Selling Our House For 3x What We Paid (2 Viewers)

[CraigT78]

So my listing finally went live via Houzeo this past Saturday (probably the worst day of the week for a listing to go live as people are already going to see other listings, but whatever)

Then the other day I notice that Zillow, Trulia and Estately no longer show my listing anymore and display me as Off Market.

Of course no support on Sundays so this morning I reach out to online chat support and they tell me I need to contact the support teams on those websites to correct the issue.

#1 - what the fuck am I paying YOU for?

#2 - It'll look pretty fucking suspicious if the homeowner is reaching out to these sites to correct an MLS listing when ONLY my "realtor" that Houzeo assigned can list to the MLS...........

So the chat support person said she'd reach out to my "team" to get it corrected. Meanwhile my house is no longer listed on the two top fucking sites for real estate traffic, ARRRGGHHH!

This is why it's worth paying a realtor. You get what you pay for.

 

[Darson]

This is why it's worth paying a realtor. You get what you pay for.

While I do agree with this, the system is seriously rigged in favour of the realtor. And I would not have a problem with this if not for the fact that in Texas there is essentially a mandatory 3% to the buyers realtor and 3% to the sellers.

6% realtor fees is a bit excessive, especially when you're above 500k for a standard home that is selling within 24hrs of listing at $50k over the asking price.

 

[Anthony Martino]

While I do agree with this, the system is seriously rigged in favour of the realtor. And I would not have a problem with this if not for the fact that in Texas there is essentially a mandatory 3% to the buyers realtor and 3% to the sellers.

6% realtor fees is a bit excessive, especially when you're above 500k for a standard home that is selling within 24hrs of listing at $50k over the asking price.

I had realtors here in FL offering to do 3% all-in, including both agents cuts. Didn't know TX required the 6%

 

[Darson]

I had realtors here in FL offering to do 3% all-in, including both agents cuts. Didn't know TX required the 6%

As the realtor fees are paid by the seller, as a seller you can negotiate with your realtor but you can't do anything with the buyer's realtor - they get their 3% regardless. When we sold our previous house our realtor gave us a discount on her fees to 1.5% but that's primarily because she made a ton on the house we currently live in.

I don't know if it has changed now but in the UK, there are only sellers agents. And if you list your property exclusively with one agent you can get their fee down to 1%. If you list with multiple agents then it's usually 2%.

 

[MrCatPants]

As the realtor fees are paid by the seller, as a seller you can negotiate with your realtor but you can't do anything with the buyer's realtor - they get their 3% regardless. When we sold our previous house our realtor gave us a discount on her fees to 1.5% but that's primarily because she made a ton on the house we currently live in.

I don't know if it has changed now but in the UK, there are only sellers agents. And if you list your property exclusively with one agent you can get their fee down to 1%. If you list with multiple agents then it's usually 2%.

The percentage system in general is really a mess.

1) Is it really triple the work to sell a 750k house than a 250k house? Likely not.
2) They are not incented to get more value for your house, just sell it fast and with little effort as effectively it's an hourly rate game for a busy realtor.

That said, a good realtor can definitely ensure you get great value for the property and gives solid advice on negotiations, especially when dealing with multiple offers and specific terms on those offers.

 

[CraigT78]

While I do agree with this, the system is seriously rigged in favour of the realtor. And I would not have a problem with this if not for the fact that in Texas there is essentially a mandatory 3% to the buyers realtor and 3% to the sellers.

6% realtor fees is a bit excessive, especially when you're above 500k for a standard home that is selling within 24hrs of listing at $50k over the asking price.

I do not disagree with this. But if trying to save 2%-4% in fees costs you $70k on the sales price of your home, I'd argue it wasn't worth it.

 

[Anthony Martino]

Listing is back live on Zillow, etc. Phew!

 

[Anthony Martino]

When we first bought it vs now

 

[SixSpeedFury]

Our real estate agent has let us know that the APR had gone down to 4.1%. Might be the perfect time to jump back into the market.

 

[raynmanas]

Our real estate agent has let us know that the APR had gone down to 4.1%. Might be the perfect time to jump back into the market.

is that an adjustable rate? a 30-year fixed here is still 5.79% from my go-to bank. even a 10-year is 4.85%.

 

[SixSpeedFury]

is that an adjustable rate? a 30-year fixed here is still 5.79% from my go-to bank. even a 10-year is 4.85%.

30-year fixed

 

[raynmanas]

30-year fixed

what bank? sorry to doubt, but that doesn't sound even remotely possible, unless something has changed drastically in the last couple hours.

 

[SixSpeedFury]

what bank? sorry to doubt, but that doesn't sound even remotely possible, unless something has changed drastically in the last couple hours.

Not sure honestly, just going by what our agent said.

 

[HaRDHouSeiNC]

When we first bought it vs now

View attachment 931351View attachment 931352

That should get tons more interest
All the little changes and fixes make it look so much better to maybe even get a bit more offers

GL with sale
I think the %% fees are BS too
They should bill by the hour like an attorney and then maybe get a bonus if you agree depending sale

 

[WedgeRock]

This thread is a month old and we still haven't sold for three times what we paid for the house, correct?

 

[Hot Nuts]

So glad I refinanced at 2.875% in 2020. I definitely can't afford to move anywhere for now with triplets in college. Google, Apple, Microsoft, Meta all opening offices in Research Triangle Park (RTP). Sit and wait for retirement I guess. I don't want Silicon Valley here in RTP.

There are enough Yankees that have been moving here for a long time. CARY stands for Containment Area for Relocated Yankees for a reason. My company, which has been privately held for 45 years is doing an IPO in a little over 2 years. Hope to be able to benefit from it.

https://techxplore.com/news/2022-02-apple-google-microsoft-triangle-presence.html

Meta coming to Durham: Real estate prices could double again in 5-10 years​

DURHAMFACEBOOKJOBSTRIANGLE JOBSMETA

FILE — A sign at headquarters of Meta, the company formerly known as Facebook, in Menlo Park, California. (Jim Wilson/The New York Times)
by Sarah Krueger, WRAL Durham reporter — June 7, 2022 .

DURHAM – The Triangle’s real estate market could get even more expensive after Monday’s announcement that Facebook’s parent company, Meta, is planning to open an office in Durham.

Durham-based REALTOR® Matt Lunceford Blivin of Nest Realty said he expects Meta’s impact on homebuying to be like when Apple and Google announced they were coming to the Triangle in 2021. Blivin mentioned how median sales prices have increased, partially due to the influx of California-based companies in the Triangle.

“I think Durham might look a lot like California prices in the next 10 to 15 years,” Blivin said.

April 2022 statistics provided by the Durham Regional Association of REALTORS® show that the median sales price is $415,000 for properties located in Durham County, Orange County and the Triangle. It’s a 25.8% increase from April 2021.

“Buying a house today when a median house costs around $400,000, I think it’s safe to say that will be worth double in the next five to 10 years,” Blivin said.

https://wraltechwire.com/2022/06/07...tate-prices-could-double-again-in-5-10-years/

 

[Anthony Martino]

This thread is a month old and we still haven't sold for three times what we paid for the house, correct?

We took it off market to do some aesthetic work and only relisted it recently, but now on the MLS across tons of sites instead of just FSBO on a secondary tab on Zillow

First showings will be this Saturday

 

[Meddler2]

Good luck.
Our house is worth 4.5x what we paid and still climbing. We'll have a decision to make when it's at $1M.

 

[WedgeRock]

We took it off market to do some aesthetic work and only relisted it recently, but now on the MLS across tons of sites instead of just FSBO on a secondary tab on Zillow

First showings will be this Saturday

I would've expected the title be changed to reflect that.

GLWS.

 

[TheDuke]

As I've gotten older, I love watching HGTV and reno shows.

Love seeing the before/after pics.

Hope you get more than 3x! Any recent comps in the area sell?

 

[Anthony Martino]

As I've gotten older, I love watching HGTV and reno shows.

Love seeing the before/after pics.

Hope you get more than 3x! Any recent comps in the area sell?

Yes, there are four comps in the area between 225-250K that sold within the past month or two. And one that was fairly close (maybe 100 sq ft more space and listed as 4 beds instead of 2, but also a complete rehab job so all done up nice) that went for 305K that probably helps mine a bit. And one with the exact same specs but lakefront and the home is only 3 years old (ours was built in 2000) and that went for 350K


Plus there's nothing similar in my town now at our pricepoint. Another 3 bed 2 bath that has a few hundred more square feet but isn't anywhere near as in good shape as ours inside or out is listed at 350K (but they do have 0.25 more acres than we do AND have "water access" (from the pics I think they access a canal that they can take into a lake from the looks of it)

There's another 3 bed 2 bath with similar size but they have almost 1.5 acres of land and they're listed at 400K


And anything priced lower than ours doesn't include ownership of the land, you wind up owning the home but paying monthly fees of $500 or more in various communities

 

[Anthony Martino]

Here's a funny one that seems insanely overpriced (even after a $70,000 price drop)

It's 1 bed, 1 bath with 336 sq ft on 0.8 acres with lake access and right now is listed at $300,000 AFTER that huge price drop.

https://www.zillow.com/homedetails/14609-Sassandra-Dr-Odessa-FL-33556/46473323_zpid/

 

[ReallyGoodUsername]

Here's a funny one that seems insanely overpriced (even after a $70,000 price drop)

It's 1 bed, 1 bath with 336 sq ft on 0.8 acres with lake access and right now is listed at $300,000 AFTER that huge price drop.

https://www.zillow.com/homedetails/14609-Sassandra-Dr-Odessa-FL-33556/46473323_zpid/

Come on that tire swings gotta be worth at least $50k!?!?

 

[Kensco]

Come on, that tire swings gotta be worth at least $50k!?!?

 

[raynmanas]

It's 1 bed, 1 bath with 336 sq ft on 0.8 acres with lake access and right now is listed at $300,000 AFTER that huge price drop.

NEW 900 gallon septic system

i assume they are selling it for the land, not the shed that currently resides on it.

 

[Anthony Martino]

Come on that tire swings gotta be worth at least $50k!?!?

i assume they are selling it for the land, not the shed that currently resides on it.

And the lake access

 

[Anthony Martino]

This home just went pending and was listed at 400k


https://www.zillow.com/homedetails/...6171916283388280882ee6f82&utm_content=address

It is almost 1.5 acres and has additional buildings on property, although the interior of the home isn't as nice as ours

But helps with comps when it finalizes (although we will likely have a deal before that happens)

We already have a couple offers and the open house is tomorrow. Crossing fingers for a bidding war

 

[BarrieJ3]

This home just went pending and was listed at 400k


https://www.zillow.com/homedetails/...6171916283388280882ee6f82&utm_content=address

It is almost 1.5 acres and has additional buildings on property, although the interior of the home isn't as nice as ours

But helps with comps when it finalizes (although we will likely have a deal before that happens)

We already have a couple offers and the open house is tomorrow. Crossing fingers for a bidding war

I not a PMer so I'll post here. Best of luck brother, I hope you fall into previously unthought of territory on pricing with a little bidding war action.

FWIW, while I was excommunicado I didn't visit the site much but I did keep up with some of your threads. You're a fantastic content creator and entertaining. Your kindness when we moved into Texas is not forgotten and I hope that you can turn in that Karma for some large stacks of high society selling this joint.

 

[Anthony Martino]

I not a PMer so I'll post here. Best of luck brother, I hope you fall into previously unthought of territory on pricing with a little bidding war action.

FWIW, while I was excommunicado I didn't visit the site much but I did keep up with some of your threads. You're a fantastic content creator and entertaining. Your kindness when we moved into Texas is not forgotten and I hope that you can turn in that Karma for some large stacks of high society selling this joint.

Holy crap it's Barrie J, good to see you buddy!

 

[Lil Tuna]

I not a PMer so I'll post here. Best of luck brother, I hope you fall into previously unthought of territory on pricing with a little bidding war action.

FWIW, while I was excommunicado I didn't visit the site much but I did keep up with some of your threads. You're a fantastic content creator and entertaining. Your kindness when we moved into Texas is not forgotten and I hope that you can turn in that Karma for some large stacks of high society selling this joint.

Knew you’d be back! Welcome home!