as ours that we like is under contract or crap. Homes I see that are in my price range don't appeal to me.
I realize that the fed is going to increase rates and home loan rates are going to go up. I see rates are a little over 3%. When they go up to 7% or more home values I expect will fall.
I hope they will but it may take a while for prices to settle.

If you want to sell it I offer 2% listing rate for odters, cheers

 

[james357]

If you want to sell it I offer 2% listing rate for odters, cheers

I don't understand what you mean by listing rate. Is that 2% commission when selling?

 

[NWSharpshooter]

I don't understand what you mean by listing rate. Is that 2% commission when selling?

Yes. Typically sellers agent charges 3% and buyers agent charges 3%. Seller pays both. He is offering to drop to 2% on his end saving you thousands.

 

[james357]

Yes. Typically sellers agent charges 3% and buyers agent charges 3%. Seller pays both. He is offering to drop to 2% on his end saving you thousands.

Houses sell in my neighborhood average 10 days. There is a house just exactly like mine except the porch has been inclosed. Asking 384,000
I am thinking of putting up a forsale by owner and ask 349,000 and offer 3500 for painting allowance at closing. That way I piggyback off the traffic from the home that is forsale. If that doesn't work I will list using an agent. The only thing g holding me back is I have not found a home I want.
Thanks for the info.

 

[Realtor]

Houses sell in my neighborhood average 10 days. There is a house just exactly like mine except the porch has been inclosed. Asking 384,000
I am thinking of putting up a forsale by owner and ask 349,000 and offer 3500 for painting allowance at closing. That way I piggyback off the traffic from the home that is forsale. If that doesn't work I will list using an agent. The only thing g holding me back is I have not found a home I want.
Thanks for the info.

If you need help call me 678-800-9883
I sold about 5 mil last year
Cheers and good luck

 

[james357]

If you need help call me 678-800-9883
I sold about 5 mil last year
Cheers and good luck

We are looking at a home in Helen tomorrow.

 

[unheard]

If you need help call me 678-800-9883
I sold about 5 mil last year
Cheers and good luck

Joe is a standup guy. I've not dealt with him as a realtor (yet, hopefully before too long), but as an ODT'r and an individual, you just about can't find a nicer, honest, dude.

 

[rightway1974]

They say 2008 cant happen again but I am hoping they are wrong. I just cant see how this doesnt backfire.

 

[lostchild]

They say 2008 cant happen again but I am hoping they are wrong. I just cant see how this doesnt backfire.

So, you’re wishing for another real estate and stock market crash? Hope you’ve diversified your 401K.

 

[rightway1974]

Yes