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Let me be frank...I don't know what planet you're on!
I've been living in Western Union County now for over six months, a job transferee from Ohio and have been excited about buying a home here in the Waxhaw/Weddington Area. After searching countless hours of MLS queries, driving around, and reading numerous housing boards, including this one, I can't, for the life of me figure out what makes you think your home is worth as much as you're asking for it. Recent sales? Truely, is seems like this city is keeping up with the Joneses on a whole new level. And, despite all of the nice, new stuff around here, everyone looks depressed, either that or medicated. Anyone else think so?
What is your asking price based upon? What you paid for it 7 years ago with a return of +20%. Perhaps it's all of the 'one-of-a-kind' custom upgrades (that you and your hundred other neighbors have), or is it based on something that I'm just missing?
Please, sell me your house! I'm a willing, able, and ready buyer. But, don't insult me by listing your home for 50-100K more than it's worth (as established by the market, not Zillow, Trulia, or your pva). Wake up! If your home hasn't sold yet, there's probably a good reason. Most likely, it's way overpriced and I'm not even looking in that range.
Hey, I understand, I took a hit on my house in Ohio when I moved here, but come on people, this city, and more specifically, this area is way overvalued/overpriced for what people are asking.
When we were looking to buy in 07, we found S. Charlotte to be "overpriced". But, people were willing to pay those prices (location, location, location)- so that is what the market was. Now, things have "tanked", but sellers can list their homes for whatever they'd like- doesn't mean it will sell! :-) I also think that S. Charlotte/Weddington is a great area and prices will be more than areas further out because of it's location. And, I find the people here mostly happy/friendly....
I read your post twice, and I still don't understand it. It is a buyer's market. You have the advantage, if you are indeed a "willing, able, and ready buyer." Maybe you have had a few bad experiences? I am baffled. A good realtor might make your search easier. The good ones figure out your needs and save you from wasting a lot of time looking at places that are not right for you or are out of your price range.
You've been here six months and you think you can determine that real estate is outrageously overvalued and expensive? Just because prices are different than what you were used to in Ohio doesn't mean it's expensive here. In fact it is very reasonable to own a house in Charlotte. If you think it's so depressing, you're free to leave.
eta: just read you relocated from Cincinasty. No wonder you think homes are expensive here.
Location: The place where the road & the sky collide
23,814 posts, read 34,670,113 times
Reputation: 10256
Quote:
Originally Posted by movingtocharlotte2010
Dear Prospective Home Sellers,
Let me be frank...I don't know what planet you're on!
I've been living in Western Union County now for over six months, a job transferee from Ohio and have been excited about buying a home here in the Waxhaw/Weddington Area. After searching countless hours of MLS queries, driving around, and reading numerous housing boards, including this one, I can't, for the life of me figure out what makes you think your home is worth as much as you're asking for it. Recent sales? Truely, is seems like this city is keeping up with the Joneses on a whole new level. And, despite all of the nice, new stuff around here, everyone looks depressed, either that or medicated. Anyone else think so?
What is your asking price based upon? What you paid for it 7 years ago with a return of +20%. Perhaps it's all of the 'one-of-a-kind' custom upgrades (that you and your hundred other neighbors have), or is it based on something that I'm just missing?
Please, sell me your house! I'm a willing, able, and ready buyer. But, don't insult me by listing your home for 50-100K more than it's worth (as established by the market, not Zillow, Trulia, or your pva). Wake up! If your home hasn't sold yet, there's probably a good reason. Most likely, it's way overpriced and I'm not even looking in that range.
Hey, I understand, I took a hit on my house in Ohio when I moved here, but come on people, this city, and more specifically, this area is way overvalued/overpriced for what people are asking.
Signed,
Bewildered
Dear Bewildered,
Do you think that you're the first to write a rant like this?
Location: livin' the good life on America's favorite island
2,221 posts, read 4,390,912 times
Reputation: 1391
Well, I guess a homeowner can sell their house for what they want. Frankly I think there are bargains out there. I too moved from NE Ohio (although probably the most expensive area in OH, Chagrin Falls) I found prices cheaper in 2004 than where I moved from. Obviously prices have come down significantly from 2004. I ended up building in the area you are looking.
How's the view from that high horse you're on? Do the blanket statements make it look any prettier?
My house is selling for w/in $5k of asking, 3 months and 2 weeks on the market. Not overvalued at all if you ask me. We knew we weren't going to get full asking due to the market, but we're getting exactly what we budgeted for.
"everyone looks depressed, either that or medicated"- seriously? You are fortunate to have employment at this time, not all of us have that oppurtunity. This recession has hurt many people in many ways, people are losing their jobs, houses. Usually when someone moves here from a different area without a choice, they always find something to complain about here in Charlotte. If you dont like the people here, see if you can go back to where you came from, we love it here, this is our home.
Housing prices are relative to the person seeking. Yes, I have seen a lot of houses that are over priced in Charlotte. I can think of 1 example off the top of my head - double wide within city limits that was originally priced over $250K, and then dropped to $190K. Yes, that is over priced for a doublewide. But, it came with 8 acres (appear to be unbuildable), so the seller could justify the asking price. It hasn't sold, but more power to them. I have been in several cities throughout Ohio ranging from Toledo to Cleveland to Akron areas. There are some great deals to be had in Ohio right now and I do believe that many places in Charlotte are over priced in comparison. But, that is based only off my experience. There was a time that Ohio was well overpriced as well.
Depressed? No worse than Ohio or Michigan. Except, you go up there and you get the "doom -n- gloom" crowd. Last time I was in MI, I heard many rants about the world coming to an end and Armageddon. Last job I had in Ohio, I got nothing but doom stories from the general public I worked with daily.
It is what you make of it. I found a place to purchase, and I'm purchasing for more than $175K less than what it sold for in 2007. I couldn't be happier with my pending purchase.
Charlotte surrounding area as a whole never really experienced the crash from the recession that destroyed home values across the US. Most houses only lost a little equity if that. A realtor sends listings/sales in my general area (Fort Mill) and most people even to date can sell their homes for what they paid if not a tad more in a fairly short time (average about 1.5 months); to note, they are still building new homes in my community and a surrounding community.
You have moved to a desireable metro area and are trying to buy in one of the new trendy areas (union county). Most people factor that into their price. A good majority of people work with a real estate agent so they get help from them in pricing it based on comps.
For you, do realize it is a buyer's market here. You don't like the asking price so negiotiate. They don't like it, move onto the next. There are plenty of new home builders down there in addition to resales. Good luck on your search. If you are having issues finding property in that area for the price you want to pay, you might seek the help from a real estate agent.
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