Anonymous
08/26/2019 08:06
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Who in God's green Earth is spending Forty Thousand dollars on 1 day of site prep, 3 days of framing, a half day of electrical, no days on plumbing and maybe $3000 tops for material?!
If you're telling me I can move back to the DC area and make $30,000 every six days just by building porches, count me in.
Yeah man! Do it! You’d be a fool not to!
If you can, do it. Yes, people are stupid here.
Anonymous
08/26/2019 07:43
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Who in God's green Earth is spending Forty Thousand dollars on 1 day of site prep, 3 days of framing, a half day of electrical, no days on plumbing and maybe $3000 tops for material?!
If you're telling me I can move back to the DC area and make $30,000 every six days just by building porches, count me in.
Yeah man! Do it! You’d be a fool not to!
Anonymous
08/26/2019 07:35
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:So, you have just one offer at, say, 700k, but you think you would have been better listing at 800k?
Yeah I’m confused. If you only have 1 offer at the low price it stands to reason you would have 0 offers at the high price.
Welcome to the world of DCUM where the rules of economics do not apply.
Where the industry standard for home improvements is X amount but DCUM will gladly pay 4 times that amount and insist that is what it has to be or you are a fool.
Where you can put your house on the market and expect 50K to 100K over asking even if only one person looked at it. Where you can reject and offer and 90 days accept an offer 100K over asking (what kind of idiot buyer is that???)
Where you can buy a home, do ZERO improvements, and put it on the market 18 months later at 200k higher than what you bought it.
A world where buyers will buy an expertly staged piece of crap home with no usable kitchen, with no kitchen cabinets, and a claw foot tub with no shower - because it looks good.
A world where every buyer bought there house for a steal when the market was low and/or had amazing negotiating tactics (there is a dichotomy here that does not fit, but who cares)
Also, everyone on DCUM is infinitely wealthy with 2 million dollar homes, believes that there are no starter homes, you must drive luxury cars and those that don't are riff raff, etc.
I read these threads and am shocked by the lack of common sense and wonder are these people that run our government and legislate? Because it very much sounds like are government's budget. But these people can continue on their merry way while the rest of us, build retirements, pay off all our debt and retire young-ish because we were not so foolish about money.
Anonymous
08/26/2019 06:03
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:So, you have just one offer at, say, 700k, but you think you would have been better listing at 800k?
Yeah I’m confused. If you only have 1 offer at the low price it stands to reason you would have 0 offers at the high price.
Anonymous
08/25/2019 22:05
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...
I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.
We waited another 60 days at got 106k over our first offer. Suck it.
We believe you!!!
Who is “we”?
Everyone on this board.
Sure but no one comes along later and offers more than the list price. At best you get a list price offer with an escalation clause, which requires another offer to go up.
reggie14
08/25/2019 20:32
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Don't accept the offer. Don't raise the price. Neither are options, firstly because you state you need 50G more and secondly because you have done nothing to improve the home 50G, so this is not a good marketing plan and will turn off any pool of buyers. Stick to the price for a month and if no competition/better offers, take it off the market and lose out on the other home.
This only seems like reasonable advice because there's really no alternative for now. The OP is only a week into the listing, so I suppose there's still a small chance of a bidding war erupting. But if there aren't competing offers after a second week and (presumably) open house, I highly doubt a bidding war would erupt.
I don't see this turning out well for the OP, though. At best, maybe they'll be able to get $50k more in the Spring. But they're going to find themselves up against much stiffer competition from other buyers, particularly when you factor in the fact that they'll apparently need a home sale contingency.
Anonymous
08/25/2019 20:28
Subject: Re:Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:I will add that I acted as the construction manager for addition. Quote was going to be $175k if I wanted that too.
I also forgot to add I did the plumbing and electrical plus the framing
Yeah a DIY job for $125k is totally expected. That is not surprising. And not worth it for most people, their time is more valuable than to spend on a trade.
This is the original PP. someone was being funny adding that I did plumbing, electrical, and framing. That is not true. I simply made sure all the subs showed up each day which was easy for me since I work from home. Never spent more than 15 mins a day doing day to day. I did pick my finishes but would do that no matter what. I’ll stop posting but the whole point I (and others) was trying to say is that a lot of dupes are innocent DC metro area. People will spend a lot of money when they don’t have to because they’re too lazy to get multiple quotes. One doesn’t not need to spend $40k for a porch when it can be done for $25k.
Anonymous
08/25/2019 20:19
Subject: Agent urged us to underprice our house now we regret it
Sounds like the realtor priced it just right if you have one lonely offer. It’s not the realtor’s fault you decided to buy and sell at this time of year. He/she is just doing their job.
Anonymous
08/25/2019 20:15
Subject: Agent urged us to underprice our house now we regret it
Who in God's green Earth is spending Forty Thousand dollars on 1 day of site prep, 3 days of framing, a half day of electrical, no days on plumbing and maybe $3000 tops for material?!
If you're telling me I can move back to the DC area and make $30,000 every six days just by building porches, count me in.
If you're telling me I can move back to the DC area and make $30,000 every six days just by building porches, count me in.
Anonymous
08/25/2019 19:26
Subject: Agent urged us to underprice our house now we regret it
What does your realtor say op?
Anonymous
08/25/2019 18:19
Subject: Agent urged us to underprice our house now we regret it
Don't accept the offer. Don't raise the price. Neither are options, firstly because you state you need 50G more and secondly because you have done nothing to improve the home 50G, so this is not a good marketing plan and will turn off any pool of buyers. Stick to the price for a month and if no competition/better offers, take it off the market and lose out on the other home.
And finally, recognize that your home may not be worth that minimum you need to sell, so selling at this time may not be in the cards for you. So try to reconcile that or rectify whatever you are trying to fix about your living situation.
And finally, recognize that your home may not be worth that minimum you need to sell, so selling at this time may not be in the cards for you. So try to reconcile that or rectify whatever you are trying to fix about your living situation.
Anonymous
08/25/2019 18:16
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...
I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.
We waited another 60 days at got 106k over our first offer. Suck it.
We believe you!!!
Who is “we”?
Everyone on this board.
Well “everyone” I’ll do you one better.
My house was posted here and torn apart for being 200k- 250k overpriced.
We believe you!!!
PSA- DCUM can’t price homes.
Anonymous
08/25/2019 17:26
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...
I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.
We waited another 60 days at got 106k over our first offer. Suck it.
We believe you!!!
Who is “we”?
Everyone on this board.
Well “everyone” I’ll do you one better.
My house was posted here and torn apart for being 200k- 250k overpriced.
PSA- DCUM can’t price homes.
Anonymous
08/25/2019 16:28
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...
I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.
We waited another 60 days at got 106k over our first offer. Suck it.
But was your first offer list price? It would be very surprising if someone comes along at a later date and decides to just make an offer 50k over list knowing the house has been sitting. At most in that scenario I can imagine asking price + escalation clause, but without competing offers, it’s not going to escalate over list price.
My only point is that 2 weeks isn’t nearly enough time, AND they listed at one of the worst times of year. Our first offer was 100k under list, because it was a terrible time of year. We pulled the listing and came back on market 2 moths later.
Op, is in a terrible predicament by the realtor’s design. That doesn’t mean the house isn’t worth the price the seller had in mind. Op is in a real pickle, especially if their contingent offer has language directing them to move forward. My advice is to put the screws to the realtor, and go from there.
Maybe she will get a higher price at a later date, but she’ll likely also be paying more for a house. So that needs to be factored in too. I doubt her house is underpriced, but the one she’s buying is priced just right.
Houses are selling for less in August as both a seller and buyer.
Anonymous
08/25/2019 16:17
Subject: Agent urged us to underprice our house now we regret it
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...
I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.
We waited another 60 days at got 106k over our first offer. Suck it.
We believe you!!!
Who is “we”?
Everyone on this board.