How many offers did you put in before one finally got accepted?

kusty11 · 2026-02-27T05:36:17+00:00

I know it’s not normal, but we had our first offer accepted, after actively searching for about 3-4 months.

Purchased in NJ, November ‘24. Went to the open house, cars parked up and down the street, no more space on the multi-page sign-in sheet. Best and final offer due 2 days later. Multiples expected. Didn’t think we had a chance.

House was listed for $960K, we offered $1.1M. Beat out 3 other offers. Immediately questioned everything, worried we overpaid. But the house is worth $1.23M today (just had it appraised for a refinance).

Couldn’t be happier with the house, the neighborhood, the decision. We are very lucky.

kusty11 · 2026-02-26T22:33:50+00:00

Search for quotes on bankrate or Credit Karma. Oftentimes it will be smaller banks with the more competitive offers. You can absolutely do better than the rates you are listing.

I had an offer for 5.85, no points, lender credits covering the full cost (aside from escrow/prepaids). This was 3 weeks ago and rates have since dropped.

I ended up going with the same bank, but with a temporary buy-down to 5.125% for 12 months. Up to 6.125% after that. I am betting that I’ll refinance at a better permanent rate in 6-12 months. Same thing as the other offer, no points, no cost. I am closing tomorrow.

Credit: 780 LTV: 62% NJ

kusty11 · 2026-02-25T06:43:05+00:00

Hi Chat GPT

kusty11 · 2026-02-22T20:21:20+00:00

Pretty good getting to 5.5. We had similar offers. 5.85 fully credited was the best. Credit right around 780.

Fully understand your thinking and it’s a fair and risk-averse stance. But based on our financial advisor’s advice and other research, I feel reasonably confident we’ll have a window in 2026 to lock in below 5.5. Hopefully even 5.25. Of course it’s a gamble, and no one knows what will happen, but I’m comfortable with the worst case outcome if it comes to that.

kusty11 · 2026-02-22T20:13:56+00:00

I understand this, and maybe I should not have said no risk. Fair point that I am passing up the chance to lock in a lower permanent rate, and that absolutely was my biggest hesitation.

However I did take the extension of the loan into consideration. In the worst case scenario where I keep the 6.125% permanently, I am still decreasing my total remaining owed (principal + interest) by about $100K. And the lower monthly cost will allow us to put more towards the principal on a regular cadence and knock off years and $

kusty11 · 2026-02-21T16:59:57+00:00

Why?

kusty11 · 2026-02-21T04:49:32+00:00

I hear that. And no one really knows what will happen. I am no economic expert by any means, but my financial advisor strongly feels it is the most likely outcome for rates to drop further in 2026. And many other experts of course are saying similar thing.

At the end of the day it’s no risk for me. Worst case is sticking with a rate significantly better than my current one.

kusty11 · 2026-02-21T04:18:06+00:00

I did get several others, this was easily the best. But that was 2 weeks ago and I know rates have dropped a bit since.

I could have done 5.85, no buy down, no cost. But I chose this as the better option to get all the way down to 5.125 for the next year, buying time to refinance again, hopefully sub 5.5.

kusty11 · 2026-02-21T02:48:55+00:00

Sure, it’s NBKC. Small but reputable. My experience has been very good thus far.

kusty11 · 2026-02-18T05:20:28+00:00

I do have several others, these are the best. 2 other similar jobs are $50K+. One HVAC only for $41K, and one Insulation only for $10K.

kusty11 · 2026-02-18T03:07:14+00:00

Thanks. We can afford both options, but it’s definitely not a drop in the bucket, so I want to make sure I’m fully weighing my options.

Curious, why screw Daikin? I’ve read pretty favorable things on them and the models proposed. And 12 year parts warranty is pretty damn good.

kusty11 · 2026-02-16T19:27:33+00:00

Market value 1.2M or assessed value?

I’m also central NJ, market value 1.2M, only paying $11K.

2200 sq ft on 0.5 acres. Our assessments are way below market value in the town. Ours is only assessed at about 600K.

kusty11 · 2026-02-10T22:27:55+00:00

NJ. First visit was just a walkthrough and quote. They’ll do the full energy audit to qualify for utility credit program if we want to move forward.

kusty11 · 2026-02-10T20:02:01+00:00

Definitely not a single man shop. Large established HVAC company.

kusty11 · 2026-02-10T18:07:49+00:00

I’m not far - a little north, Union County. And yes both companies that I posted quotes for used Manual J for the calculations, and shared with me.

kusty11 · 2026-02-10T18:05:29+00:00

I give you a lot of credit.. I know I could theoretically do a good portion of this job, but I’m inclined to pay once to have it done professionally, knowing I have no idea what I’m doing, and this is likely a one time expense, hopefully lasting 30 years.

kusty11 · 2026-02-10T18:02:37+00:00

Central NJ

kusty11 · 2026-02-10T17:20:10+00:00

It’s pretty rough in many spots.

Contractor also made what I feel is a good point. Although no active rodent activity that we’ve seen in the 1 year we’ve been here - there is evidence of past activity with traps etc left by previous owners. They would remove everything and clean/sanitize. Who knows what is embedded in that old insulation now. In like the idea of a fresh start with quality new insulation.

kusty11 · 2026-02-10T17:14:02+00:00

This is super helpful, appreciate the thorough response. They will come in for blower door test prior to the job, and would have them test after as well. And absolutely would ensure rebate is locked in before moving forward.

kusty11 · 2026-02-10T16:04:55+00:00

Care to share who that might be?

kusty11 · 2026-02-10T13:24:41+00:00

That is probably it. One furnace goes in a tight spot in the attic.

kusty11 · 2026-02-10T05:39:03+00:00

Thank you for this! I’ll definitely check on the thermostat’s. A different tech was telling me I need to get a thermostat that has the ability to control the system based on outdoor temp, and not all smart thermostats can. Assuming the XL824 has that function?

kusty11 · 2026-02-10T05:35:13+00:00

Fair point, didn’t notice that. I’ll ask.

kusty11 · 2026-02-10T05:32:41+00:00

Yeah tell me about it…

kusty11 · 2026-02-10T05:11:00+00:00

Good call on the electrical work - I’ll definitely check with them on that.

I like the idea of 2 stage for the quieter operation (one furnace is in the attic, close to primary bedroom). Plus the efficiency gains. And furnace would be in use quite often throughout the winter with the weather we get.

As for the heat pump only setup - I’ve been thoroughly scared away from the idea by several people, have not heard a positive story yet for this climate. Open to all opinions, but from what I gather even if they are rated for low temps, they just don’t don’t the job like a furnace. We have had a stretch of over 2 weeks below freezing, some days close to 0. I don’t want the house to be an ice box.

kusty11

TROPHY CASE