Need help buying or selling a home? Contact Us: bit.ly/LivinginRaleighTVQuestionnaire 📱Text or Call: 919-964-0474 📨Email: Hello@MortonBradbury.com 🏠 Search Raleigh Homes: MortonBradbury.com
Honestly, when I was looking for a home....I looked online every day two and three times a day. Different websites. The house I purchased went live on a Sunday.
I been under contract since August 2021 and is expected to close in September. My contract price increased while under contract. Do you think it's a good idea to ask the builder to renegotiate the contract by decreasing the price since the market is adjusting some?
I personally would be extremely surprised if builder agreed to that. Builders are certainly happy to increase the price (and they can come with so many reasons for doing that), but not going the other way. I wonder how much money people loose if they just leave the contract in such situations.
@@borisgetman9222 I agree. And the thing is if they're doing price drops it will be on the newly released homes, not on the homes that been under contract a year plus. Smh
@@LivinginRaleighTV I want to tell you who the builder is but this might bite me back. It's a very well known builder that made the list in your best builder video 😫. Do you think it's a good idea to request incentives if they start back offering them?
I'm originally from Northern Virginia and moved to NC in September 2020. I had put my 825 sq.ft. 1 bdrm/1 bath condo on the market for 184,900.00 priced to sell, then the Covid 19 disaster hit. I had so many lowballers. I was lucky to get a contract offer from one approved buyer. I worked with her 4 times renegotiating my contract with her. She had to much debt to ratio on her credit score. She managed to bring it up to 700 fico score, but the deal fell thru, Ugh! At least patience finally paid off a week later after the condo went back on the market. I got a full price offer and I helped him with closing costs. He was a very young military 🪖 guy and he had a VA. Loan. Gotta love them Vets.
It's so hard for families. Just normal people, not investors or millionaires. My husband and I are expecting a baby in a few months and are trying to find a home to buy. Literal double wide trailers are going for 300k in Apex, no upgrades since the 70s. It's so stressful with how competitive things are.
Yes it’s so frustrating hearing stories like this. The market has softened a bit so we hope you are able to find something soon that will work for your family. Best of luck
that's going to be a 15% down by the end of the year, not just a 3%-5%. Guaranteed. But still a good deal for a seller who bought their home a few years ago. Flippers like offerpad/opendoor who got it a few months ago and are now on the market hoping for a quick buck are in for an unpleasant surprise though.
@@LivinginRaleighTV It will all depend on economy. If people end up with no jobs and no money to buy food and basic things than house prices will plummet. I personally know some cities in the world (not in the US) where people will literally pay you to take their house. It happens in poverty stricken areas that people leave but still have to pay property taxes and utility bills for houses they no longer live in. The US economy is stronger than many other countries’ but it not immune against anything.
@@borisgetman9222 I would disagree with the Raleigh area being heavily impacted. Yes, many areas are effected by macroeconomic pressures, however Raleigh is one of the hottest cities in the US right now as far as continued growth and corporate satellite office investments locations. Its still an attractive alternative to many on the eastern seaboard. So even if the economy hits the dumps, you'll just see even more people from the northeast (similar to the mass COVID migration) who might need to sell their homes for $500K up there, and buying a rough equivalent down here for $350K. Raleigh real estate won't be immune to higher mortgage rates and recessionary job losses, but it should be heavily insulated comparatively thanks to the lower CoL on the east coast combined with the MUCH cheaper property taxes.
When I was buying last year I could tell when a house was going to go for way over based on how well it looked and if they put in money to make it look nice. The house I bought did not go over because they did not spend much to fix it up to sell and thankfully for me there was not a bidding war. Had they put in 10-15k on upgrades they would have sold for a lot more (turns out they were splitting up and just wanted to move on). But yeah, buyers go insane when they see a pretty girl, I mean house.
This was good info but bit long. Remember spending thousands getting house ready few years ago and still had to take a low ball cause it wasnt selling . This is minimum you must do . Luckily we bought new home pre-pandemic. Thanks Chris.
I was looking at the price trend... If you didn't sell by October.... You missed out... Everyone's talking about a housing bubble.... It's already started in other states....
I feel like this will be a very temporary slow down...when Apple and Meta start really ramping up hiring and other tech companies follow - its going to be red hot again...This time more of a regional trend vs a national trend caused by covid flight.... I hope ppl are taking advantage of the slow down.
Need help buying or selling a home?
Contact Us: bit.ly/LivinginRaleighTVQuestionnaire
📱Text or Call: 919-964-0474
📨Email: Hello@MortonBradbury.com
🏠 Search Raleigh Homes: MortonBradbury.com
Awesome video with all the tips needed for a quick and profitable sale.
Thank you!
Honestly, when I was looking for a home....I looked online every day two and three times a day. Different websites. The house I purchased went live on a Sunday.
Yep! Fortunately it’s calmed down a lot since making this video
I been under contract since August 2021 and is expected to close in September. My contract price increased while under contract. Do you think it's a good idea to ask the builder to renegotiate the contract by decreasing the price since the market is adjusting some?
Who is your builder? You can try, but depending on the builder, they may be unlikely to do anything.
I personally would be extremely surprised if builder agreed to that. Builders are certainly happy to increase the price (and they can come with so many reasons for doing that), but not going the other way. I wonder how much money people loose if they just leave the contract in such situations.
@@borisgetman9222 I agree. And the thing is if they're doing price drops it will be on the newly released homes, not on the homes that been under contract a year plus. Smh
@@LivinginRaleighTV I want to tell you who the builder is but this might bite me back. It's a very well known builder that made the list in your best builder video 😫. Do you think it's a good idea to request incentives if they start back offering them?
@@AqSloan Feel free to email us privately: hello@mortonbradbury.com. There have been a couple builders on that list we have had to take off the list.
I'm originally from Northern Virginia and moved to NC in September 2020. I had put my 825 sq.ft. 1 bdrm/1 bath condo on the market for 184,900.00 priced to sell, then the Covid 19 disaster hit. I had so many lowballers. I was lucky to get a contract offer from one approved buyer. I worked with her 4 times renegotiating my contract with her. She had to much debt to ratio on her credit score. She managed to bring it up to 700 fico score, but the deal fell thru, Ugh! At least patience finally paid off a week later after the condo went back on the market. I got a full price offer and I helped him with closing costs. He was a very young military 🪖 guy and he had a VA. Loan. Gotta love them Vets.
That’s great. Thanks for sharing!
It's so hard for families. Just normal people, not investors or millionaires. My husband and I are expecting a baby in a few months and are trying to find a home to buy. Literal double wide trailers are going for 300k in Apex, no upgrades since the 70s. It's so stressful with how competitive things are.
Yes it’s so frustrating hearing stories like this. The market has softened a bit so we hope you are able to find something soon that will work for your family. Best of luck
How about the climate
3 houses in my neighborhood just sold in less than a day. The rush is still on in my neighborhood at least.
Which area are you located in? Thanks for sharing
People buying right now are not getting a good deal
that's going to be a 15% down by the end of the year, not just a 3%-5%. Guaranteed. But still a good deal for a seller who bought their home a few years ago. Flippers like offerpad/opendoor who got it a few months ago and are now on the market hoping for a quick buck are in for an unpleasant surprise though.
We doubt it will go that low, but time will tell. Either way, that's still a lot of equity for a house purchased 2+ years ago.
@@LivinginRaleighTV It will all depend on economy. If people end up with no jobs and no money to buy food and basic things than house prices will plummet. I personally know some cities in the world (not in the US) where people will literally pay you to take their house. It happens in poverty stricken areas that people leave but still have to pay property taxes and utility bills for houses they no longer live in. The US economy is stronger than many other countries’ but it not immune against anything.
@@borisgetman9222 I would disagree with the Raleigh area being heavily impacted. Yes, many areas are effected by macroeconomic pressures, however Raleigh is one of the hottest cities in the US right now as far as continued growth and corporate satellite office investments locations. Its still an attractive alternative to many on the eastern seaboard. So even if the economy hits the dumps, you'll just see even more people from the northeast (similar to the mass COVID migration) who might need to sell their homes for $500K up there, and buying a rough equivalent down here for $350K.
Raleigh real estate won't be immune to higher mortgage rates and recessionary job losses, but it should be heavily insulated comparatively thanks to the lower CoL on the east coast combined with the MUCH cheaper property taxes.
Anything with a roof and a doorknob 😂
Almost same as dating anything with a heartbeat
Yep!
When I was buying last year I could tell when a house was going to go for way over based on how well it looked and if they put in money to make it look nice. The house I bought did not go over because they did not spend much to fix it up to sell and thankfully for me there was not a bidding war. Had they put in 10-15k on upgrades they would have sold for a lot more (turns out they were splitting up and just wanted to move on). But yeah, buyers go insane when they see a pretty girl, I mean house.
Agree 100%. Putting money into making the house turn-key is well worth it.
Yep, people go insane for a pretty girl. Than they split and sell their house.
This was good info but bit long. Remember spending thousands getting house ready few years ago and still had to take a low ball cause it wasnt selling . This is minimum you must do . Luckily we bought new home pre-pandemic. Thanks Chris.
We don't know how this one ended up being 23 minutes, but thanks for sitting through it!
People buying right now are not getting a good deal.
Somebody go inside and place something in the cabinet to smell bad you wakeup
you make me wait 3 days on offer I'm walking away
What do you mean?
its still a sellers market but that is changin.
You can have a house in the car
I was looking at the price trend... If you didn't sell by October.... You missed out... Everyone's talking about a housing bubble.... It's already started in other states....
House about the climate
I feel like this will be a very temporary slow down...when Apple and Meta start really ramping up hiring and other tech companies follow - its going to be red hot again...This time more of a regional trend vs a national trend caused by covid flight.... I hope ppl are taking advantage of the slow down.
I think you may be right!