Monday morning, now with snow

[RobBase]

Shockingly not. Put asking. And it sounds like they may have accepted it. Seller was looking to move quick because the previous buyer backed out a few days before closing. We still overpayed if it goes thru tho.

Did they back out voluntarily? Maybe the loan died and they simply didn’t qualify for the home.

 

[White Knight]

You have very little credibility so why would I trust you?

Why not?

 

[White Knight]

Did something happen with Chris Rock and Will Smith?

Chris Rock is selling out all venues on his tour while Will Smith is a punchline for comedians.

 

[dbldwn711]

Did they back out voluntarily? Maybe the loan died and they simply didn’t qualify for the home.

or the house didn’t comp out

 

[RobBase]

or the house didn’t comp out

Is it a unique and/or very rural property?

@Peter Gozintite you run into a lot of homes where you have trouble finding comps? In my experience this happens with very expensive and or unique properties located near homes unlike them, things like log cabins, etc..

 

[gobigred]

"Reply ALL" co-worker back at it! No one but your supervisor needs to know your computer is down

I hate reply all people

 

[gobigred]

I think you're living two months in the past.

Sounds like a Gigi thread

 

[Peter Gozintite]

Is it a unique and/or very rural property?

@Peter Gozintite you run into a lot of homes where you have trouble finding comps? In my experience this happens with very expensive and or unique properties located near homes unlike them, things like log cabins, etc..

So many things can happen. Didn't appraise, inspection contingencies, buyer does something stupid like buys a new car or furniture before closing, losing a job.

I don't do appraisals but a few that do. If a property is unique, to a neighborhood, or area, they still need to try and find something comparable. That can mean a home with 1/2 a acre lot, in a Neighborhood with really tiny yards, should be comped against other homes with 1/2 acres lots, even in not right in the area. I know a 1/2 acre isn't a premium in many places, but here it's a premium.

Now if you have a Mansion, in a normal neighborhood area, it's going to be hard to find comps, and the house may never be worth what it costs to build, but usually there is something relatable.

 

[RobBase]

So many things can happen. Didn't appraise, inspection contingencies, buyer does something stupid like buys a new car or furniture before closing, losing a job.

I don't do appraisals but a few that do. If a property is unique, to a neighborhood, or area, they still need to try and find something comparable. That can mean a home with 1/2 a acre lot, in a Neighborhood with really tiny yards, should be comped against other homes with 1/2 acres lots, even in not right in the area. I know a 1/2 acre isn't a premium in many places, but here it's a premium.

Now if you have a Mansion, in a normal neighborhood area, it's going to be hard to find comps, and the house may never be worth what it costs to build, but usually there is something relatable.

I have a neighbor at the front of our culdesac who custom built this gigantic house shoe-horned into a corner lot. Then he built a 200k pool house. It’s obviously beautiful, but I don’t know why he chose this sub to build it in. It’s exactly the kind of property you’re talking about.

 

[dbldwn711]

Is it a unique and/or very rural property?

@Peter Gozintite you run into a lot of homes where you have trouble finding comps? In my experience this happens with very expensive and or unique properties located near homes unlike them, things like log cabins, etc..

Out here it’s easy to get comps. A builder will generally buy a huge plot of land and stick a community with a few different floor plans in that community. For comps you really just stick to that community.

 

[Peter Gozintite]

Out here it’s easy to get comps. A builder will generally buy a huge plot of land and stick a community with a few different floor plans in that community. For comps you really just stick to that community.

There are weird little pockets of properties all over the place. Gated, beautiful homes, on acre lots, but you don't want your kids going to school there. I'm sure it's still easier here than other places, but I could send you a couple areas that don't make sense for where they are, and are hurt by not really like comps, that they basically have to use. There is always going to over built houses in areas too, And I see that shit all the time. You never want the nicest house in your area. You never get your money back. Comps crush that.

 

[Peter Gozintite]

I have a neighbor at the front of our culdesac who custom built this gigantic house shoe-horned into a corner lot. Then he built a 200k pool house. It’s obviously beautiful, but I don’t know why he chose this sub to build it in. It’s exactly the kind of property you’re talking about.

I see that all the time. Yeah, they have a really nice house, that has probably 25 to 30 percent more in cost to build, and upgrades, and worth 5 percent more.

 

[NU_WTF?]

buyers remorse already settling in. Don’t worry. It happens to everyone.

Everyone hmm? I feel blessed that I got everything I wanted, and did so before things got too retarded (locked in at 2.25%).


I really feel like everything happened for a reason in the best way possible. I'm glad we didn't get out first must have house or even second choice, in hindsight waiting and getting what I got maximized every aspect I could have wanted. I had anxiety like a mofo waiting to close, even moved up the closing date nearly a full month.

 

[RobBase]

(locked in at 2.25%).

Nice work. Hard to believe rates are almost double that now, to go along with monster values.