Skip to main content

Dumb ?- about pricing

I'm in Abilene TX & have never bought a home in my life so I will admit, I'm no expert. We went and saw a house tonight that was put on the market in Nov. 2018 for 210k. The house was built in 2016. Owners didn't note any repairs or anything done to the house but have listed it at 224k which, to me, feels a bit high. This is 129.00/ square foot and most places near there are selling for around 130.00/sq ft for but they're brand new builds. We asked realtor about pricing and she said that the listing realtor looks at all of that before they make the price and that it seems pretty comparable to new builds on the market.

I understand her logic but I feel like it's kind of a cop out. It's not a new build. It's not in terrible condition by any means but the house has been lived in and has some wear and tear (plus a septic that'll likely need cleaned out). She didn't deter us from putting in an offer, or even negotiating, but I just want to be sure we aren't being delusional in our thinking. I know y'all can't tell us exactly what our market is doing but I was hoping you might be able to tell me if a 4 year home should be valued as a brand new build. Is there something I'm missing?

submitted by /u/riddlemethis6
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/evxe66/dumb_about_pricing/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear
1 comment
Read more

Fast Rising HOA Fees on NYC Condo, No Budget Provided

My wife and I are first time homeowners and could use some advice on a situation we've been having with our management company and Board. We bought a condo in Brooklyn two years ago, and since then our HOA fees have climbed dramatically. In August of last year, our fees were increased by ~30% and just yesterday we received notice that this new figure would be increased by 16% as of June 1st. The by-laws for our building state that ten days before such a change goes into effect, the Board must provide unit owners with the itemized budget upon which the new numbers were based. This didn't happen last year, and when I asked the management company about it, they just kept vaguely insisting the Board had done due diligence. After I kept pressing, they finally sent a budget that was several years old, so obviously not the one that the new numbers were based on. When I asked the management company for contact information for the Board to get further clarification, I was told that th
Post a Comment
Read more

How to create fidelity investments current bank statement for lender during escrow

I transferred a certain amount to my bank account to complete the minimum down payment required. The bank wants a current statement of the transaction. Unfortunately, fidelity only does quarterly statements so a December statement is not available and we are due to close next week. I called fidelity and they they can only provide a letter but the bank said that won’t suffice. Any way I can find or make one of my own that has my account number/name along with all the recent month’s activities? submitted by /u/bodaciousbeans [link] [comments] source https://www.reddit.com/r/RealEstate/comments/zmnnqo/how_to_create_fidelity_investments_current_bank/
Post a Comment
Read more