Where do I even start....
- Loan Origination Date: 5/20/2016
- Purchased for 374,000
- Zillow estimate when purchased: 369,000
- Zillow estimate today: 475,000
- Unexpected soft offer: 500,000
Why?
The area we live in is GROWING, and has been for some time. Not sure how much more our house value will increase before this bubble pops..
We live in a very nice suburban neighborhood and have the only houseplan in our neighborhood over 3k sq ft. with 5br and 2.5ba. Wife was talking to a neighbor whose brother's family is wanting to move into our neighborhood this summer and specifically wants a large house like ours. Wife somewhat jokingly said "maybe we'll sell for 500!" and then.. they kept talking and they are serious. They want to look at it this weekend (as we've explained, it is not in "presentation" status since we weren't thinking about it (we're not going to go crazy cleaning it right now, we live here), and it'd be a "make me move" type offer situation.)
Why not?
We were not planning on selling any time soon. We like it here. This was unexpected. But... that $100k+ would pay off ALL of our other debts (student loans, personal loans, cars, credit cards) and then we could just.. get another house? We could move a little further from the city and buy more house for less money.
This just came as a shock to hear, so I'm looking for some advice. Thanks in advance.
edit: (copied from a comment below)
Also, our friend is a real estate agent and would help us for free, and the potential buyer is a commercial agent so they don't want to deal with agents, saving the cost of agents entirely.. 30k saved if 3% per agent selling at 500k... We're looking at 150k profit..
Submitted March 26, 2019 at 06:32PM by cd83 https://ift.tt/2FuSZlv
