Home Buying in Garner>Question Details

J. Waters, Home Buyer in North Carolina

What is the true market value for the property located at 371 Coal Yard Dr Garner NC, 6 mos from now?

Asked by J. Waters, North Carolina Wed Oct 10, 2007

This property is up for a direct purchase or rent to own. I could use some addition suggestions on how can I play the lagging market to my advantage on this property. The asking price now is $250,000.

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Answers

4
So what did you decide to do?
0 votes Thank Flag Link Mon Feb 8, 2010
Stay away from the thought of a lease option.
This market is soft especially in that price point, my suggestion if you are interested in the home make an offer and negotiate to see where the seller's bottom line is. Its amazing how much more sellers are willing to negotiate now. My general rule is 5-10% under to see where you can meet. In order to find the real price-range I would have to personally view the property and run comps.
0 votes Thank Flag Link Thu Dec 20, 2007
NEVER do a rent to own unless you hire an attorney to tell you what you are in for in the contract. Usually they are overpriced and you could loose your entire investment if you miss a payment or two.

Save, wait, fix any credit problems that you may have. It's always a cycle, and soon enough 5% down will be a reality again and hopefully you may be able to buy your home then.

http://wilmington-northcarolinarealestate.com/
0 votes Thank Flag Link Wed Oct 17, 2007
Nobody can predict what the market will be for a home in 6 months. If they could, we'd all be making a million, buying up all the good deals now. Nobody.... Realtors, investors, or homeowners,could have predicted the downturn in the housing market that has occurred in the last 6 months in the Triangle area.

Are you thinking of buying this home? renting it to buy? Do you have a lender?
Just some things to think about.
Linda Jandura
Web Reference: http://www.lindajandura.com
0 votes Thank Flag Link Wed Oct 10, 2007
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