collapse

* Recent Posts

NM by StillAWarrior
[Today at 12:22:33 PM]


Our coach isn't "top tier," but he ain't half bad by NCMUFan
[Today at 12:02:06 PM]


22-23 W-L Predictions by Goose
[Today at 08:10:19 AM]


EGB's by Dr. Blackheart
[Today at 06:54:42 AM]


More conference realignment talk by Billy Hoyle
[Today at 12:37:17 AM]


2022 Team Outlook by tower912
[September 28, 2022, 07:36:52 PM]


Big East Roster Updates by tower912
[September 28, 2022, 02:18:05 PM]

Please Register - It's FREE!

The absolute only thing required for this FREE registration is a valid e-mail address.  We keep all your information confidential and will NEVER give or sell it to anyone else.
Login to get rid of this box (and ads) , or register NOW!


Author Topic: House Buying  (Read 7627 times)

TAMU, the Wizard of MU Basketball

  • All American
  • *****
  • Posts: 20125
  • SPELLS! MAGIC!
Re: House Buying
« Reply #25 on: April 22, 2022, 09:34:48 AM »
I've heard the love letters are more for houses not on the market in hopes that you find someone who's about to sell and just contacts you directly instead of putting it on the market. I know one person who it actually worked for
God, grant me the serenity to accept the things I cannot change,
The courage to change the things I can,
And the wisdom to know the difference.

~Prayer of the Scooper

wadesworld

  • All American
  • *****
  • Posts: 15253
Re: House Buying
« Reply #26 on: April 22, 2022, 09:43:01 AM »
We went through the ringer of homebuying a threeish years ago. Bid more than asking and got outbid on so many houses that I lost count (high teens minimum). We got this whole "write a letter" advice too and while we did it, it makes no dang sense to me. When I'm selling my house I'm taking the highest $, I don't care about you wanting a yard for your puppy to run around in. Do sellers actually take these things into account?

We had letter writing recommended to us by more than one person.  We asked our agent about it and she actually said while it's not illegal, it's kind of unethical and can create some bias in the selling process.
Black Lives Matter

StillAWarrior

  • Registered User
  • All American
  • *****
  • Posts: 3342
Re: House Buying
« Reply #27 on: April 22, 2022, 09:43:27 AM »
Have you looked at "private sales"? There are folks that need to sell quickly so they go through an "agent" that looks for customers that want to buy quickly as well. These homes are not usually listed and the seller just wants an honest price for their home and some don't want the hassle of a bidding war. I would say just google private sales in your area and you might strike  gold; just a thought.

I might be misunderstanding your point. They are actually hoping for a bidding war and that a lot of people will be interested and will drive the price up. Can't the seller always end the "hassle of a bidding war" at any point by accepting an offer?

Honestly, it's a very simple, humble house. It's appreciated quite a lot since they purchased it 25 years ago, but even in this market it's probably not even a $500k home. But it's a nice house and I hope they find some people who love it and will pay them for it. They're planning to list within a week or so.
Never wrestle with a pig.  You both get dirty, and the pig likes it.

StillAWarrior

  • Registered User
  • All American
  • *****
  • Posts: 3342
Re: House Buying
« Reply #28 on: April 22, 2022, 09:47:28 AM »
We had letter writing recommended to us by more than one person.  We asked our agent about it and she actually said while it's not illegal, it's kind of unethical and can create some bias in the selling process.

Interesting. Of course it can create some bias in the selling process...that's the point. I'm having a really hard time understanding why that could possibly be unethical. I've never done it and, like jficke13, wonder why it would work, but it doesn't seem like an ethics situation to me at all.  Unless, of course, you think that the ethical position is to ensure the highest price (and fee) possible.
Never wrestle with a pig.  You both get dirty, and the pig likes it.

MUBurrow

  • All American
  • *****
  • Posts: 1280
Re: House Buying
« Reply #29 on: April 22, 2022, 09:52:50 AM »
Interesting. Of course it can create some bias in the selling process...that's the point. I'm having a really hard time understanding why that could possibly be unethical. I've never done it and, like jficke13, wonder why it would work, but it doesn't seem like an ethics situation to me at all.  Unless, of course, you think that the ethical position is to ensure the highest price (and fee) possible.

I don't know this for sure, but given the (appropriate) sensitivity around historically racist residential real estate practices, I can understand if agents are uneasy about sellers taking into account certain characteristics of their buyers rather than just taking the best economic offer.

Sultan Sultanberger

  • All American
  • *****
  • Posts: 8086
  • Send it in medium-sized fella!
Re: House Buying
« Reply #30 on: April 22, 2022, 09:56:43 AM »
We once bought a house from a couple who were selling without a realtor.  The whole process went fine, with just a couple small hiccups (per usual), but at the closing they congratulated us and said "we are glad we are selling to the right family."  That creeped us out a bit.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

ATL MU Warrior

  • All American
  • *****
  • Posts: 2415
Re: House Buying
« Reply #31 on: April 22, 2022, 10:08:37 AM »
We went through the ringer of homebuying a threeish years ago. Bid more than asking and got outbid on so many houses that I lost count (high teens minimum). We got this whole "write a letter" advice too and while we did it, it makes no dang sense to me. When I'm selling my house I'm taking the highest $, I don't care about you wanting a yard for your puppy to run around in. Do sellers actually take these things into account?
For a lot of people selling the home they raised their family in for many years is a very emotional decision and process.  I could see how a seller might give preference to a slightly lower (but competitive) offer if they knew the buyer was a younger family that would be raising children in the home. 

I'm not saying I would do that, but I might.  But, it's easy to say that when the house we bought 4 years ago would probably sell for close to double what we paid for it and almost 150% what we still owe on it.  I could afford to be choosy for emotional reasons if I wanted to.

Also need to consider the fact that many people writing letters are probably full of sh*t and are writing what they think sellers want to hear rather than the truth. 

ZiggysFryBoy

  • Registered User
  • All American
  • *****
  • Posts: 4688
  • MEDITERRANEAN TACOS!
Re: House Buying
« Reply #32 on: April 22, 2022, 10:14:37 AM »
If I got a sappy letter about my goddammed house, that jackass is going to the bottom of the pile of offers.

jficke13

  • All American
  • *****
  • Posts: 1318
Re: House Buying
« Reply #33 on: April 22, 2022, 10:15:18 AM »
Who knows, I guess it's hard to imagine that letter writing could possibly hurt you, so it's on balance a low cost potentially high reward strategy (even if it's one I think is rather silly). So pen to paper, puppies, kiddos, yards, give 'em the works.

More to the point, I'm afraid I don't have any good advice besides offer more and offer on lots of houses. Fire enough bullets and eventually one is bound to land. Sucks though.

Good luck.

jficke13

  • All American
  • *****
  • Posts: 1318
Re: House Buying
« Reply #34 on: April 22, 2022, 10:16:08 AM »
If I got a sappy letter about my goddammed house, that jackass is going to the bottom of the pile of offers.

lol, cross posted with my last one. I guess there are some people where the letter would do harm.

ZiggysFryBoy

  • Registered User
  • All American
  • *****
  • Posts: 4688
  • MEDITERRANEAN TACOS!
Re: House Buying
« Reply #35 on: April 22, 2022, 10:17:28 AM »
lol, cross posted with my last one. I guess there are some people where the letter would do harm.

I remember the letter you wrote me in crayon.  Only moved you to 2nd bottom.  ;D

rocky_warrior

  • Global Moderator
  • All American
  • *****
  • Posts: 8364
Re: House Buying
« Reply #36 on: April 22, 2022, 10:18:40 AM »
If I got a sappy letter about my goddammed house, that jackass is going to the bottom of the pile of offers.

What if it's from Joey?
“Normal is an illusion. What's normal for the spider is chaos for the fly.”  -Morticia Addams

ZiggysFryBoy

  • Registered User
  • All American
  • *****
  • Posts: 4688
  • MEDITERRANEAN TACOS!
Re: House Buying
« Reply #37 on: April 22, 2022, 10:19:20 AM »
What if it's from Joey?

Joey is lookin at buying Nads' house.

Sultan Sultanberger

  • All American
  • *****
  • Posts: 8086
  • Send it in medium-sized fella!
Re: House Buying
« Reply #38 on: April 22, 2022, 10:20:15 AM »
What if it's from Joey?

Then it would most certainly be in crayon.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

mu_hilltopper

  • Warrior
  • Global Moderator
  • All American
  • *****
  • Posts: 7169
    • https://twitter.com/nihilist_arbys
Re: House Buying
« Reply #39 on: April 22, 2022, 10:21:41 AM »
Understood about creating bias when writing a letter to the sellers .. that is indeed the point.

Speaking for myself, (but likely 90% of all others) .. I am more emotionally attached to my home than any other item I possess.  I've poured so much sweat and tears into it, the windows, the doors, the roof, the trees, the neighborhood. 

I want to know who I am entrusting my home to for the future, and only looking at the dollars someone is giving me for it isn't nearly enough information.   Example: If the highest bidder wanted to cut down my trees, I would tell them to fock right off.

If they wanted to bulldoze it and turn it into an Arby's, I'd uh, well, hmm. Ok, that's a bad example.

ATL MU Warrior

  • All American
  • *****
  • Posts: 2415
Re: House Buying
« Reply #40 on: April 22, 2022, 10:21:48 AM »
What if it's from Joey?
That offer would go right in the trash.

dgies9156

  • All American
  • *****
  • Posts: 3558
Re: House Buying
« Reply #41 on: April 22, 2022, 10:26:44 AM »
I might be misunderstanding your point. They are actually hoping for a bidding war and that a lot of people will be interested and will drive the price up. Can't the seller always end the "hassle of a bidding war" at any point by accepting an offer?

Honestly, it's a very simple, humble house. It's appreciated quite a lot since they purchased it 25 years ago, but even in this market it's probably not even a $500k home. But it's a nice house and I hope they find some people who love it and will pay them for it. They're planning to list within a week or so.

We bid over ask on the home we are buying Tuesday. We did so in part because we R-E-A-L-L-Y wanted the house (though right now with packing, I'm not so sure).

We're in Florida and you see that where we live. Also, we did our analysis and think the real estate agent underpriced the ask price. Based on five other sales in the same neighborhood, we think we paid about $40.00 per square foot less than market. They had multiple offers after a three-day showing period.

Sultan Sultanberger

  • All American
  • *****
  • Posts: 8086
  • Send it in medium-sized fella!
Re: House Buying
« Reply #42 on: April 22, 2022, 10:30:47 AM »
Understood about creating bias when writing a letter to the sellers .. that is indeed the point.

Speaking for myself, (but likely 90% of all others) .. I am more emotionally attached to my home than any other item I possess.  I've poured so much sweat and tears into it, the windows, the doors, the roof, the trees, the neighborhood. 

I want to know who I am entrusting my home to for the future, and only looking at the dollars someone is giving me for it isn't nearly enough information.   Example: If the highest bidder wanted to cut down my trees, I would tell them to fock right off.

If they wanted to bulldoze it and turn it into an Arby's, I'd uh, well, hmm. Ok, that's a bad example.


I doubt 90% of people are as emotionally connected to their house as you are.  But the longest I have owned a single house has been 12 years, and since that one was a bit of a bitch to sell, I was just really to get rid of it.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

rocky_warrior

  • Global Moderator
  • All American
  • *****
  • Posts: 8364
Re: House Buying
« Reply #43 on: April 22, 2022, 10:32:34 AM »
I am more emotionally attached to my home than any other item I possess.

Hm, that's a terrible way to think about one of the biggest investments of your life.  I'm still a little emotionally attached to my first house, but nonetheless I rent it out like an high priced 'escort"
“Normal is an illusion. What's normal for the spider is chaos for the fly.”  -Morticia Addams

4everwarriors

  • Registered User
  • All American
  • *****
  • Posts: 15444
Re: House Buying
« Reply #44 on: April 22, 2022, 10:36:20 AM »
Joey is lookin at buying Nads' house.



If Joey really wants Nads' crib, he'd wise to show up at da front door with a vanilla ice cream cone from Leon's, aina?
"Give 'Em Hell, Al"

mu_hilltopper

  • Warrior
  • Global Moderator
  • All American
  • *****
  • Posts: 7169
    • https://twitter.com/nihilist_arbys
Re: House Buying
« Reply #45 on: April 22, 2022, 10:55:30 AM »
I've lived in my house, my first, for 24 years now.  Brought a wife home, brought two infants, two pets home.   It's not an investment, it's my home.

I have no problem having a 2nd home, but we have zero plan for moving ever.

jesmu84

  • All American
  • *****
  • Posts: 5603
Re: House Buying
« Reply #46 on: April 22, 2022, 10:55:53 AM »
Commidification/financialization of items like housing is bad for society.

Re:letter - if I knew I was selling to a family vs hedge fund, family would absolutely get preference.

Sultan Sultanberger

  • All American
  • *****
  • Posts: 8086
  • Send it in medium-sized fella!
Re: House Buying
« Reply #47 on: April 22, 2022, 10:59:58 AM »
I've lived in my house, my first, for 24 years now.  Brought a wife home, brought two infants, two pets home.   It's not an investment, it's my home.

I have no problem having a 2nd home, but we have zero plan for moving ever.


Honestly I am glad I am not that emotionally attached to my house.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

ChitownSpaceForRent

  • All American
  • *****
  • Posts: 5856
Re: House Buying
« Reply #48 on: April 22, 2022, 11:04:33 AM »
I feel for ya Wades, I managed to miss the housing boom cause I got lucky and bought in September 2020, but certainly feeling a similar effect looking for a new car right now.

warriorchick

  • All American
  • *****
  • Posts: 7599
Re: House Buying
« Reply #49 on: April 22, 2022, 11:06:53 AM »
Who knows, I guess it's hard to imagine that letter writing could possibly hurt you.

Good luck.

Here's a couple of examples:

"The yard would be perfect to hold my daughter's quinceanera".

"I can just picture our Menorah in the bay window".
Have some patience, FFS.