Skip to main content

How'd we do? Raleigh 3 bed / 2 bath 407K - 0.69 acres of land

Hey guys! I've lived in Raleigh for about 2 years and my mother and I have just signed the contract to purchase a home in Raleigh at 407K. The house was in the 370-390 range for asking(i'm masking this for anonyminity) but my mother fell in love with it, there with multiple other offers, so we went in aggressively + wrote the sappy letter + did the due diligence fee (NC specific thing if you're unsure of what this is).

​

The house is kind of small - 1485 square feet, but has a couple things that are nice. It has a nice pool, a decently large outside deck, solar power, and a tesla power battery bank. It has 0.69 acres of land and no HOA so we're going to put a fence around the back of the property to make it more livable and safe for our dog. The neighorhood is very calm and quiet, it is relatively close to the highway to get to downtown Raleigh but doesn't have sound of traffic due to being on a long cul de sac type road and further embedded in it. The house has 3 beds 2 bathrooms.. The inside is in good condition but the kitchen is a little small. I thought about posting the link to Zillow but I don't want to be doxxed or be dangerous - but maybe that's me overthinking it.

​

I wanted some outside POVs on the overall house. I'm thinking because of the land - 0.69 acres, and Raleigh behind a very hot market and no HOA, that this was a really solid investment and it is likely to further go up in value and certainly retain value.

Thoughts?

submitted by /u/stardoge42
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1cbrlju/howd_we_do_raleigh_3_bed_2_bath_407k_069_acres_of/
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