In theory, if you built on a lot across from a lake (or away from primo neighborhood… then you had less initial investment in the house. And smaller mortgage payments. So let the other houses fetch more - you’ve been saving money every month.
@colorado_mom oh yes. Our house did cost substantially less to begin with. But it’s funny that houses less than 1/4 mile,away from ours fetch a MUCH higher price because they are waterfront. Like I said…our neighborhood owns. Very nice private beach,on the same lake. Only 14 families…and ita plenty big enough.
Houses on our street do sell quickly because we are a cul de sac…not a through road…and families really like that. We are also only 5 minutes from the HS…which is very handy!
Anyway,can’t sell anyway…our cats are still alive!
thumper, what part of the country are you in?
CT
I went into escrow today and signed a bunch of documents. Then I went over the ‘Estimate’ Sheet in great detail. There are always always always errors, and they are never in my favor!! I don’t know why I have to calculate everything and point out all the errors to the escrow officer. The main error, to the tune of $600, is what the title insurance company posted as their title insurance cost. Gee… I called them on it and they have fixed it already
I really hope that you all review every detail in your closings.
The living/dining/deck furniture staging company showed up on time today (probably in the middle of the rain we had about 10:30am) and everything is removed from the house. The other stager showed up and took 2 bedspreads and one lamp and left the rest of the stuff. I had to get my agent to call her this afternoon and give her a deadline.
Also in a little tizzy fit with the buyer’s agent about ‘padding’ their Home Inspection Warranty. I look at every detail. In our contract I agreed to pay for a Home Warranty ‘UP TO’ $500. Somehow they pushed through a Home Warranty with extra riders for Air Conditioning and Washer/Dryer. There is no air conditioning in this house, and I am not contractually liable for warranty on a washer and dryer. She is demanding that we pay the $500 warranty because we agreed to it. No… we agreed to warranty with one rider for Refrigerator. How can I ethically pay for warranty on AC and washer/dryer when they are not even in the home??
I loaded some pictures of the empty house.
CB…I m checking for clarity! They want YOU to provide a home warranty for,things you have NOT included in the home? Um…no.
THE contract states Seller will pay for Home Warranty with XYZ company with Refrigerator rider Not To Exceed $500. Normally I would not agree to paying for a Home Warranty since everything in the house is new and covered by Manufacturer warranty but I didn’t fight it this time.
The warranty with refrigerator is about $400 so buyer’s agent probably added AC and washer/dryer to bump cost up to $500. I think buyer is obviously putting in a washer and dryer and probably AC eventually. So she’s trying to add those items to the warranty. I caught the detail while sitting in the escrow office and I asked to see invoice (which i have a right to do because I am paying for it) The buyer agent just simply submitted straight into escrow and didn’t send to my agent. The escrow officer didn’t know any different.
I called my agent immediately. She officially asked for a copy from buyer agent and returned email stating that AC and washer/dryer have to be removed because they are not in the transaction.
Buyer agent replied in a tiff that her client is entitled to $500 and they may choose a different increased coverage. They already have the premium policy from the company so I don’t know how she is going to “pad” the policy. We will see what happens
I’m glad you have sharp eyes and aren’t letting this buyer’s agent bulldoze you. She sounds like a sly one and I’d be irked with her. Your agent should be looking things over with your interests in mind as well.
Obviously the difference between your paying $400 or your paying $500 is insignificant, but I think your attention to this sort of detail informs the buyer’s agent that you’re not a pushover. It will help your reputation in the community as someone who is serious, detailed, and diligent.
Believe me… every $100 counts. The buyer’s agent’s attitude is “It’s a $1.8 million purchase, why are you arguing over $100”? It’s the principle of the matter and I watch every penny
If the buyer’s agent doesn’t think it’s a big deal than she should cough up the $100 out of her commision!
Regarding local agents and keeping my reputation. My agent and I find it interesting that only 2 local agents even brought buyers through for showings. Of the 40+ local agents that came through the Broker’s Open House, they all gushed over the property and many said “I have buyers for this”. Only 2 ever showed up with clients…
Every time I am working on a project I get calls from local agents who ask about the project and claim they have a bunch of pent up buyers asking for large family homes. They want to meet with me to discuss listing the house. Some even stop by and tell me all about how they just got an email from an out of state buyer interested in Pt Loma view homes. Those same agents never even show up for the Broker’s Caravan.
I find it interesting that, in 4 homes sold in this neighborhood, not one buyer came with a local agent. They were all brought in by an Out of Area agent from Chula Vista (family friend of buyer), walk in without agent, newbie agent from New York out of Mission Valley and an agent from La Jolla
But, it is good that they all saw the project and they have started putting two and two together… “Oh, you did that flip on Guizot”, “Lovely work, it’s obvious that you pay attention to the details”. So, hopefully I might get a lead on a new project from the agents.
It’s curious that the local agents haven’t brought anyone through. Any idea why? Are local people just not looking for “your” kind of house?
I just cannot figure out why we don’t get buyers through local agents. You would think someone who wants a view home in Pt Loma would be using a local agent to help them find one.
Of the two buyers who did come through with local agents, they didn’t " get it". They wanted contemporary with huge master suites and closets. They either need one of those McMansions newer builds at high $$$ or a tract home inland somewhere. They aren’t going to find that in a 1937 restored view home in the older neighborhoods. I always want to work with a buyer who “gets it” about the charm and quirks of a restored home.
The buyers seem to be looking in the pricier La Jolla and Del Mar regions and their agent will suggest just trying to look at a couple in Pt Loma. And they realize they can get better views and more home for less money
I was talking to a realtor friend a month or so ago. She says that real estate has changed for instance she brought a buyer to another realtor’s listing and the other realtor stalled and avoided getting back to her because she had given the seller such a low commission rate she was hoping to bring the buyer as well.
Maybe the agents don’t “get it.”
Yes, when I was discussing local agents with my agent I thought maybe they weren’t bringing buyers through because they were miffed that I wasn’t using a local agent (one of the gang) or that they didn’t get the listing and was using an out of area agent.
She said “No way, noone is going to pass up a chance at this much commission” 
Regarding an agent wanting to represent the buyer also…this has become standard slightly unethical practice for agents listing very distressed houses. All of the buyers will be investors who are either agents themselves or coming straight to selling agent or use an agent that kicks back all or a portion of commission to the buyer.
In the last case I am at a disadvantage because that buyer can offer higher because they are getting a refund. I try to educate “my agent” (the selling agent) about this in case they want to volunteer reducing their commission or refund in escrow in order to get the deal.
They will ALWAYS favor the offer that comes through them. There is a lot of extra money for them. I play the game to try and win the deal.
I think the issue is that there just aren’t going to be that many local buyers moving up to bigger, more expensive houses in the same relative area. Especially at CA prices.
Plus, a lot of agents really aren’t very good at their jobs. They certainly aren’t organized enough to form a cabal and try to punish you in some manner. And they most likely aren’t advertising on places like Zillow, which is where out-of-town buyers are going to connect with agents, because it is fairly expensive. DW probably spends $1000+/month advertising on zillow and other sites. Many agents won’t make the investment.