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Posted on 10/11/14 at 9:34 pm to RollTheRock
Yes that is my bad, I meant to say if I don't know if you do. 
Posted on 10/11/14 at 9:43 pm to Grouper Picatta
Posted on 10/11/14 at 10:23 pm to RollTheRock
Don't pay over asking. You will lose money
Posted on 10/11/14 at 11:32 pm to RollTheRock
We just moved from our "forever house". When we built it 13 years ago, if you would have told me we would sell it, I would have called you crazy.
But what seemed like the perfect house with a baby and a three year old, was way too much house once the kids were older and never around and once I got older and tireder and hated fricking cleaning a bunch of rooms we never used.
We went from a 5,000 sq. ft. new house in a mcmansion type neighborhood to 3,500 sq. ft. 100+ year old house in our historic district downtown and I could not be happier but 13 years ago, I never would have thought we would do that.
Never plan on "certainties" for the basis of a huge investment. Life has a way of changing things up.
But what seemed like the perfect house with a baby and a three year old, was way too much house once the kids were older and never around and once I got older and tireder and hated fricking cleaning a bunch of rooms we never used.
We went from a 5,000 sq. ft. new house in a mcmansion type neighborhood to 3,500 sq. ft. 100+ year old house in our historic district downtown and I could not be happier but 13 years ago, I never would have thought we would do that.
Never plan on "certainties" for the basis of a huge investment. Life has a way of changing things up.
Posted on 10/11/14 at 11:32 pm to Cashmoney99
Believe it or not, some agents will LIE and tell you others are interested when they are not. And you had better put in a high offer and quick.
I've bought dozens of houses and never paid above asking price. But might if the situation dictates.
I've bought dozens of houses and never paid above asking price. But might if the situation dictates.
Posted on 10/12/14 at 9:51 am to RollTheRock
quote:
How much higher than asking price would your offer
It depends on a lot of things...
Where's it located and what's the asking price? Typically, a full price offer with a clean contract without a bunch of demands with a very quick closing date (7 days) and all cash should get the deal done. No appraisal contingency too.
Posted on 10/12/14 at 10:20 am to BamaChick
Quality brag.
Posted on 10/12/14 at 10:33 am to stout
quote:
The other bad thing about that is, I understand NOLA is kicking it in high gear with the Gentrification, but what happens when white flight happens again? Locations shift too much.
I think that this is an interesting dynamic. We all expect white flight based on what we saw once before; I don't think it will be the same this time around, as younger generations seem more drawn to urban living and community; millennial urbanites have found suburbs to be sterile, and rather boring.
Fifteen years ago, few people thought it viable to raise children in these major cities--now I see just as many strollers in cities as dogs.
If younger generations take over the schools to force change and improvement as they have in already gentrified areas, I see no reason for many of these types of people to head for the 'burbs, as long as they as they can foot the tax bill.
This post was edited on 10/12/14 at 10:36 am
Posted on 10/12/14 at 11:01 am to RollTheRock
Slightly off topic but with interest rates so low why not finance more than 10%? The money you gain off of investing will be better than the interest rate. Additionally that money that you gain will offset the higher than asking purchase price.
Posted on 10/12/14 at 8:03 pm to CaptainJ47
Update: I didn't get the house. Somebody offered 100k over asking price today. Crazy. The housing market in New Orleans is like ebay right now 
Posted on 10/12/14 at 8:08 pm to RollTheRock
quote:
Somebody offered 100k over asking price today.
Hopefully they are paying cash. It might not appraise out.
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