All Forum Posts by: Zach Rubin
Zach Rubin has started 5 posts and replied 31 times.
Post: Personal home, barely getting showings
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Mike Kirby:
Quote from @Zach Rubin:
Quote from @Caleb Brown:
Quote from @Zach Rubin:
@Caleb BrownDOM I believe they are in the 40s. Just buy looking at previous homes around my area and street when i was watching them were between 30-45 days. This was about 3 months ago too.
We started what we and the realtor said was a good price point would be. Also 6 out of the 7 showings including open houses said the price was good.
House is prepped and staged. Post cards, aids, social media is being pushed but nothing.
I would sit tight then. I pulled stats in my area to compare single family vs townhomes on DOM. Single families in my are are averaging 35 days on market vs 59 for townhomes. Townhomes are just slower movers, not as in demand.
I see lol definitely an unfortunate time at the moment! Bit nerve racking. It’ll sell just who knows with everything going on.
Started at $315k with Reno’s. Original bought at $272k. Now down to $295k
Post: Personal home, barely getting showings
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Caleb Brown:
Quote from @Zach Rubin:
@Caleb BrownDOM I believe they are in the 40s. Just buy looking at previous homes around my area and street when i was watching them were between 30-45 days. This was about 3 months ago too.
We started what we and the realtor said was a good price point would be. Also 6 out of the 7 showings including open houses said the price was good.
House is prepped and staged. Post cards, aids, social media is being pushed but nothing.
I would sit tight then. I pulled stats in my area to compare single family vs townhomes on DOM. Single families in my are are averaging 35 days on market vs 59 for townhomes. Townhomes are just slower movers, not as in demand.
I see lol definitely an unfortunate time at the moment! Bit nerve racking. It’ll sell just who knows with everything going on.
Post: Personal home, barely getting showings
- Investor
- Cary, NC
- Posts 31
- Votes 7
@Caleb BrownDOM I believe they are in the 40s. Just buy looking at previous homes around my area and street when i was watching them were between 30-45 days. This was about 3 months ago too.
We started what we and the realtor said was a good price point would be. Also 6 out of the 7 showings including open houses said the price was good.
House is prepped and staged. Post cards, aids, social media is being pushed but nothing.
Post: Personal home, barely getting showings
- Investor
- Cary, NC
- Posts 31
- Votes 7
Hi everyone
I did a post about six months ago about selling my personal home in Cary, NC and now it’s up for sale on market.
However, in the 64 days it’s been up for sale I’ve only had seven showings and no offers. We’ve decreased the asking price multiple times and nothing.
It is a smaller townhome at just about 1200sqft but in a great location in Cary.
Anyone can tell me what’s happening? My realtor says they are not to sure what’s going on besides the economy, fear, and uncertainty.
Post: Looking to Sell Personal Home
- Investor
- Cary, NC
- Posts 31
- Votes 7
@Benjamin Carver @Avery Heilbron
So just some numbers I can throw at you guys is so:
Rate is at 6.125% 30yr
Mortgage/Escrow/Taxes, Home Warranty is around $2200/Month. HOA is $300 so $2500 Total
2bed/1.5 Bath Townhome/ usually $1600/Month rent when comparing.
I would think rates would have to be below 3% again to achieve breaking even.
I have thought about having it fully furnished and going that route to rent then again it comes down to use whatt he best route to go at this time.
Post: Looking to Sell Personal Home
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Stephanie Walker:
@Zach Rubin I can understand that. I have a great agent that works that area. I'm happy to connect you if you need a referral.
Thank you! @Stephanie Walker
Post: Looking to Sell Personal Home
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Pat Lulewicz:
If you have a good product at the right price, it will sell. Inventory for good homes is still tight. From a renting perspective, STR/MTRS in cary generally have good rental fundamentals but its of course case-by-case and property-by-property.
Looking at your property, I'd say that the zillow/redfin estimate for both ARV and rent are directionally accurate. Won't have much, if any, capital gain to shelter so don't let the 2 year market be a big driver for you in your current situation.
Thanks Pat,
I wouldn't call it a driver however its a small positive to have in a decision to move away from our current situation.
Post: Looking to Sell Personal Home
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Stephanie Walker:
Why would you want to sell and go back to renting? It sounds like maybe it was a bad buy from the start? What's the motivation here?
Cary is a very popular area, especially for relocating families so selling in the Spring/Summer lines up well for timing. I'm happy to help talk through it and see if it makes sense for you and your goals.
Cary is a very nice and popular area.
I’d would say it was a bad buy for us at the start. Which is fine you live and you learn. We want to go back to renting for a bit because owning a home at this time in our lives doesn’t make sense. We tried it and realized it doesn’t fit with what we want. I know people will debate this but our goals have changed in the last year. Owning a home is the last thing now. Renting would allow us to free up headaches and cash.
Post: Looking to Sell Personal Home
- Investor
- Cary, NC
- Posts 31
- Votes 7
Currently thinking of selling my personal residence, almost 2 years in April so I can take advantage of not having to pay any capital gains tax as well has been turning into a headache trying to renovate the house itself.
Have done a decent amount of work however not looking forward to putting anymore sweet equity or $$$ now for future renos. Home is in a pretty good location, (Next to the old Cary Town Center where Epic Games was suppose to build their new HQ) and would like to get back to renting for a bit.
How's the housing market in the Raleigh NC area? I'm located in Cary, south of Raleigh.
Wouldn't want to sit on this thing if the market itself is slowing down.
Couldn't rent it due high costs of mortgage itself and rents are two low to even break even.
Thanks in advance for any info!
Post: Extra Payment on first property or waste of time?
- Investor
- Cary, NC
- Posts 31
- Votes 7
Quote from @Troy P.:
I spent a lot of time reading "401k vs REI" on other Internet forums, and it all comes down to how much effort do you want to give. If you want a relatively low stress life, retire comfortably, and leave minimal assets to your friends and family which will be taxed at normal income rates, then by all means keep maxing out that retirement plan. Most of us on here want more...
I definitely want to build a portfolio and the 401k will not do it. Granted my company matches to a certain percentage so I'll go as high as they match but put the other $$ in other investments.