New homebuilders aren’t spending any money on Home Theaters. The homeowner is, through the homebuilder. No builders are putting in $25k systems as "standard" because the builder sells houses, not home theater. This is smart.
Now, that said, Homeowners are buying Home Theaters in droves and spending lots of money. Smart homebuilders are letting them. Shortsighted homebuilders are staying away from custom add-on options on new homes. They get stung by crap contractors who are working for the homeowner. They could make a profit in this arena, but, they just need to qualify the contractor better, and most builders don’t know how.
This is the business I am in, and will be franchising soon, and I will start teaching Home Entertainment, to include anything low voltage, so well aware of the builder mentality.
Why do you ask?
I know my realtor can find this information, but I was wandering if there is a website or something that I can access as a homebuyer to find out what other homes in my buying area have sold for. I am looking to put an offer in on a hom and don’t want to bid too low or high…
Thanks.
I am in the Cincinnati area.
I don’t know about Ohio but in Texas sale prices are not public information so you would have to get it from the Realtor’s MLS system. Also in the states where it is public information it is normally just the sales price. It would be very important to find out why a home sold for so much or so little- did the seller pay some of the buyer;s closing costs? or re-carpet the home? or some other concession? You would likely need to get that information from your buyer’s agent (not the listing agent).
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I have found Zillow estimates to several thousands off what homes actually sell for. Click on their button that shows what address’s they are using as comparables. In my area the houses they use are not really from the same area and are not similar at all.
Hi, I was just wondering how to find out more info on buying forclosed homes. And what are the pros & cons? Are there local sites by county or state and what are the procedures to actually becoming the new owner of one of these homes? Thanks!
We bought a foreclosed home last year. We found it in the MLS, just like any other house. Our Realtor showed it to us. And several others that were also foreclosures. There were no additional fees, but there was some extra paperwork to sign (mostly releasing the bank from any liability).
We had to wait 6 weeks for a closing on a cash offer after our bid was accepted by the bank.
The house was vacant for 2 years, and had not been well maintained prior to that. Once we had the power turned on the furnace, fridge, and hot water heater did not work. There were some plumbing issues as well.
All that aside, we still paid less than half of the market value of this house. We are almost done with the renovations (we have done everything ourselves), and it is finally starting to feel like home.
My advice to you would be to call a Realtor. There are some who specialize in foreclosed properties. If I am not mistaken GMAC is one company that does.
Getting ready to build a new home. Have hired an architect to draw the plans for us. We know that the house is going to be a 2-story "farmhouse" as it is being built on quite a bit of land. We have 2 small children under the age of 7. We built the home that we currently live in now without much thought and research and I hate it. It id definitely NOT kid-friendly. I want to really RESEARCH this home before we have our second meeting with architect, so I am asking this question again. IS there anything that anyone has in their house that they love, that they hate, AND is there anyting that we should consider or building specifications that we should use in construction our new home. I want to have EVERYTHING in order before we break ground! Any suggestions would be greatly appreciated!
THANK YOU!
1.Stairs and kids don’t go together, put a landing half way
2.A farm house has a porch, (usually wrap around) the kids will love it.
3 Make the porch deck 7′ wide and over hang the eve by two feet.
4 Make the garage 30 x 30
5 make the entry to the front porch at least four feet wide.
6 if you are having a basement make the walls at least 9 ft tall.
7 have separate a/c, heat units for each floor.
8 place the laundry near the master bed room (bedrooms are where 90% of the wash is generated)
9 enjoy!
I bought a home that is still under warranty. Recently I have discovered that issues I’m dealing with like basement flooding, poor plumbing etc. is being dealt with by other owners in the community. While fixing it is great, some of the CAUSES of the issues aren’t being fixed. Hence I want out. Can I force a builder to buy back a property that is obviously a lemon?
You aren’t going to be able to force them to take it back. You do have a home warranty for probably a year and you can require them to fix everything that isn’t right free of charge. If they don’t fix things, then have them fixed by an expert in the field and go to small claims or civil court and sue the builder. This is a common problem.
In about 18mos I am thinking about building a custom home. I hear rumors that you save more custom building than just buying, is that true? To build a 6-7 bedroom house, would that be less than just buying a 6-7 bedroom house? What have been your building experiences? What do I pay for in this process?
Most would depend on the contractor hired to build.If you can hire a contractor for just labor costs you can save a bunch building.Providing you are the one buying the materials.With all the insurance buy out retailers you can get materials extremely cheap.
Design and square footage has a large influence on costs when building.Lumber prices are up right now.Where as it is a buyers market in real estate,depending on where you are looking to buy.Building verses buying has one advantage.The cost of building is always less then the finished appraised value.Which means you already have equity built up.Buying then renovating can be tricky and costly if you don’t have experience in these fields.
I built my own house over a 4 year period of time.I bought all the materials myself and did 90% of the work.I have no mortgage.My total cost to build was 17,000 my appraisal is 75,000 that’s on 2,000 square feet and 20 miles from the nearest city.The same sized house closer to the city would fetch about 125,000.
Most just depends on what you prefer.
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Airstream
I am looking to buy a home and have found a great property with a modular home tied down to a solid foundation but i can’t seem to find any info on if they are allowed.
Modular homes are ALWAYS on a permanent foundation…they are treated no differently for lending purposes than traditional site-built homes.
Yes, they are eligible for rural development loans, provided they are in the right location.
Don’t confuse modular homes with manufactured homes.
Manufactured home = trailer
Modular home = a stick-built home built in a factory and moved to the location.
how could a realtor selling new homes project a value based rerail image ?how could a realtor selling 20 year old homes project such an image?
Value based retail image is used quite often in the commercial real estate industry. Maybe what you’re trying to ask is how does a real estate agent find the current market value differences between new houses and 20 year old houses on the market?
Aside from individuals having houses built around old neighborhoods, many contractors build houses in groups, creating a new market value for that set of homes, but still close to the selling range of the older neighboring houses. They might put a higher listing price on the newer houses, but houses only sell for what buyers are willing to pay, if they don’t get too many offers, then they’ll lower the price. Once the houses start selling at that price, that’s when you know what they’re worth.
A magical pocket of homes near vibrant “Bloor West Village” – created at http://animoto.com
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