^^^Everyone does not win with this. It doesn't really help current homeowners who are underwater/want to trade up/need to relocate/etc. All this does is give first time buyers (who are probably only buying low end houses) a small incentive. It won't encourage home building either.

Not to mention everyone else is paying for those first time buyers.

[Edited on February 12, 2009 at 2:48 PM. Reason : ]

2/12/2009 2:47:39 PM

Quote :

"costs the nation more money"

Ha. If we're concerned about that...

But there are people out there who bought houses banking on the $15000 credit that aren't going to get it. There are people who bought houses 1/1 on that were using the $7500 loan. This doesn't change anything about whether or not someone decides to pull the trigger on a house today.

2/12/2009 2:51:22 PM

^it does help as you said in the lower-mid housing market for the people that want to relocate/sell their house and upgrade because there will be more buyers of their house because of the incentive. when people are the ones that are directly affected by the tax credits they think differently, what happened to the redistribution of wealth

2/12/2009 2:52:59 PM

^^if someone bought banking on the 15g they were an idiot. just saying it is what it is. there has to be some cut off date. why not give tax breaks to the people that bought in 06-07 during the bubble?

2/12/2009 2:53:56 PM

why not? hell, we're giving money away as it is! but seriously, i bought my house last year without knowing of the 7500 no-interest loan, so you could call me bias, whatever. My issue with the retroactive part is that you're rewarding those that didn't do anything different than the ones that bought July 08 onward. I have no problem with those buying from the passage of the bill onwards getting a free ride.

2/12/2009 2:58:06 PM

^^Yes, this does possibly make it easier to sell, but what does giving incentive to people who bought before now do? The whole retroactive thing is stupid. January's buyers are not going to help June's buyers.

2/12/2009 3:07:25 PM

^Gets it.

\/ not looking for the handout. It'd be nice, but I'm not in a situation where I need it. Hence why I was able to buy a house.

[Edited on February 12, 2009 at 3:15 PM. Reason : ]

2/12/2009 3:10:14 PM

^^you bought the house without knowing about the credit and you were happy then, so you should be happy now. i know everyone is looking for a bailout here, but i'm sorry, everyone is not going to get it. the bill is focused on what will help going forward, there is no point in spending money to help homeowners who bought in 08 just for the sake of giving them money.

2/12/2009 3:11:17 PM

^then what is the point for doing it for January buyers? how are they different than 08 buyers? (I am neither)

And I am not looking for a bailout. I just don't think this will fix anything.

[Edited on February 12, 2009 at 3:18 PM. Reason : ]

2/12/2009 3:15:38 PM

I dont believe in doing it for January buyers, but the reason being imo is that the pending bill will not halt home sales, thats just my opinion, plus it costs less money .

[Edited on February 12, 2009 at 3:17 PM. Reason : .]

2/12/2009 3:17:07 PM

look, i admit my ignorance in regards to this whole thing...i've also yet to do my taxes because one of my employers needs to mail out a second W-2

okay, so say i bought a house for $150k last may...what sort of credit do i get and, assuming the government already owes me money back for taxes paid in 2008, how will it affect me? am i looking at a refund of $5k in addition to whatever refund i was going to get in the first place?

2/13/2009 3:14:22 PM

no credit for houses bought before july, i believe

2/13/2009 4:18:42 PM

none at all? i was under the impression (again, i haven't done my taxes yet, or researched this...i admit my ignorance) that there's always been a credit for house purchases...it's just higher now, yes?

2/13/2009 5:37:47 PM

^^^ looks like may of 08 is good

http://ezinearticles.com/?$7,500-Credit-For-First-Time-Home-Buyers-Due-to-Housing-Recovery-Act-of-2008&id=1518584

2/13/2009 8:49:02 PM

That's right...sorry about that. I for some reason thought June/July was the beginning and not the end.

2/13/2009 11:43:59 PM

I think i know the answer to my question, but I just wanted to hear some opinions about my tax situation.


In December 08, i purchased a house for $91,000
At that time, the appraisal my bank required valued it at $100,000.

Fast forward to monday, i received a notice of tax value as a result of house purchase. The value was put at 147k. There were boxes you could check if you felt this was too high to file an informal appeal. I was able to provide documentation for two of the options( only required 1) and sent it in. One was my closing statement showing what i paid, and other was appraisal. Today i receive another letter that due to some stuff in the appraisal they actually BUMPED UP my value to 157k, and when i go to the county GIS site, it lists it even higher at 162k.

now the reason i am wary of filing a formal appeal is i know they are trying to play hardball and get every penny they can. there may or may not be other things which could add to the value of the house and that is the last thing i want to happen.

The reason they claimed they were able to totally disregard the documentation i provided was because it was a foreclosure sale. ok I understand i probably got it a little cheaper, but they have it valued 78% higher than purchase price, which is flat fucking wrong.

would y'all pursue this and take the chance of it going up even more? it is clear these people are not being very realistic about the value in the first place.

2/27/2009 12:54:34 PM

If you did a CMA, and the other properties are in line with the tax value, you're probably screwed.

If they're in the range of what you paid, you might have a case.

2/27/2009 12:56:27 PM

cma?


if that means comparable sales, they had 3 in the appraisal. one was 86k, one was 156k, and one was 97.5k

I woudl be willing to bet they would get hung up on that 156k and forget about the two that pretty well support my case.

2/27/2009 1:00:46 PM

CMA means comparitive market analysis. Usually it involves comparables and making adjustments on the differences between your property and those you are comparing it to.

If it appraised for 100K two months ago, then it is highly unlikely it is worth 150K now. You might talk to the appraiser that did it for you and see what they say, but I would probably file a formal appeal. Apparently that is getting pretty common these days as local budgets are stretched thin and home values are going down in most areas--though not so much around Raleigh.

2/27/2009 1:35:46 PM

It's annoying to appeal but well worth it. My first one got denied but I was successful in my second one. I know someone else who appealed and their value went up. It's the risk you have to take.

[Edited on February 27, 2009 at 2:34 PM. Reason : ]

2/27/2009 2:30:12 PM

where can I find info on builder reputations and ratings?

3/11/2009 6:13:26 PM

^ my pm box

3/11/2009 9:54:14 PM

Anyone seeing their property value go up recently? Mine shot back up about 8% within the last week.

3/12/2009 9:43:27 AM

^ where are you watching these weekly fluctuations?

3/12/2009 9:54:06 AM

lol at property value goes up 8% in a week in this economy.

3/12/2009 9:55:16 AM

well, i don't mean within a week's time...i mean i found that information within the past week. slight phrasing issue.

i also find it hard to believe my property value way out in the middle of nowhere fluctuates all that much (either way) anyway

3/12/2009 10:11:55 AM

Quote :

"^ where are you watching these weekly fluctuations?"

3/12/2009 11:04:08 AM

Quote :

"Anyone seeing their property value go up recently? Mine shot back up about 8% within the last week."

You still haven't answered the question about what you're using as a source for the property value increase.

3/12/2009 4:52:50 PM

prolly zillow.com or something

3/12/2009 4:55:45 PM

It was the appraiser that appraised my house back in july of 08.

I wouldn't even know where to begin to get info from zillow on a house that isn't listed. I think he was mistaken on that value, though.

3/12/2009 9:35:40 PM

so where can i find that 4.5 fixed goodness?

3/19/2009 9:56:54 PM

way back in this thread someone posted the zip codes in raleigh to avoid (bad resell). anyone remember that? i don't have time to go through all the pages right now and was just wondering.

3/22/2009 10:29:34 PM

In the market for a townhome in the Raleigh, Cary, Morrisville area. Any properties yall suggest checking out? Looking for something priced under $170 with low HOA's

5/26/2009 3:13:11 PM

Quote :

"so where can i find that 4.5 fixed goodness?"

Refinanced with Coastal Federal Credit Union for 4.5 several weeks ago.

5/26/2009 3:27:45 PM

This is probably a dumb question but Im looking to purchase a new home in the next month. Is there a way to find the tax value of houses and/or find closing prices of comparable homes in the area (up to date)?

5/27/2009 7:43:39 PM

http://services.wakegov.com/realestate/

You will have to do you homework but the basic tool is there - this what your Realtor should be do though. They have a few more resources that the website above cant provide.

5/27/2009 8:09:15 PM

^^ Realtor.com has the ability to search the "value" of comparables.

Tax value is just a number that you pay taxes on...it does not REALLY reflect what a home is worth, but it is close. +/- 10%?

5/27/2009 8:41:38 PM

http://www.zillow.com

5/27/2009 9:33:57 PM

Quote :

"Is there a way to find the tax value of houses and/or find closing prices of comparable homes in the area (up to date)?"

Realtor?

5/27/2009 10:33:50 PM

thanks for the links.

Im planning to buy new construction from the builder so I dont need a realtor (do I?). I just wanted to see how much recent buyers paid the builder in the areas that I am looking.

5/27/2009 11:02:49 PM

click on the "Sales" link for a particular property on the wakegov site for prices of neighboring houses sold

5/27/2009 11:08:41 PM

my neighbor has listed her townhome for cheap $136,900 (especially for a first-time buyer who can get the $8000 tax rebate). just one girl that lived there, and barely did for a couple years (she just moved in w/ her fiance so that's why she's selling) so it should be in really good shape. i've lived here for about 3 years and love it.

http://www.realtor.com/realestateandhomes-detail/2131-Piney-Brook-Road-Unit-108_Raleigh_NC_27614_1109466726

5/28/2009 4:48:26 PM

Anyone use any good free software or spreadsheet templates for real estate investment evaluations?(rental properties)

8/24/2009 3:11:25 PM

IBT TOO OLD TO BTT

7/10/2010 2:04:11 AM

what's the general consensus on your first offering price for houses that have been on the market for a decent amount of time (~3 months), and have already been reduced? the market im looking in has a large volume of people selling and just not many buyers. so... it's a good spot for me now doing a professional relocation.

when i bought my first place i didnt negotiate much, and feel as if i kinda screwed myself. (immediate acceptance of first offer of like, 97% list).

i wont need any closing assistance or anything like that, just has a few things i'd like to have fixed prior though (like, a broken window).

85% seems like it might piss the person off, 90% seems right.

thoughts?

[Edited on September 9, 2010 at 12:13 PM. Reason : was reduced ~9% 3 weeks ago]

9/9/2010 12:12:17 PM

I offered 80 percent on a condo...they're "considering it"

9/9/2010 1:29:41 PM

when i bought my house it was on the market for 15% more than it was worth.... our offer was just at about what the house was worth but it was 85% of asking price. the offer was accepted.... makes me wish i offered lower.

in this market don't be afraid to low-ball, i would say 10% lower than the value (not asking price) of the house is acceptable place to start. worse case scenario you raise your offer. best case, you get a great deal.

[Edited on September 9, 2010 at 1:43 PM. Reason : .]

9/9/2010 1:42:40 PM

how are you determining value.

zillow is kinda bananas

9/9/2010 1:56:42 PM

Yeah, zillow blows. I'd probably check the tax records of recently sold houses and get a comparative market analysis from a realtor.

9/9/2010 3:14:54 PM

BUMP

2/23/2011 4:20:18 PM