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jbrick83
All American
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I agree. I'm definitely anti-condo/apartment.

Just a shitty market right now if you can't plop down a ton of cash without any conditions.

3/29/2017 10:04:25 AM

Jeepin4x4
Cam Time Steamroller
34920 Posts
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Charlotte is nuts too. As much as i'd like to buy the market right now has me priced out of the areas i'd like to be in. And i'm just not going to get into a bidding war.

also, that house that ncsuallday linked on the last page would be a steal here at $315k. Houses that size are going for +$350. That one is a little small for me, but if i were in raleigh it'd be a great location.

3/29/2017 10:45:14 AM

ncsuallday
Sink the Flagship
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To be fair, I think that house might end up going for around $350k. It was super undervalued, probably with the intention of causing a bidding war. It's not uncommon for people to go over appraisal value and pay the difference in cash since they can't get it lent. Craziness.

Meanwhile you can get a historic in downtown Wilmington for a steal. Really like that market right now.

This is walking distance to all the bars and fun stuff downtown.

https://www.zillow.com/homes/for_sale/Wilmington-NC/house_type/54300413_zpid/21320_rid/200000-400000_price/758-1516_mp/globalrelevanceex_sort/34.242663,-77.93094,34.227584,-77.954007_rect/15_zm/

I also think downtown Smithfield/Clayton will go way up once the 540 loop is complete.

look at this beauty. been on there a month - could probably get it for a lot lower. Walking distance to their downtown.

https://www.zillow.com/homes/for_sale/Smithfield-NC/house_type/69131619_zpid/27127_rid/200000-400000_price/758-1516_mp/globalrelevanceex_sort/35.512788,-78.324881,35.48309,-78.371015_rect/14_zm/

3/29/2017 11:10:41 AM

jbrick83
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I thought Wilmington was blowing up as well? I'm a little confused as to why there are still good deals there. I'd jump on stuff there if I were you.

Just looked at the Wilmington house you posted...that's nuts. I almost spent that much just adding on to my house recently (700+ sq ft).

[Edited on March 29, 2017 at 11:20 AM. Reason : .]

3/29/2017 11:16:51 AM

wahoowa
All American
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Might be underwater (literally) in 20-30 years.

3/29/2017 2:29:05 PM

Doss2k
All American
18319 Posts
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Hoping the 540 loop will bump my property value up in Wendell as well once its complete. I live 2 exits further down 264 so will make getting down that way a bit faster. Unless its a toll road again then I will never use it haha.

3/29/2017 2:46:52 PM

jbrick83
All American
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^^ That's not stopping Charleston prices from skyrocketing.

3/29/2017 2:53:46 PM

ncsuallday
Sink the Flagship
9133 Posts
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we'll just build dikes like the Netherlands

3/29/2017 3:48:08 PM

skaterjaws
All American
1491 Posts
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So when exactly and where exactly will 540 loop near Clayton?

3/31/2017 12:34:20 AM

ncsuallday
Sink the Flagship
9133 Posts
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the contract won't be awarded until 2020.

so 2025? plenty of time to buy up all dat prop

3/31/2017 3:20:02 PM

Str8BacardiL
************
41204 Posts
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Quote :
"I thought Wilmington was blowing up as well? I'm a little confused as to why there are still good deals there."


You should have seen what kind of deals there were a few years ago! Things are up, just not like they are in Raleigh. The economy is much stronger in Raleigh and has been for as long as most of us have been around so it makes sense Raleigh would bounce back faster and stronger. We got out of the recession YEARS before most places.

3/31/2017 5:22:19 PM

ncsufanalum
All American
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If you folks believe Charleston or Wilmington will be underwater in the 20-25 years you need a reality check.

3/31/2017 10:14:17 PM

sag1804
All American
888 Posts
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I want to hear more about 540 bc I'm in the dark how much faster can it really help

4/3/2017 1:42:06 AM

dtownral
All American
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they picked the orange to green route:
https://www.google.com/maps/d/viewer?mid=1Ia88rEcKd0H20b0GKjBY9Mloxrk&hl=en_US&ll=35.68294988955005%2C-78.66828499999997&z=12

4/3/2017 9:27:40 AM

sag1804
All American
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I live within 5 miles of that clayton portion. I figure this would help my RTP time immensely?!

4/5/2017 2:07:50 AM

Str8BacardiL
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41204 Posts
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http://www.starnewsonline.com/news/20170313/wilmington-area-home-sales-jump-up-again

Wilmington area "2006 levels"

4/5/2017 8:48:53 PM

Douche Bag
Fcuk you
4680 Posts
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Find out tomorrow if I win another foreclosure. Will close Friday if I'm the high bidder.

Wish me luck.

4/5/2017 9:46:56 PM

KeB
All American
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^Good Luck. My wife and I are actually in a multiple-offer situation for a personal home and we are going to find out tomorrow as well. Selling agent says my offer is solid but the seller is dragging their feet. Originally said response on Monday then said seller says things are moving too fast so they want to make a decision Friday. I know exactly what's going to happen he's going to Waffle again and try to make it last through the weekend

4/6/2017 10:45:04 AM

Str8BacardiL
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^ Hopefully that works out but if they are dragging their feet they might be waiting on some checks or initials on a change. Really the only recourse is to threaten to pull the offer which does not help if you want to stay in the running for the house.

A lot of novice list agents have not figured out that if you list the house either late Thursday or early Friday you will get your multiple offers all weekend and not have to keep everyone waiting.

The last house I listed got 11 offers in the first two days. I got my sellers to leave town for the weekend so I could have a contract for them when they returned. It was a lot easier on them than trying to stay home and accommodate over 20 showing appointments and two open houses in two days. At the second open house there was an offer being written at the kitchen table trying to get it in before the deadline!

Anyone thinking about selling do not go to the discount listing service or a new agent because they do not know how to maximize this market!!! I know how to leverage it for the best terms. It is not just the price either. The close date, non-refundable due diligence fee, repairs, financing, pretty much every pain point a seller has I can get a buyer to work around right now. .

4/6/2017 11:17:20 AM

KeB
All American
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Quote :
"A lot of novice list agents have not figured out that if you list the house either late Thursday or early Friday you will get your multiple offers all weekend and not have to keep everyone waiting."


That's just the thing. It was on the market Thursday with no showings til Saturday. Was told multiple offers were coming in, decision will be made by Noon on Monday. So we went in over asking and was aggressive with all of the other terms. Then was told at 3pm on Monday that the seller is "old school" and feels everything was moving to fast and didn't want to make a decision until this Friday. The agent told us our offer was perfect but that she just couldn't get the seller to commit.

Quote :
"Really the only recourse is to threaten to pull the offer which does not help if you want to stay in the running for the house. "


I tried this verbally, but as you said, we didn't want to just hand it over to someone else esp since the agent basically conveyed to me that our offer was the best one at this point.

4/6/2017 1:54:29 PM

Douche Bag
Fcuk you
4680 Posts
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Nobody upset my bid, but they declared bankruptcy yesterday, which voids my sale. Bastards.

4/6/2017 7:10:17 PM

KeB
All American
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^Sorry to hear that. What happens to the house in a situation like this if the sale is voided?

4/6/2017 10:25:43 PM

Douche Bag
Fcuk you
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They work through bankruptcy and either work something out or this will go back to auction in 3-8 months. Sucks because I was high bidder and today was the last upset day. I get 1 out of 20 for this reason. Either a donkey comes in and bids too close to retail or the owners declare bankruptcy to buy time.

4/6/2017 11:22:48 PM

slckwill577
All American
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Does anyone know whats going to happen with the land formerly known as Crooked Creek Golf Club? Does anyone live out there?

4/10/2017 2:06:09 PM

Douche Bag
Fcuk you
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It is going to be developed into a neighborhood. I'm friends with the owner of the land.

4/10/2017 2:14:49 PM

slckwill577
All American
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Theres a house for sale down there that I'm interested in but I'm not sure whats going to happen to the land behind it. It appears to be a fairway and the house overlooks the pond.

4/10/2017 5:39:19 PM

KeB
All American
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Driving range is going to be an elementary school

4/10/2017 5:47:07 PM

skaterjaws
All American
1491 Posts
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I never got to play the course. Was it any good?

4/10/2017 11:51:10 PM

Str8BacardiL
************
41204 Posts
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Quote :
"It was on the market Thursday with no showings til Saturday. Was told multiple offers were coming in, decision will be made by Noon on Monday. So we went in over asking and was aggressive with all of the other terms. Then was told at 3pm on Monday that the seller is "old school" and feels everything was moving to fast and didn't want to make a decision until this Friday. The agent told us our offer was perfect but that she just couldn't get the seller to commit. "


See I think even that is a flawed strategy. (on them, not you)
#1) Not everyone is around on the weekends, at least start showings on Friday at lunch so people who have other things to do than just look at houses can pop by with their agent and see the house.
#2) Unless the seller is for sure willing to wait until Monday you can't very well promise to a buyer that they will wait until then to accept something. A prime case was a house I sold off Duraleigh Rd last year. I told everyone the sellers were out of town (they were) and that they would review offers on Sunday evening. Smart buyer agent sends me a clean offer $10.000 over list price. At that point we were way above what the house would reasonably appraise for. I received multiple other offers and called around and warned everyone first.....but guess which offer was signed by Saturday afternoon.

It has heated up to the point now people are making promises to pay over appraisal and/or paying cash (with a high offer) and not even doing an appraisal. I think by the end of spring appraisals will catch up to where we are now, no telling if prices will continue to push higher.

4/11/2017 9:36:52 PM

Str8BacardiL
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https://www.zillow.com/homedetails/211-Ashe-Ave-APT-100-Raleigh-NC-27605/6476979_zpid/?fullpage=true

These used to be like 25k to BUY. Now renting for ~$800 a month.

9/22/2017 9:30:06 AM

JP
All American
16464 Posts
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lol damn....things have sure changed a lot on Ashe Ave in 10 years

there were some sketch ass people outside at all times of the day/night at these apts

9/22/2017 9:36:50 AM

Money_Jones
All American
10786 Posts
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Yeah, I delivered pizza for gumbys many many years ago, that place was sketch as fuck whenever I had to go

9/22/2017 10:21:46 AM

Str8BacardiL
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To think a 20% down payment of $6000 could be getting you over $600/mo in cash flow now. CRAZY!

I tried to see recent sales and dont really see any, I bet everyone who has one is just throwing some IKEA cabinets in there in between tenants then sitting back counting their money.

9/22/2017 11:07:22 AM

ncsuallday
Sink the Flagship
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I had to walk from a contract a couple of months ago because the inspection revealed so many issues. I went well over to win the bidding war but they asked me to raise my already generous DD to go under contract. I did because the house was gorgeous and seemed extremely well maintained (as much as I could tell from seeing it with many other couples present at the same time - it was on market like 8 hours). Everything underneath the house was basically fucked so I lost my DD but will likely save tens of thousands in the long run.

This market is insane. You could get a nice, renovated house ITB for like $340-$380k not even a year ago. Now those same kinds of places are more like $450-475k

Anyone care to speculate if and when the market will come back down?

9/26/2017 2:24:48 PM

Douche Bag
Fcuk you
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The market will come down when demand is not there. Right now, home builders can't build enough houses fast enough, so it will be hot for another 2-4 years. The slow down right now is the municipalities taking too long to review plans, permits and rezoning efforts.

A year ago, Fuquay would take 3 weeks to review plans and make comments - now it is 8 weeks. It will take 16 months to get a subdivision approved when it was already zoned properly due to the town's slow moving politics.

9/27/2017 9:16:02 AM

Doss2k
All American
18319 Posts
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You guys can always come all the way out to Wendell with me plenty of houses going up in Wendell Falls area at a fast pace. Eventually the commercial development will start and prices will begin to rise.

9/27/2017 9:30:51 AM

smoothcrim
Universal Magnetic!
18136 Posts
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anyone know a way to secure commercial lending on residential properties? I much prefer the commercial vehicle, but I'm not sure how to use it for less than 5 units.

10/1/2017 8:21:47 PM

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