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63034 : Real Estate Advice

  • All7
  • Local Info0
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 6
Thu Jul 14, 2016
Scott Godzyk answered:
It depends, we really need more info to give an answer. If you are a buyer, do you have a buyer agent? Is there a listing Agent? If not you may need to check with a lawyer, if so get them to do their job ... more
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Wed Nov 12, 2014
Albastl asked:
Of course the builder says it will. How can we be sure? There don't appear to be any recent comps.
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Wed May 8, 2013
Patsy Androlewicz answered:
Hi, Alfreda:

Your agent should be able to get any information that you may want or need. Have you asked him/her for the information?

Best regards,

Patsy Androlewicz
cell: 314-369-6622 ... more
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Thu Apr 14, 2011
Dale Weir answered:
You should keep in mind that there are 4 answers to every contract offer that is submitted when you are dealing with "real sellers" not a bank foreclosure or a short sale:
Yes, the seller accepts the offer
No, they do not accept the offer
The seller isinterested in keeping the dialogue open and getting to a successful closing so they counter the offer
The seller dislikes or is insulted enough by the offer enough that they don't bother to respond - that is the same as a NO.

Contracts in the St Louis metro area have a response deadline on them, if you are past it, you do not have an active contract offer on the table. You need to check your contract and see what the response time was. If you are past it, then you should talk to your Realtor. Your Realtor should then contact the sellers agent and find out what is going on.

Sometimes the reason is due to something happening with the seller, sometimes it's administrative, sometimes it's the buyer's agent, but you need to talk to your realtor to find out. Over the years, I have seen agents who submitted a contract WITHOUT giving the sellers agents a courtesy call. The contract didn't come over the fax or the email correctly and the sellers agent never knew it was there to go look for it. I've seen times when the sellers agent was out of town or ill and a buyer's agent would send a contract directly to them, rather than to the person who was handling their business for them while they were out. I've seen contracts get delayed because of a seller dying and no one was sure who could legally respond. With an estate, sometimes there are multiple sellers who have to be contacted. A good agent checks with the seller's agent before they submit the contract and asks what kind of a response time they need so they can write the contract to account for the needed time. Sometimes there are multiple offers and they decide to negotiate on the best one first, but not respond to a second one, since if the first one falls apart, they want the ability to come back to the second one.

If you are submitting on a foreclosure or a short sale, you might get an answer the same day or you might wait 6 months for an answer, since the banks don't have to respond by the timelines put into the contract.
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Thu Sep 10, 2009
CCC answered:
Thu Jan 8, 2009
Dale Weir answered:
There's 4 homes on the market right now, ranging in price from $161-205,000. 3 pending ranging from $91 -205,000. There have been 10 sold in the past year ranging from $91-202,500 with an average price point of $159,730. 22 have expired however. That puts your absorption rate at about 1 a month with a 4 month supply of homes on the market right now, but a bunch primed to come on the market in the spring. I can't tell you what the market will be like in the spring of 2010, what I can tell you for the current market, is that interest rates are down, so if someone has good credit, they can get an excellent loan. If they don't have good credit, it's nearly impossible to get a loan right now. That should help to get the buyers out along with the tax incentives that have been put in place. While we are hoping that the market will rebound by 2010 and prices will go up, I can't promise you that will happen. I can point out to you, that if you sell now, you will sell lower than you probably would have a few years ago when the market was hotter, but I can't promise you that by 2010, you will be selling at a higher rate (or at least enough of a higher rate) to make a difference in the additional year that you will have paid taxes, insurance, mortgage, etc on the home.

If you put it on the market now, I would highly recommend that you tour your competition first with your Realtor and then make sure that you can "beat" your competition - other wise you will just send the buyers to them. Ie - your home needs to be in better shape, it needs to have better amenities, be better priced and show better than the competition does if you want to win the beauty contest and take home the buyer. You can't go into it saying "I need to get X amount for my home" or I don't have to fix this up, the buyer will want to fix that up for their own tastes - doesn't work like that anymore - buyers are typically both working and don't have time to take off work to deal with contractors or to do the work themselves. They demand move in ready homes.

One thing to keep in mind - in a year, is your newly renovated kitchen and baths going to be newly renovated and still in great shape?

Hope that helps. If you have any further questions, feel free to call me or email again.
... more
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