🏡 Better Homes OFFICIAL real estate bs discussion

[blue-sun]

Was looking at properties around town, just to see what’s out there and how values are. Saw this house. 99% identical floor plan as ours, same “model” just with slightly different options. We looked at 3 houses in this same neighborhood when we found ours.

This is about 10 min away from our current house.

No real updates inside, ours is nearly fully updated inside. We refinanced recently to get lower rates and a 20 yr term, appraisal at that time for our house was 440k.

I’m very curious to see what this closes at.

291 Windham Cir, Yorkville, IL 60560 | Zillow

291 Windham Cir, Yorkville IL, is a Single Family home that contains 3336 sq ft and was built in 2014.It contains 4 bedrooms and 4 bathrooms.This home last sold for $479,000 in May 2022. The Zestimate for this Single Family is $513,900, which has increased by $5,255 in the last 30 days.The...

www.zillow.com

So looks like this house just sold last week for 479k. This is crazy to me.

 

[Jimy Bilmo]

Still have two other buyer's agents that have indicated they're going to send an offer, but just received an offer from a 3rd agent for full asking price. My realtor sending it to me now, need to understand their closing expectations since I want to stretch this out as far as possible (though that certainly is not a deal breaker)

Maybe wait a few days and let those other offers come through as well. Then do a FINAL offer due by X date.

 

[Chester Copperpot]

Offer accepted on a place. We offered low, they counter offered but still 20k under asking and took it last night. 1600sqft, nice dry/cool basement, 3 car detached garage, 10 acre plot with a ~200 acre conservation behind it.

Inspections and water/well/septic scheduled for next week. Not making any moves until those come back clean. Pretty sure I just aged a year in the past 4 hours of making calls and dealing with figuring out a timeline.

StarLink is the only "fast" internet at this house but I called an ISP asking about 1gig up/down fiber, that doesn't service the house, and she said friends and family have StarLink in this area and it's very very good. My next best thing is 12mb Frontier DSL.

 

[OffshoreDrilling]

Good luck man, hope it all comes back cherry!

 

[DEEZUZ]

 

[FirstWorldProblems]

First offer was asking price with a june 24 close (early, not ideal but i sure AF am not going to die on this hill)
My agent told the pending 2nd offer to try and make mid-July closing work and that it would need to be over asking to be accepted
That agent sent the offer to their client for signing and said in the screenshot that "It's a really strong offer, I hope we get it"

One more showing scheduled for today

 

[Chester Copperpot]

Lumbersexual*

Nothing but pine and hardwood on 8.5 acres of it.

 

[FirstWorldProblems]

Offer accepted on a place. We offered low, they counter offered but still 20k under asking and took it last night. 1600sqft, nice dry/cool basement, 3 car detached garage, 10 acre plot with a ~200 acre conservation behind it.

Inspections and water/well/septic scheduled for next week. Not making any moves until those come back clean. Pretty sure I just aged a year in the past 4 hours of making calls and dealing with figuring out a timeline.

StarLink is the only "fast" internet at this house but I called an ISP asking about 1gig up/down fiber, that doesn't service the house, and she said friends and family have StarLink in this area and it's very very good. My next best thing is 12mb Frontier DSL.

Awesome, congrats! Gotta be a huge weight off of your shoulders.

 

[Chester Copperpot]

The impending doom of "I have to be out of my house with no where to go" has lifted. Now it's just typical moving stress and hoping timeline-wise, everything works out.

 

[DEEZUZ]

What type of septic inspection you doing?

 

[Chester Copperpot]

No fucking idea. Agent gave us a list of inspectors and Megan called all of them to schedule all the shit while I was calling the lenders and the VA trying to get answers on timeline shit. Trying to push the close of my house as close to the close on the new house but with enough time for all the paperwork to flow properly. Also, trying to pay as little amount of $100/day to RedFin that I have to to stay in the house.

 

[FirstWorldProblems]

530p showing today is also putting in an offer

 

[DEEZUZ]

Fuck it. It's going for half mil

 

[FirstWorldProblems]

Fuck it. It's going for half mil

Other neighbor (also a realtor) said to do him a favor and get it to 400k lol. I told him no way, then he said he could see 390+

All of a sudden the house I’m building seems like a bargain! (Ok not really)

 

[Chester Copperpot]

House we threw a (offensively) lowball offer on is still sitting, offered 300. Original owner for 24 years, was never reassessed, zoned ag, and basically doubled in "value" since it was built. We were scared we'd be on the hook for a 2-3x tax bill and possible rezoning. We saw this house pop up after it was up for 15 minutes, were on our way up the next day anyway and included it on our tour. They had our offer in literally less than 24 hours, rejected our offer, and now it continues to sit. Houses over 350 in Wisco sit until they lower it to usually below 325. 250-300 sell within a day or two. 300-350 usually about a week, 350+ just sit.

7893 6th Ct, Waupaca, WI 54981 | realtor.com®

View 1 photos for 7893 6th Ct, Waupaca, WI 54981, a 3 bed, 3 bath, 1,932 Sq. Ft. single family home built in 1997 that was last sold on 08/01/2022.

www.realtor.com

 

[FirstWorldProblems]

House we threw a (offensively) lowball offer on is still sitting, offered 300. Original owner for 24 years, was never reassessed, zoned ag, and basically doubled in "value" since it was built. We were scared we'd be on the hook for a 2-3x tax bill and possible rezoning. We saw this house pop up after it was up for 15 minutes, were on our way up the next day anyway and included it on our tour. They had our offer in literally less than 24 hours, rejected our offer, and now it continues to sit. Houses over 350 in Wisco sit until they lower it to usually below 325. 250-300 sell within a day or two. 300-350 usually about a week, 350+ just sit.

7893 6th Ct, Waupaca, WI 54981 | realtor.com®

View 1 photos for 7893 6th Ct, Waupaca, WI 54981, a 3 bed, 3 bath, 1,932 Sq. Ft. single family home built in 1997 that was last sold on 08/01/2022.

www.realtor.com

I remember a friend of mine back in 2017-18 put in a lowball offer on a high dollar new construction home, back when expensive homes did not move fast at all. The builder was arrogant (shocker) and IIRC countered at asking price lol.

6 months later the house hadn't moved and the asking price was dropped to within 10k of my friend's offer, and they were eating the monthly interest cost for hundreds of thousands of dollars worth of debt. Morons.

 

[PANDA]

House we threw a (offensively) lowball offer on is still sitting, offered 300. Original owner for 24 years, was never reassessed, zoned ag, and basically doubled in "value" since it was built. We were scared we'd be on the hook for a 2-3x tax bill and possible rezoning. We saw this house pop up after it was up for 15 minutes, were on our way up the next day anyway and included it on our tour. They had our offer in literally less than 24 hours, rejected our offer, and now it continues to sit. Houses over 350 in Wisco sit until they lower it to usually below 325. 250-300 sell within a day or two. 300-350 usually about a week, 350+ just sit.

7893 6th Ct, Waupaca, WI 54981 | realtor.com®

View 1 photos for 7893 6th Ct, Waupaca, WI 54981, a 3 bed, 3 bath, 1,932 Sq. Ft. single family home built in 1997 that was last sold on 08/01/2022.

www.realtor.com

$350K+ are sitting in Wisconsin?

Maybe in the area, you are looking at...

 

[Chester Copperpot]

$350K+ are sitting in Wisconsin?

Maybe in the area, you are looking at...

350+ is sitting everywhere unless it's 350+ in the middle of town, which isn't where I want to be.

 

[Caleb515]

Officially closed on our place this morning!

Our attorney was badass and handled everything well and made the process super smooth. We plan to knock out a few small projects before moving in, some painting, update light fixtures, ect but it really doesn't need much before moving in.

(fiancé’s photo btw)

 

[FirstWorldProblems]

Second offer is apparently waiting for an updated preapproval letter from the bank because interest has gone up and she wants to put less down. Not a great sign, surely not something I'm going to bank on. 3rd pending offer backed out.

Prob a 90% chance we accept the first offer tonight. Will try to stretch it to a mid-July closing if possible, if not, whatevs. After 18 months of nonstop stories about "I had 40 showings and 15 offers, ended up getting 10-30k over asking" etcetc this is definitely a change. That being said I'm still getting stupid money for this house (375k vs 220k purchase price 9.5 years ago) and I had a full price offer within 4 days of listing, absolutely can not complain about that.

I'm still glad I didn't list earlier, being homeless for ~3 months will not be fun lol

 

[Chester Copperpot]

That half percent hike definitely spooked a lot of people. Luckily the day I called my lender and locked in a rate was the day they hiked the rates.

 

[FirstWorldProblems]

That half percent hike definitely spooked a lot of people. Luckily the day I called my lender and locked in a rate was the day they hiked the rates.

Big rate hike, looming recession, crazy inflation. Reasons for holding off on a big dollar home purchase are increasing every week, pushing buyers out of the market. These are crazy times.

I could see it being relatively "normal" for sellers in the very near future (house stays listed for 20+ days, buyers have power to negotiate etc), which compared to the market over the past 18 months is going to seem like the end of the world lol

 

[Chester Copperpot]

All these get rich quick realtors you knew from highschool about to ask for a real job.

 

[Jimy Bilmo]

All these get rich quick realtors you knew from highschool about to ask for a real job.

Can we bring back #learntocode

 

[radioguy6]

All these get rich quick realtors you knew from highschool about to ask for a real job.

they'll be back spamming FB/insta with a totally brand new and definitely not a MLM pyramid scheme selling crafty hand lotions and soap