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

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more