Posted by Darlene on September 27, 2008 at 17:59:42:
I have read several of your posts and would like to know if you live in Atlanta?
House for sale - Posted by Kirk Walker
Posted by Kirk Walker on October 02, 2006 at 18:58:05:
Hello I just came back from Charlotte,NC to see a house for sale at $152,500. This house is in a great location its only 2years old and only had one resident who had it build from the ground up.
A huge master bedroom with to guest rooms, 2/1 bathrooms and a great big back yard. I live here in New Jersey and never did i see anything that could match this house and for this price. I have all the paper work the mortgage is $1000 a month.I feel that this is the home for me to start my real start journey is there anything that is important that I am missing to help me make the move. Thanks for all your help.
Re: House for sale - Posted by mcole
Posted by mcole on October 03, 2006 at 07:26:19:
James is right. You can’t compare NJ and NC. They have nothing to do with each other. The question is? is this really a good deal for NC?
The other thing I?m a bit confused about is whether or not this home is an investment? Or, is this going to be your personal residence?
If it?s an investment, what are planning to do with it once you own it?
Re: House for sale - Posted by James Harris
Posted by James Harris on October 02, 2006 at 21:22:49:
One important point that I saw right off, You don’t compare North Carolina and New Jersey properties.
Re: House for sale - Posted by Kirk Walker
Posted by Kirk Walker on October 03, 2006 at 19:01:48:
I think that comparing properties is part of the business. For the most part when you are dealing with price, location, finance and a lot of other matters that come along with this business.Help me to understand your point. Thank You for the follow up.
Re: House for sale - Posted by Jonathan (NC)
Posted by Jonathan (NC) on October 03, 2006 at 14:06:53:
James, you must have an exit strategy for the home in Charlotte. What part of town is this located in? I used to live in Charlotte and know it fairly well.
Jonathan
Re: House for sale - Posted by James Harris
Posted by James Harris on October 03, 2006 at 23:24:03:
You are absolutly right. However, you cannot compare properties that are not in the same vicinity. It is two entirely different markets. For example a 3/2 1800 sq. ft. in New York may cost anywhere from 300K to 500k. In the town I live in, Missouri, the same may cost only 100k -150k. So, if you are going to compare properties; it is best to use comps that are with in a mile of the subject property. This will give you a better market value. i.e. I know if a place here that has been on the market for a while. It is a 4/2 and 4600 square ft house on 20 acres fmv is 310k I could have bought it for 272k or lease optioned it for 272k. Couldn’t find anyone who was willing to pay $2500 per month on a rent to own.
Re: House for sale - Posted by James Harris
Posted by James Harris on October 03, 2006 at 17:03:51:
Johnathan, Sorry that you misunderstood my post. I do not live in NC.