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Finally doing it! Selling in Buxton

By: FirebirdNC
3/8/2021 8:59 PM

I did place an ad in the classifieds section but I wanted to announce it here as well since not everyone looks at those on a daily basis. After years of trying to get things how we wanted them in our house before selling it we have finally decided it is time. Great location in Buxton on a gorgeous wooded lot with tons of privacy. You can see the full listing here: Click to follow link... Please PM me if you have any questions. You could finally have your dream of living on the Outer Banks!

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By: Tim-OBX
3/9/2021 8:06 AM

Are you not listing it with a Realtor to sell? Curious why not.

I see you and Zillow disagree with the value - not a surprise to me. Good luck.

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By: jfalba
3/9/2021 8:32 AM

5 bedrooms, wow! you should have no trouble selling. I think your price is quite fair IMO. I look around a lot.

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By: Bill
3/9/2021 12:40 PM

Good luck, in this market it should sell itself.

And regardless of what others may say, it you can't get the appraisal then it isn't worth what someone else says it is.

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By: KDHBreeze
3/9/2021 1:51 PM

Getting any appraisal at all is getting tricky.

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By: Alexy
3/9/2021 2:05 PM

Nice house at a good price.

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By: Bill
3/9/2021 2:24 PM

Getting any appraisal at all is getting tricky.

KDHBreeze


Yeah, sold my house in July and I thought the appraisal was a no brainer, only had $3k to spare, then the appraisal on my new home came in last week, 45K about what I paid the builder.

Who knows anymore.

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By: KDHBreeze
3/9/2021 2:54 PM

Getting any appraisal at all is getting tricky.

KDHBreeze


Yeah, sold my house in July and I thought the appraisal was a no brainer, only had $3k to spare, then the appraisal on my new home came in last week, 45K about what I paid the builder.

Who knows anymore.

Bill


That's pretty on target for the market uplift since you signed with the builder. For all the lemons life has handed out this year, you deserve it.

Don't forget to take into account value increase and materials costs in insuring against loss. Hopefully you'll never need it, but I feel for anyone who needed it this year. Building material are up an average of 112% nationwide over this time last year. It's crazy.

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By: Tim-OBX
3/9/2021 3:03 PM

Getting any appraisal at all is getting tricky.

KDHBreeze


Getting it quickly is - yes.

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By: J4yDubs
3/9/2021 3:25 PM

Good luck with the sell FirebirdNC. Looks like someone is going to get a good deal. Wishing you the best in your next adventure.

John

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By: Tim-OBX
3/9/2021 3:31 PM

Getting any appraisal at all is getting tricky.

KDHBreeze


Yeah, sold my house in July and I thought the appraisal was a no brainer, only had $3k to spare, then the appraisal on my new home came in last week, 45K about what I paid the builder.

Who knows anymore.

Bill


Understand what an appraisal is. It is not really a guess as to what the max you could possibly ever ever get for the house right now if you found the perfect person. It is not that but people like to think that is what it is. It really is a confirmation to the lender (who requires one) to show that the lender is making a good decision to loan you money for that house. And all they need do is show is enough to cover the purchase price. We often see the appraisals come in for exactly or slightly over the sale price - the appraisers can see the purchase price and so they know what to shoot for dollar wise and they usually don't stick out their necks more than they have to with a bigger number.

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By: KelLovesOBX
3/9/2021 4:44 PM

Getting any appraisal at all is getting tricky.

KDHBreeze


Yeah, sold my house in July and I thought the appraisal was a no brainer, only had $3k to spare, then the appraisal on my new home came in last week, 45K about what I paid the builder.

Who knows anymore.

Bill


Understand what an appraisal is. It is not really a guess as to what the max you could possibly ever ever get for the house right now if you found the perfect person. It is not that but people like to think that is what it is. It really is a confirmation to the lender (who requires one) to show that the lender is making a good decision to loan you money for that house. And all they need do is show is enough to cover the purchase price. We often see the appraisals come in for exactly or slightly over the sale price - the appraisers can see the purchase price and so they know what to shoot for dollar wise and they usually don't stick out their necks more than they have to with a bigger number.

Tim-OBX


Not since what happened in 2008 & 09. Grossly inflated appraisals caused a LOT of issues. Now they're very conservative which is a good thing.

Nice place, Firebird - good luck with the sell Thumbs up

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By: FirebirdNC
3/9/2021 10:54 PM

Are you not listing it with a Realtor to sell? Curious why not.

I see you and Zillow disagree with the value - not a surprise to me. Good luck.

Tim-OBX

We wanted to try Zillow first to see how things went and that was more of a money choice.
Zillow and I certainly see things differently I would love to get what they think the house is worth lol. They are comparing it with 5 bedroom houses on the beach and my place is not a comparison to that. We already have two viewings scheduled so we will see how it goes.

Thanks all for the good wishes this is certainly a big step for us!

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By: judyk
3/10/2021 12:15 AM

Best wishes, Firebird. Your home looks lovely.
Will you be staying on island in another abode?

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By: susig
3/10/2021 6:41 AM

Are you not listing it with a Realtor to sell? Curious why not.

I see you and Zillow disagree with the value - not a surprise to me. Good luck.

Tim-OBX


One of my fears of selling on my own is pricing the home properly. Especially in seller markets. Good luck!

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By: KDHBreeze
3/10/2021 6:59 AM

Getting any appraisal at all is getting tricky.

KDHBreeze


Yeah, sold my house in July and I thought the appraisal was a no brainer, only had $3k to spare, then the appraisal on my new home came in last week, 45K about what I paid the builder.

Who knows anymore.

Bill


Understand what an appraisal is. It is not really a guess as to what the max you could possibly ever ever get for the house right now if you found the perfect person. It is not that but people like to think that is what it is. It really is a confirmation to the lender (who requires one) to show that the lender is making a good decision to loan you money for that house. And all they need do is show is enough to cover the purchase price. We often see the appraisals come in for exactly or slightly over the sale price - the appraisers can see the purchase price and so they know what to shoot for dollar wise and they usually don't stick out their necks more than they have to with a bigger number.

Tim-OBX


Not since what happened in 2008 & 09. Grossly inflated appraisals caused a LOT of issues. Now they're very conservative which is a good thing.

Nice place, Firebird - good luck with the sell Thumbs up

KelLovesOBX


Now they're very standardized, at least if you're using federally backed mortgages. Sad that it took banks exploiting appraiser discretion and expertise to inflate values at purchase and constrain them later when refi of foreclosure was at issue. Of course it would be obvious in the statistics, but that would happen only in a financial crisis, and then congress would mostly be focused away from closely policing banks. Worked for a while, and the foreclosures paid off handsomely for the big banks.

Hardest part about getting an appraisal now is getting someone willing to come this far east for just one job, or maybe two. It's much easier when the sales market isn't very active everywhere, including close to home. I can't blame them for not wanting to spend a day doing one appraisal, when they can stay inland and do three or four in that time and make more money, but it's nerve wracking for people financing and watching their rate lock count down.

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By: JM-obx
3/10/2021 7:20 AM

We wanted to try Zillow first to see how things went and that was more of a money choice.
Zillow.....

FirebirdNC


Good luck, Firebird. This is a great time to sell with low interest rates and an increasingly mobile workforce.

If you don't succeed with Zillow, my recommendation would be to list your home on MLS using a flat fee MLS broker. It will cost you about $300 and you will still have to do the work (photos, showings, negotiations, etc.), but you'll gain the advantage of exposure on MLS. This will broaden your market,, and should result in interest among buyers' agents. You'll still pay the buyer's agents commission, but you will save on the listing agent's commission.

Buyers' agents usually work hard and earn their money, but listing agents do not always perform as well. The manner in which real estate commissions are structured and paid creates a financial incentive for listing agents to devote their time to seeking more listings and to minimize time marketing the listings that they already have. As long as your home is on MLS, you won't sacrifice much by eliminating the traditional listing agent.

Good luck to you in your home sale and in your future adventures!!! Exciting times!!! Thumbs up

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By: JM-obx
3/10/2021 7:28 AM

One of my fears of selling on my own is pricing the home properly. Especially in seller markets. Good luck!

susig
The answer, IMHO, is to hire an appraiser and then price accordingly. After you begin to market your property, remain willing to adjust your price based on the interest level.

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By: FirebirdNC
3/10/2021 7:33 AM

Best wishes, Firebird. Your home looks lovely.
Will you be staying on island in another abode?

judyk


We will be staying on the island for a few years at least while we build our dream home elsewhere.

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By: Tim-OBX
3/10/2021 7:54 AM



Hardest part about getting an appraisal now is getting someone willing to come this far east for just one job, or maybe two. It's much easier when the sales market isn't very active everywhere, including close to home. I can't blame them for not wanting to spend a day doing one appraisal, when they can stay inland and do three or four in that time and make more money, but it's nerve wracking for people financing and watching their rate lock count down.

KDHBreeze


There is no shortage of local appraisers here. This is what confuses us so much, banks are the ones that contact and hire the appraiser since they are working for the lender. The appraisers I know here all tell me the lenders hire the cheapest appraisers they can find and sometimes they are not here but in Raleigh or near there.

A couple years ago when the hiring the cheapest appraiser started showing up here. I contested an appraisal we got on an oceanfront house because the appraiser used comps in Kitty Hawk. I actually spoke with the appraiser who had recently moved here from the Charlotte area. While speaking with the appraiser I mentioned that he used a Kitty Hawk oceanfront comp to a house south of Kitty. The appraiser asked me why I was objecting to that house being used and I said because it is on a non-rebuild-able lot. He had no idea what I was talking about and stuck with his appraisal. Learning on the job is not the best way for an appraiser. I know of 2-3 more appraisals they messed up over the next year.

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By: KDHBreeze
3/10/2021 8:48 AM



Hardest part about getting an appraisal now is getting someone willing to come this far east for just one job, or maybe two. It's much easier when the sales market isn't very active everywhere, including close to home. I can't blame them for not wanting to spend a day doing one appraisal, when they can stay inland and do three or four in that time and make more money, but it's nerve wracking for people financing and watching their rate lock count down.

KDHBreeze


There is no shortage of local appraisers here. This is what confuses us so much, banks are the ones that contact and hire the appraiser since they are working for the lender. The appraisers I know here all tell me the lenders hire the cheapest appraisers they can find and sometimes they are not here but in Raleigh or near there.

A couple years ago when the hiring the cheapest appraiser started showing up here. I contested an appraisal we got on an oceanfront house because the appraiser used comps in Kitty Hawk. I actually spoke with the appraiser who had recently moved here from the Charlotte area. While speaking with the appraiser I mentioned that he used a Kitty Hawk oceanfront comp to a house south of Kitty. The appraiser asked me why I was objecting to that house being used and I said because it is on a non-rebuild-able lot. He had no idea what I was talking about and stuck with his appraisal. Learning on the job is not the best way for an appraiser. I know of 2-3 more appraisals they messed up over the next year.

Tim-OBX


Local appraisers aren't relevant for many of the large scale lenders because they have to contract with appraisal companies or conglomerates that cover a large portion of the areas they serve. Local appraisers apparently generally don't work for or with those larger services. It's not usually a problem because while the OBX is always a busy market, inland markets are less busy. Now that those are bustling as well, the appraiser has to sacrifice work to do it, and they don't want to. You'd think they'd just hire a local appraiser, but the trouble is they have contracts they need to honor that would be problematic for them to breach. Lenders and appraisers have more work than they can handle, so there isn't a financial motivation for them.

I've never waited more than 4 days for the appraisal to be done, and wouldn't now with my primary, but an acquaintance of mine hasn't been able to get an approved appraiser even with an offer of $2,000 over the normal fee, which is crazy. I gave her a list of local options and none of those were appraisers the lender could use. Told her to push for an exception or consider other financing where there might be a wait, but not this nonsense. Oddly enough, she was one of several people having the same issue, with different lenders.

There's no real learning on the job now with conventional federally backed loans. Their criteria is set and you can challenge the appraisal, but the appraiser you use has to be bound by the same criteria. They fixed one problem and sprouted a new one.

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By: NC Mtn Pirates
3/10/2021 11:19 AM

Best wishes,FirebirdNC. We also heard on Saturdays Extended Edition of Capt. Marty's fishing show that you're leaving Hatteras Harbor Marina! Sounds like a lot of big moves for you!! Good luck!

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By: Beach Fred
3/10/2021 7:59 PM

I’ve always thought that the best report on Saturday morning was from Jenny on the dock at HHM, with Allen at Tradewinds a close second. You’ll be missed on the radio Jennifer, but here’s to bigger and better things, Good Luck Thumbs up

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By: FirebirdNC
3/10/2021 8:40 PM

Best wishes,FirebirdNC. We also heard on Saturdays Extended Edition of Capt. Marty's fishing show that you're leaving Hatteras Harbor Marina! Sounds like a lot of big moves for you!! Good luck!

NC Mtn Pirates
I’ve always thought that the best report on Saturday morning was from Jenny on the dock at HHM, with Allen at Tradewinds a close second. You’ll be missed on the radio Jennifer, but here’s to bigger and better things, Good Luck Thumbs up

Beach Fred


Thanks that means a lot to me! Yes after 18 years and 11 months I resigned from the Marina. I got an amazing offer from Outer Beaches to join their management team and I couldn't pass it up. I am still working some as a vet tech as well so I am BUSY. I have been working 7 days a week for the last year. With this new job, I will actually have a day off and still be making more so I am excited smiley.

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