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All-TigerNet [11217]
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Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 11:04 AM
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three months ago at $1.5 million. After a month, they cut it to $1.25 million. After two months they cut it to $950k. At three months they declined a $850k cash offer.
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Heisman Winner [136754]
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So much new construction now
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Jul 29, 2023, 11:08 AM
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It’s hard to move a lived in house unless you have a master salesman like Spud on your team
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All-TigerNet [11217]
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Re: So much new construction now
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Jul 29, 2023, 11:28 AM
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The house is overpriced as is because there is much work to be done. Many of these houses built in the 1990's are showing their age and style.
But a house that doesn't sell at almost HALF of the original listing price can only be the victim of some bad advice from a less than informed agent.
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110%er [6505]
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Re: So much new construction now
Jul 29, 2023, 12:33 PM
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That depends. I know people who have houses listed that they really don't want to sell. They are listed at stupid prices that the owner would take, but the owner has no desire to sell at market price. Realtors are happy to list, even knowing it's a crazy price looking for an idiot.
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Heisman Winner [120143]
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All-TigerNet [11217]
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Re: Or my son….***
Jul 29, 2023, 11:46 AM
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I'm listening...
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110%er [8706]
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CU Medallion [65995]
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ANd yet, there are other cases where the house goes on the
Jul 29, 2023, 11:53 AM
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market, and a bidding war ensues, with the final selling price being well ABOVE what the original asking price was. Truly NUTZ!
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Orange Blooded [4196]
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Re: Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 11:58 AM
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Welcome to Joe flation
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All-In [27400]
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Re: Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 12:16 PM
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Old Joe sure hasn’t hurt the land sales in my area. I bought a tract for forty thousand about 20 years ago and I’m selling it for a million eight!!!! Thanks Joe.
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Orange Blooded [4595]
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Re: Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 12:23 PM
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The real estate market is a house of cards. I see houses sitting a long time now. Interest rates were kept too low for too long and now we are going to see the impact. I would hate to be in commercial real estate at the moment.
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CU Medallion [54005]
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All I can say is that it must have been tremendously over
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Jul 29, 2023, 12:38 PM
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priced to begin with, because I am not seeing that in any price ranges right now...Still crazy market. I showed a 1.69M house on Keowee that came on the market on Tuesday about 9 am. It was under contract by Thursday.
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110%er [9099]
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Re: Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 1:27 PM
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I'm a home inspector and there may be some issues that were uncovered that caused the home to sit. I've inspected bunches of houses that look great on the inside, but underneath, or the roof or the attic, there's some serious issues that are uncovered.
I had one home that I inspected, discovered in the crawlspace that there had been a fire and that the piers were replaced poorly. Called it out. The deal didn't go through, I inspected the same house a year later, the owner sealed the crawlspace and you couldn't inspect it. That killed the deal. The listing agent was PO'd, but fix it, disclose it and account for it in your listing price.
As far as the market goes, here in the lowcountry, it is still going pretty good for new and used houses. The issue, especially north of the Broad, is that there is little inventory, so houses are still selling quick.
While it's not a crazy as it was during the covid, it's still going pretty strong down here.
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Orange Blooded [4595]
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Re: Crazy real estate market. Upstate house and land was listed
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Jul 29, 2023, 1:33 PM
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South Carolina and the south in general has the benefit of people leaving high cost of living cities. It’s great on paper, but it’s driving up the cost of everything for the locals.
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Legend [17748]
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For now, real estate market continues to boom in Savannah
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Jul 29, 2023, 1:34 PM
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Lots of growth related to Ports/Logistics/Warehouses, Tourism/Travel Destination, Gulfstream/Aerospace/Aviation, Savannah College of Art & Design, new Hyundai Manufacturing plant, Retirees from Northeast/Midwest, etc. Homes continue to sell quickly at over list price.
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110%er [9099]
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Re: For now, real estate market continues to boom in Savannah
Jul 30, 2023, 5:06 PM
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I'm hearing that the Hyundai folks are bring in hundreds of Koreans to work at the plant.
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