emmad8244, Home Buyer in Durham, NC

I see that this home is a short sale. Is it priced low to get multiple offers? Or is it priced accordingly?

Asked by emmad8244, Durham, NC Mon Mar 4, 2013

This question was asked from http://www.trulia.com/property/1050481552-5-Drakesway-Ct-Dur…

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It appears the price has been approved by the lender. In my opinion, the home is definately worth seeing at this price. The pictures look great, but the MLS information mentions the home needs repair, especially on the outside. From the pictures, it doesn't look to be in poor condition.

It takes a while to get a short sale closed, however, the process on this particular property has already been started. Depending on your immediate needs would determine wheather or not you should pursue shortsales.

This home has been on the market for 25 days and it is still active and doesn't mention any offers. There must be more damage to the property than what we can see in the pictures. The tax value was what Durham County appraised the property at as of 1/1/2008.

If you have any other questions let me know.


Candy Mclain


0 votes Thank Flag Link Mon Mar 4, 2013
As with all short sales, because the seller will do no repairs it is priced to sell. I have been in this house and it has a lot of great features. In addition, although most short sales are exercises in futility, this one has already been approved by the lender, so has a much greater chance of closing.

Regarding the tax value, yours is a common question; however, tax value and market value have very little to do with one another. As Realtors, we rarely, if ever, look to the tax value to determine a list or offering price.

Feel free to contact me if you are interested in more information.

Anne Aylin
0 votes Thank Flag Link Mon Mar 4, 2013
also, it seems like the tax value is pretty high compared to what this and surrounding homes sell for. Is this correct?
0 votes Thank Flag Link Mon Mar 4, 2013
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