STORM2K

After just 4 weeks on the market, my house today is under contract for about 93% of my asking price, just a touch below what I really wanted to sell it for (~95%). I'm shocked it happened so quickly. The buyer is already qualified for financing and will be putting over half down, and has put up a very nice earnest money deposit. I think it's going to actually close.

I can breathe a sigh of relief as my wife and I had signed a contingency offer to buy a new home (I have to sell by March 12 or get my deposit back), and I really didn't want to lose the lot and we love the design of the new home and haven't found anything that serves our needs nearly as well.

Congrats!!! This is not something that you hear everyday in the current house market in Florida.

HURAKAN wrote:Congrats!!! This is not something that you hear everyday in the current house market in Florida.

Thanks. My current neighbors won't be too happy with me though, as I was listed for 10% less than the next cheapest home in my neighborhood...

Did you sell the home for less than the appraised value?

Congrats! I'm sure it must be worrysome to have your new home contigent on the sale of your current home.

Are you staying in the same area? I know! It's a huge seaside home with enough room to have all of us over!

Dionne wrote:Did you sell the home for less than the appraised value?

A little. I sold for about ~95% of appraised value. But in this market, and considering our desire to move into a bigger home, we took it. This next home will be our home "forever" barring a catastrophe.

CajunMama wrote:Congrats! I'm sure it must be worrysome to have your new home contigent on the sale of your current home.

It is. I'll be worried until we finally move into the new place, though, as that's just my personality.

Are you staying in the same area? I know! It's a huge seaside home with enough room to have all of us over!

We're staying in the area. it's about a 5 mile move. Alas, we'll be even further from the beach than we are in our current home though! We will have room for guests now.

That is ALMOST unHEARD of!! Congrats!

Our best friends have had their house on the market for OVER 13 months now and not even a BITE...the market is terrible but in Az it downright SUCKS, PERIOD!

Congrats....I know the houses around here are not moving at all.

Lucky you! Houses up here aren't selling worth a darn - and they all have nice property! (at least an acre)

Congrats! I look forward to hearing about your new home.

Move to Lafayette. Real estate is hot and inflated. It seems when the rest of the country is slow we're hopping here and when the rest of the country is hopping we're slow.

We passed the final hurdle today, with a clean termite and wood rot inspection. Finally I think it's really going to happen!

Cool. Full disclosure with inspections is right on target. Congrats.....

Oh....the final hurdle happens 3 seconds after the attorneys secretary hands you the completed paperwork and a check!!

Congrats and enjoy the new Home

So I should book my flight to Sarasota for April? I'm glad you'll have a room for me then. LOL

Congratulations!!!

Pburgh wrote:So I should book my flight to Sarasota for April? I'm glad you'll have a room for me then. LOL

Congratulations!!!

I'll have room, but not until June or later.

We're having a new home built. We're moving into an apartment in the meantime.

gtalum wrote:

Pburgh wrote:So I should book my flight to Sarasota for April? I'm glad you'll have a room for me then. LOL

Congratulations!!!

I'll have room, but not until June or later.

We're having a new home built. We're moving into an apartment in the meantime.

I need high speed access in my room

Today I visited with the site supervisor at our new home, and looked at the slab. It's very exciting.

The developer in the new neighborhood has raised prices twice since we bought, and homes are still selling in the neighborhood.

gtalum wrote:Today I visited with the site supervisor at our new home, and looked at the slab. It's very exciting.

The developer in the new neighborhood has raised prices twice since we bought, and homes are still selling in the neighborhood.

Lumber prices have dropped big time.....you might consider checking your materials costs estimates.

Pre construction contracts that lock in a price can save you money especially in Florida where you have seasonal price swings. I'm sure you will be visiting the construction site regularly to check on progress. From what you have said the contractor has pre sold enough homes so that the risk of a project cancellation is minimal.

When there are 50 homes for sale a house priced 10% below market gets first dibs, good strategy! The important thing is you will be getting the house you want in a weather/insurance safe area. When you don't move often, housing price fluctuations are a mute point.