Open Houses Galore Near Douglasville

Open Houses Galore Near Douglasville

There are 6 comments on the Patch.com story from Oct 6, 2011, titled Open Houses Galore Near Douglasville. In it, Patch.com reports that:

This week House Hunt features Open Houses ranging in price from a four-bedroom home in Douglasville for $224,499 to a three-bedroom home on Mill Water Crossing in Powder Springs for $89,900. Preview each home by clicking on a photograph in the photo gallery.

Join the discussion below, or Read more at Patch.com.

Since: Jun 07

D'ville, GA

#1 Oct 7, 2011
Having just sold a house in Douglas County, let me tell you how to move a property. You'll stress over the listing price, you'll stress when nobody makes an offer and you have to lower your price, you'll stress when someone actually makes an offer and then stress over the negotiations and additional repairs required. None of that makes any difference. To get your price, or at least a better price, find out when the banks appraisal will occur and give the guy at least a thousand dollars to be fair with the appraisal (he's only making around $700 on the deal to begin with). Mine came in 7 grand below the agreed sale price which after additional negotiations cost me 4 grand out of pocket to sell the property. A thousand would have been money well spent.

Unethical? Probably but home apprasiers have already proven to be in an unethical business by over inflating the values of our homes for over 10 years to benefit the banks.
disappointed in you

Mansfield, GA

#2 Oct 7, 2011
spitfire2 wrote:
Having just sold a house in Douglas County, let me tell you how to move a property. You'll stress over the listing price, you'll stress when nobody makes an offer and you have to lower your price, you'll stress when someone actually makes an offer and then stress over the negotiations and additional repairs required. None of that makes any difference. To get your price, or at least a better price, find out when the banks appraisal will occur and give the guy at least a thousand dollars to be fair with the appraisal (he's only making around $700 on the deal to begin with). Mine came in 7 grand below the agreed sale price which after additional negotiations cost me 4 grand out of pocket to sell the property. A thousand would have been money well spent.
Unethical? Probably but home apprasiers have already proven to be in an unethical business by over inflating the values of our homes for over 10 years to benefit the banks.
So the end justifies the means as long as u get what u want?

Since: Jun 07

D'ville, GA

#3 Oct 7, 2011
disappointed in you wrote:
<quoted text>
So the end justifies the means as long as u get what u want?
I'm saying play the game they're playing. You get broke if you play Old Maid while they're playing poker.
biker

Loganville, GA

#4 Oct 7, 2011
Wow....7 grand under the agreed to price. Just curious - did you have any idea that it would come in that low? Or did the buyer just have a bad Realtor? It seems like the buyer (or buyer's Realtor) should have had some idea that the price they helped their client agree to was way off..in your apparent fvaor. Was the banks appraisal anywhere near neighborhood comps?

Not a pro - just someone with a hobby of watching home sales and country real estate prices.

Also, curious if you stayed in the county and how you did?

We sold last year for $20,000 less than we bought in 2005 (sub $200k house). However, with lower rates, I was able to buy a brand new home from a bank for the mid 300's. My payment went up $300/month and I got about a 25% discount on the new house. I loved my old house but I couldn't take being screwed over any longer. No one would refi the old house so my only real out, illegitimately, was to do this.

Since: Mar 11

Location hidden

#5 Oct 7, 2011
biker wrote:
Wow....7 grand under the agreed to price. Just curious - did you have any idea that it would come in that low? Or did the buyer just have a bad Realtor? It seems like the buyer (or buyer's Realtor) should have had some idea that the price they helped their client agree to was way off..in your apparent fvaor. Was the banks appraisal anywhere near neighborhood comps?
Not a pro - just someone with a hobby of watching home sales and country real estate prices.
Also, curious if you stayed in the county and how you did?
We sold last year for $20,000 less than we bought in 2005 (sub $200k house). However, with lower rates, I was able to buy a brand new home from a bank for the mid 300's. My payment went up $300/month and I got about a 25% discount on the new house. I loved my old house but I couldn't take being screwed over any longer. No one would refi the old house so my only real out, illegitimately, was to do this.
I wonder the same thing. The exact same thing happen to me. The only difference was I was the buyer so it worked out in my favor. Should either the seller or buyer Realtor have a better idea of what the house is going to appraise for. I don't with this market anything is possible.

Since: Jun 07

D'ville, GA

#6 Oct 7, 2011
biker wrote:
Wow....7 grand under the agreed to price. Just curious - did you have any idea that it would come in that low? Or did the buyer just have a bad Realtor? It seems like the buyer (or buyer's Realtor) should have had some idea that the price they helped their client agree to was way off..in your apparent fvaor. Was the banks appraisal anywhere near neighborhood comps?
Not a pro - just someone with a hobby of watching home sales and country real estate prices.
Also, curious if you stayed in the county and how you did?
We sold last year for $20,000 less than we bought in 2005 (sub $200k house). However, with lower rates, I was able to buy a brand new home from a bank for the mid 300's. My payment went up $300/month and I got about a 25% discount on the new house. I loved my old house but I couldn't take being screwed over any longer. No one would refi the old house so my only real out, illegitimately, was to do this.
It surprised my agent and the buyers agent that it came in so low in fact my agent thought I'd get 11 K more than the apprasial. I looked at the compared sales and while they were not foreclosures, foreclosures in the area had to have hurt as there were a bunch.

All I did was get married and have been sitting on the property waiting for the market to turn around, which it hasn't done and it's expected to get worse. I just couldn't wait any longer, two mortagages will kill you. She already had a house so I'm now out of Douglas County, YEAH! I know others that got married and simply let one of their houses go back, its the only solution that they could work.

What I don't understand is, if the banks will only lend based on comparing to previous sale prices and the home is in a starter neighborhood where buyers don't have a lot of resources, how will prices ever recover if they won't lend even when someone has been preapproved and is willing to pay the higher price?

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