My house sold! 5 days on the market, $15k over asking!

[alarmguy]

Really???

All 3 of my daughters owned their own homes, no help from anyone. Yes my oldest is now deceased, but she bought her house at 23, the other two girls were 22, and 24 when they purchased.
They are now 24, 28, and should be 30 this year if still alive.
Work hard, get a good job, don't blow every nickel you make at your jobs between age 15 and say 23, and you can buy a house easily. Then rent out the basement as a mortgage helper, and pay it off. It isn't really tricky or difficult.
Nobody helped me with anything, and I am glad they didn't. It meant that I had to learn how to do it for myself.
My kids knew not to come asking for money for stuff like cellphones, college, cars, etc. Because they were aware that my answer would be get a job...or two or three or four jobs if need be. My youngest is a dental hygienist, she worked and saved money for college. When she had enough saved to go, she went to college and still worked.
In April she bought a house, at age 24. Her renter in the basement pays 58% of her mortgage, and she makes good money as a dental hygienist, plus she is also still a part time pool life guard for the city.
She makes $65/hour as a hygienist, and $38/hour as a life guard.
Stop coddling kids, and tell them to spread their wings and soar instead.
My 28 year old moved back in with me, but to help me, not because she had to, and I'm glad she did.
Her house that she bought at age 22, is now rented, and makes her money every month. But she may choose to leave and go back anytime, and resume the life she had, before flipping her own life upside down to come back here, and help me.
She is the 1 of my 3 girls who was like me, and hated school, and dropped out. She worked hard from age 16 to 19, and then went into business for herself, and is doing really really well.
My middle child is also the smartest of the 3, which most people probably wouldn't expect, considering that she was the high school drop out, and the other 2 went to college.

Well said.
Kids are to coddled. Im proud of my kids, they always had my full support and advice on everything. They always knew they could come to me for anything, except money.
As young adults and teenagers they worked for whatever they wanted to buy. No I wasnt cruel or mean and grew up in a family where holidays and birthdays were a big thing for a special gift within reason. This is the way I too was raised and proud of it.
My parents when I was growing up were pretty wealthy but if I wanted something I had to work for it, they would lend me money, almost any amount but I paid it back like a bank loan with interest that was a little more reasonable than a bank, so it worked for the both of us.

My kids knew if they wanted something to work hard and earn it. They are now off on their own, have their own homes and family.
I know when I am no longer on this earth, no matter what happens in the world or the economy they will survive.
First week or maybe before the first week that my daughter started college in Clemson she already had a part time job to work in her spare time before her first day of school!
We helped out for part of and actually most of her tution costs but she paid for her own entertainment, trips, extras, clothes and took out student loans when the first year she missed the state scholarship by .1 grade point. She had to pay the money she lost.

Once done with college, as incentive I printed out amortization sheets on her college loans and how much she would save if she lived sparely and made extra payments. My wife and I matched an additional 50% of the extra money she was paying to the loan. She knocked it out in less than five years. Drove her crazy that all of a sudden loan forgiveness was around the corner. Thank god it never came to be after she worked so hard, gave up stuff her friends had so she could to pay them down.

All this time she always had second hand phones, drove a Pontiac Grand Am with 200,000 miles on it, she now drives a Ford Fiesta, ironically now, out of college, she is very successful but hates to waste money! *LOL* I want her to get a more substantial car!!
BTW- some of the most wealthy people (by no means the majority) do not feel the need to impress the public with expensive cars, to them, its just an object.
Anyway, pretty much, the same story goes for my son, he wasnt really college material but all along he worked part time jobs, sometimes a full time job and a part time job until he landed a job with BMW... now has a house, wife and two kids, living well.

The most rewarding thing to me as a parent? They actually appreciate the way they were raised. A lot of self esteem in what they have accomplished and they KNOW, they are in control of their destiny and no one else that seems to be lost in the media garbage.

With that said @CanAmAndMore your comments on real estate agents and the industry are so whacked out I wont even bother commenting.

 

[14Accent]

Are you going into business full time, or as a side job?

If everything goes to plan, the majority of my "income" will be coming from working on cars at home. I have a side gig right now that pays $25 an hour cash working for a tree service guy, I'm maintaining his shop and all his equipment. After my house closes and I have a check in my hand, I also plan on getting a part-time gig at an auto parts store locally so I can have some kind of income on paper.

 

[John105]

Too late to edit.

I gave my nephew a $6000 check to help pay for any appliances, minor R&R, paint, furniture, etc…. he will need for his starter home. Folks his age 25-26 really can’t afford to buy a home unless their parents help with purchase.

Really a big thing for you to do that. I’m sure it’s a tremendous assist and appreciated.

 

[John105]

The first house I was looking at (condo) was 47k. A friend gave me a strong hint, it sold for double that new, 15 years prior.

Now I liked a $98k house, a $135k house, and I bought mine for $193k, in 2002.

I actually could afford it and my friend in Stamford layed the smack down on location and price. Kinda saying I can afford more than 98k and should spend more. He spent nearly $500k at that time.

I did a 80/10/10 to avoid PMI. So I only put down 10%. As mentioned it was paid off Sat. Morning. I recall struggling BIG TIME to come up with $29k in closing costs, and I cut every expense possible for 1 year.

It may not be a glamorous story but it’s my story. Realtor says house is $430k now. Nothing too great and I do wish I had a McMansion not a 1952 small house…

 

[ARCOgraphite]

I just love how people bad-mouth other professionals. I'd love to know what they do so everyone could take a turn explaining why they are also grossly overpaid and not worth hiring.

I worked in communication technologies and med-high volume Manufacturing for decades a really tough job physically and mentally - if you ask me Don't forget the advanced studies and degrees required for the job

Maybe I am biased, and it might appear to be all roses and pet Unicorns prancing in a field of daisies for Realtors, but a salesperson prepping and showing a home is not hard work given their compensation**. And, they really only have one MAJOR line: "This house is going to sell fast in this market, you better make an O.P. now or you'll be shut out". That comes a bit after, " It would only need about 10 to redo that kitchen - really not much in the scheme of things if you think about it."

But I am a penny-pinching Scot - Pol mix; stubborn and a tight wad - except when it comes to friends and family.

________________________________

** I understand MLS and the split between seller and purchaser agent and the office cut (e.g.: Century 21, RE/MAX, Keller Williams, etc.

 

[ARCOgraphite]

My cuz sold his house about 6 months ago for $120k over list price. He did well but his agent was way off on the listing price.

Well at least it appears he didnt undersell it in the end

You got to exercise your own due- diligence. Its not hard now ( compared to the 80's and 90's ) with Zillow and Trulia and Realtor showing local comps and pricing estimates with a trend line.

In my area of So. NH there exist pretty much NO properties in the price range I want to sell my house at - which is low 3's.
Just a little un-insulated log cabin on a hill with no garage. But 2BA, 3 BR ~ 2 acres on a hill. Z estimate is in the low 4's but I am not here to squeeze blood out of stone; I would take the first reasonable offer (from a buyer I might like) but not the highest bidder in a nutty bid war.

Call me dumb, but I'll call it fair. - Ken

 

[LDB]

I worked in communication technologies and med-high volume Manufacturing for decades a really tough job physically and mentally - if you ask me Don't forget the advanced studies and degrees required for the job

Maybe I am biased, and it might appear to be all roses and pet Unicorns prancing in a field of daisies for Realtors, but a salesperson prepping and showing a home is not hard work given their compensation**. And, they really only have one MAJOR line: "This house is going to sell fast in this market, you better make an O.P. now or you'll be shut out". That comes a bit after, " It would only need about 10 to redo that kitchen - really not much in the scheme of things if you think about it."

But I am a penny-pinching Scot - Pol mix; stubborn and a tight wad - except when it comes to friends and family.

________________________________

** I understand MLS and the split between seller and purchaser agent and the office cut (e.g.: Century 21, RE/MAX, Keller Williams, etc.

Yeah, cuz licensed and certified realtors just buy a box of Cracker Jack, take their license out of it, and go to work making fortunes. As I said previously, I love how people can so easily diminish the work of others. They can easily see why they are overpaid and don't work for their earnings. And they know they work extra hard and are worth more than they're rewarded.

 

[John105]

Yeah, cuz licensed and certified realtors just buy a box of Cracker Jack, take their license out of it, and go to work making fortunes. As I said previously, I love how people can so easily diminish the work of others. They can easily see why they are overpaid and don't work for their earnings. And they know they work extra hard and are worth more than they're rewarded.

Everyone has their own opinions but for me, if anyone minimalized what I do for a living, it wouldn’t bother me. As a matter of fact 4 years ago my title was made up and sounded entry level to me. They asked me to get new business cards and I thought I’ll oblige but I’m not handing them out.

I know what I do and I’m the guy who’s called when my employer’s in hot water and fines are accumulating and something has hit the fan

My realtor (buyer’s) was a svp at a bank (2002). I asked him why do you want to be a realtor you’re already a SVP? He said he was eating Cracker Jacks and in the box was a license so he thought he’d try a new field!

J/k he said he always wanted to and he feels satisfaction matching people to homes ESPECIALLY if they are first time buyers like I was

 

[LDB]

I understand being called for the challenges. I proofread and copy edit for authors. I'm good at it, the fourth best extant. I'm probably better but I refuse to be recognized higher than fourth as I will not stand around while fools spray champagne everywhere. And having a realtor in the family long ago, and obtaining the license myself, I know it is more involved than many acknowledge and that good ones earn their compensation.

 

[ARCOgraphite]

I understand being called for the challenges. I proofread and copy edit for authors. I'm good at it, the fourth best extant. I'm probably better but I refuse to be recognized higher than fourth as I will not stand around while fools spray champagne everywhere. And having a realtor in the family long ago, and obtaining the license myself, I know it is more involved than many acknowledge and that good ones earn their compensation.

My Father was a realtor as a second job when I was young. It seemed I was always with my parents heading to new properties and looking at new construction with them as a kid. Climbing up those open temporary stairs and across foundation moat planks was very scary and became the stuff of nightmares when I was older. After an forced early retirement due to health issues, my Father soon ran out of retirement funds and had to find work again. He worked hard and got licensed in Lee County Florida in the late 90's. Years later, I read his course material - absolutely not 5th grade level stuff.

What I am stating is homes are not 2x a annual salary or $95/sq ft anymore. And in today's hot markets the biggest deal is 'crowd control' at the first - and typically only - showing. On Trulia I see mentioned Open House on Saturday and Sunday, then all offers due by Monday - under agreement and SOLD ! Boom! done that's a wrap as long as the buyer is qualified.

My house value is MY hard won appreciated asset; you are not peeling off a good percentage of it. A reasonable flat fee per month for non commercial properties seems reasonable to me., but I am sure this will not change as it is not 'customary'. So For Sale By Owner it is for me. - Ken

 

[Bladecutter]

Rant On:

I'm not giving a Realtor $25G (6pts) to sell my house in a week in a hot market. IMO an over-paid "car salesperson" The alternative may be hard work for a couple months.
But it's really not Funny Money and its certainly not chicken feed.

Rant over.

Is your house actually on the market, for sale, right now?

 

[andrew_j]

Really???

All 3 of my daughters owned their own homes, no help from anyone. Yes my oldest is now deceased, but she bought her house at 23, the other two girls were 22, and 24 when they purchased.
They are now 24, 28, and should be 30 this year if still alive.
Work hard, get a good job, don't blow every nickel you make at your jobs between age 15 and say 23, and you can buy a house easily. Then rent out the basement as a mortgage helper, and pay it off. It isn't really tricky or difficult.
Nobody helped me with anything, and I am glad they didn't. It meant that I had to learn how to do it for myself.
My kids knew not to come asking for money for stuff like cellphones, college, cars, etc. Because they were aware that my answer would be get a job...or two or three or four jobs if need be. My youngest is a dental hygienist, she worked and saved money for college. When she had enough saved to go, she went to college and still worked.
In April she bought a house, at age 24. Her renter in the basement pays 58% of her mortgage, and she makes good money as a dental hygienist, plus she is also still a part time pool life guard for the city.
She makes $65/hour as a hygienist, and $38/hour as a life guard.
Stop coddling kids, and tell them to spread their wings and soar instead.
My 28 year old moved back in with me, but to help me, not because she had to, and I'm glad she did.
Her house that she bought at age 22, is now rented, and makes her money every month. But she may choose to leave and go back anytime, and resume the life she had, before flipping her own life upside down to come back here, and help me.
She is the 1 of my 3 girls who was like me, and hated school, and dropped out. She worked hard from age 16 to 19, and then went into business for herself, and is doing really really well.
My middle child is also the smartest of the 3, which most people probably wouldn't expect, considering that she was the high school drop out, and the other 2 went to college.

It really depends on housing market in local area. Starter homes here start in $500k-600k range which means if you put down a 20%(good idea)you need $100k.

 

[alarmguy]

I just love how people bad-mouth other professionals. I'd love to know what they do so everyone could take a turn explaining why they are also grossly overpaid and not worth hiring.

Spot on!
Good god, it amazes me when uninformed people knock other industries but their own.
They are either jealous or make boat loads of money just like real estate agents. If they dont, they would go into the real estate business wouldnt they? Or maybe they would fear that they couldn't cut it. It's this type of person that will knock anyone and anything.
The ignorance of how businesses run and the costs involved are way to involved to educate those people in here.

But you hit the nail on the head, why dont they disclose what they do? Answer is above ^^^