Thursday, April 12, 2012

Competition is Tough in Real Estate

So, we finally heard back from the bank and apparently our offer was not selected.  The difference between ours and the other offer was about $16k.  They ended up paying $100k over asking price for the property.  (Yikes!)  So when I look at it from that perspective I feel better bc I wouldn't pay that much over the list price for a house that needed quite a few fixes/changes and probably won't see a return that big for years (if at all) bc of the surrounding comps.


On a happy note, we put an offer in on a house that has only been listed for about a week and it was accepted!  Now on to the "fun" stages of inspections and counting down the days until closing.  We're praying that the inspection goes well (it's a newer house, so we don't expect there to be problems) and the closing date comes soon!  I was excited to hear that the chickens and coop come with the property, so check that off my wish list! lol     

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