My house went on the market today...

DSG2003Mach1

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it's just under 1% here thanks to the tourist tax. The appraised value is almost always a decent chunk under market value (I want to say last year the house was realistically 300k and they had a value of 230). With the homestead exemption there is a cap on the amount your property tax can go up each year.
 

VegasMichael

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GNBRETT

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Bro, ppl are paying like $40-50k above asking prices these days smh. That was plain dumb. Why not wait and see what other offers come in?

U had absolutely nothing to lose and everything to gain. Should have listened to ur realator smh. A fool and his money are soon parted smh
...and I got one offer for cash 14k above asking before noon and took it immediately. Buyer bought it sight unseen. My agent asked if I wanted to wait and see if we could get something higher but I said no and he agreed with me. We had actually listed the place a tad more than area comps had been selling for. I was not comfortable with the idea of a bunch of strangers traipsing through my home. Hope the deal goes through with no issues.


Edit: it was 14k above list, not 12k.
 

Zemedici

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Just accepted an offer 30k over asking on my house. Going to hold the cash and pounce in a year or so.

I wanted to do this so ****ing bad

Could pocket $200k rn off ours

Live in swank apartment / condo for a year with rent paid up front

Jump in a year or two, pay cash

Couldn’t convince wife to go back to apartment :( she likes having to not share walls, which i understand
 

Blk04L

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I wanted to do this so ****ing bad

Could pocket $200k rn off ours

Live in swank apartment / condo for a year with rent paid up front

Jump in a year or two, pay cash

Couldn’t convince wife to go back to apartment :( she likes having to not share walls, which i understand


If we didn't have kids I think we would of sold our house and pocketed that much or more. But, with the cost of rent being beyond stupid down here that's not in ghettoville we are just going to roll the dice and hope this shitshow isn't 08 bad.
 

VegasMichael

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Bro, ppl are paying like $40-50k above asking prices these days smh. That was plain dumb. Why not wait and see what other offers come in?

U had absolutely nothing to lose and everything to gain. Should have listened to ur realator smh. A fool and his money are soon parted smh
The house was on the market after that deal fell through for two weeks and not a single offer or request to show. Don't assume you know what's going on everywhere.
 

5.2Leader

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Bro, ppl are paying like $40-50k above asking prices these days smh. That was plain dumb. Why not wait and see what other offers come in?

U had absolutely nothing to lose and everything to gain. Should have listened to ur realator smh. A fool and his money are soon parted smh

Take the money and run!


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VegasMichael

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I wanted to do this so ****ing bad

Could pocket $200k rn off ours

Live in swank apartment / condo for a year with rent paid up front

Jump in a year or two, pay cash

Couldn’t convince wife to go back to apartment :( she likes having to not share walls, which i understand
Keep working her, Josh. Tell her it will only be temporary.
 

COBRA97SVT

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The house was on the market after that deal fell through for two weeks and not a single offer or request to show. Don't assume you know what's going on everywhere.

Im in a small town it hasnt quite hit here yet. Its tough to leave but i felt like this was my best chance to cash in on my starter home.
 

MG0h3

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That's what scared me. I had zero interest in my place from anyone until that buyer came along. I have no regrets. I checked my former zip code in Vegas and the amount of price reductions going on is crazy.

I sold my place at the beach a touch early (Dec) but was cash with zero asks.

Saved @30k in realtor and closing cost fees.

HOA was/is a ****ing disaster and I’m still on the email list and it’s only getting worse. There are big assessments coming to square the property away.

I have missed so many stock plays by being greedy and wanting the absolute top or bottom and then screwing myself.

I’ll dump the @150k I made into the stock market and I should make out ok.


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5.2Leader

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VegasMichael

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I sold my place at the beach a touch early (Dec) but was cash with zero asks.

Saved @30k in realtor and closing cost fees.

HOA was/is a ****ing disaster and I’m still on the email list and it’s only getting worse. There are big assessments coming to square the property away.

I have missed so many stock plays by being greedy and wanting the absolute top or bottom and then screwing myself.

I’ll dump the @150k I made into the stock market and I should make out ok.


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My position was/is similar. I had two HOA's that were very difficult for me and my buyer to deal with. Plus there was a sid/lid to be paid off which shows on record as a lien which made the buyer nervous. FWIW: Special Improvement District (SID) and Local Improvement District (LID), respectively. These terms are levied by the city on districts in master-planned communities and used to collect additional taxes from properties within these districts. It's a joke but quite commonplace. I paid it off in time not to scare the buyer away.

I was like you and didn't want to get too greedy and was very happy with the $$$ I was pocketing. I always try to remember the Rothschild banking family's famous saying: We made most of our money buying before the bottom and selling before the top.

I'm already putting some into the stock market but will keep a decent cash cushion. Probably ladder some cd's with some of it. I'm getting an apartment this week or next for a year, and will decide after that if I will buy another home or not.
 

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