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Viewing 11 posts - 1 through 11 (of 11 total)
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  • #76661
    Donderella
    Participant

    Happy Friday, y’all! I am trying to stay positive but this home search is a beast and I need to pause my complaint fast and vent. And I thought the qualification was the hard part, especially since I’m a licensed agent. Is it just me or are all NACA clients having an especially tough time right now?

    I imagine in this market – I’m in Atlanta – a seller with (or even just expecting) multiple offers (so like all of them) are going to go with what seems quickest and easiest, and NACA doesn’t exactly have a reputation for being either. I am starting to get discouraged and that takes a lot. I know what’s for me is for me and yada yada but sheesh. After my 1st deal fell through due to the inspection, I’ve had my last 7 or 8 rejected (or rather expire with no response) despite offering over listing and great terms (0-day DD, 30-day close).

    Can someone who’s successfully closed (or at least had an offer accepted) in a “hot” market *eye roll* please offer some advice? I’m so tired of waking up feeling beat down and looking at these terrible houses for high prices fly off the market left and right.

    #76663
    Queen Meeks
    Participant

    You have to keep putting in offers. This is just how this program works. You will find thousands upon thousands of comments expressing this same concern. Have a backup plan please don’t depend solely on NACA. If NACA is your only option the only thing you can do is keep putting in offers.

    #76665
    Donderella
    Participant

    Yikes. Okay, I appreciate it. Not sure how much more I can take.

    #76668
    netnuevo
    Participant

    One thing with NACA that I find really neat is that you can put down an a huge earnest money deposit and then use that money to buy down your rate… hope that helps with your offers.

    #76669
    Donderella
    Participant

    Thanks @netneuvo! Great advice. I’d been putting my extra into going over list and committing to pay out of pocket in the event it doesn’t appraise. But that’s a good tactic! Maybe I’ll try a little of both.

    #76696
    akinayo
    Participant

    Oh wow. I was living in Atlanta just over a year ago. Has the market gotten THAT hot there too?
    I’m in Sacramento area of Cali now and everything we heard/read about the purchase process from a friend made us go with a new build. Other than the fact that you have to wait for the house to actually get built before you can close, that may be an option. Again though, I’m no longer in Atlanta so I don’t know what new builds are selling for.

    #76697
    Donderella
    Participant

    Yes, I’m sure it doesn’t touch Cali or NY but it’s crazy, especially for us natives. But yes, my Agent suggested the same thing if our luck doesn’t turn around soon. I’m open to far more than I was at the start of my search but, unfortunately the new builds here in my price range are either way too far from work (and civilization) or somewhere with ridiculous property tax rates. I’m back to feeling positive though and super hopeful. Fingers crossed and prayers up on an offer that went out today!

    #76718
    TTrumble
    Member

    Hello Donderella,

    Unfortunately, your situation seems to describe most of the real estate market in general right now. Offers going outrageously over asking price, investors and corporate landlords sucking up what little inventory is out there with cash offers and home prices climbing way over their actual value are the norm for the time being. (Can anyone say “bubble”?) There are some signs that the bubble is starting to “leak” but if that’s true, the question is how much and how fast?

    The bottom line is that the mantra of “patience and persistence” applies here too. Stick with it and you’ll find the home you’re looking for. Please keep us updated on your progress.

    Tim Trumble
    Online Operations, NACA

    #76720
    Donderella
    Participant

    Your assessment is completely accurate. I really think investors should have a waiting period for listings but what do I know? Being alerted to every new listing and status change, I have started to notice more new listings and fewer pending contracts over the past couple of weeks. The best part, though… my offer was accepted yesterday on a home I LOVE! 🙂

    #76757
    TTrumble
    Member

    Hello Donderella,

    That’s fantastic! I am very excited for you! Keep up that determination now more than ever! You are very close to the finish line!

    Tim Trumble
    Online Operations, NACA

    #76759
    Donderella
    Participant

    Thank you! Can’t wait to share my testimony.

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