Selling Home, Waiting For Response

[Annie]

Last evening got a 'bid.' House listed at $179,900. Bid $165k. 10/23 closing, $400 towards home warranty. Mind you, my listing was $6k below next and $3k lower than last sold.

My reply, $175,900. 9/30 closing, $175,900. Would give appliances and warranty.

Reply this morning: $168k, no give on closing.

My reply: $175,900, no warranty and final offer.

Waiting. Yes, I'll walk away from.

Stress? Off charts.

 

[Big Black Dog]

It's pretty tough to sell a house these days in the area that I live in. It's truly a buyers market here. Wonder if it's the same in your neck of the woods? If there's no real reason to rush with the sale of your house, wait it out until you get your desired price. However, if there is a need to move on quickly you might have to make some concessions. Ever think of just simply renting it out? Could that be a good option? Is the sale of this house necessary before you can buy your next? Understand the stress. My daughter is trying to sell her house in the Raleigh, NC area and not having a great deal of luck. Best wishes. Hope it works out well for ya!

 

[strollingbones]

is the buyer a couple or family or an invetor? or flipper? you are taking a risk...refusing any offer but i would hold out for the deal i needed...not the deal i wanted.

 

[strollingbones]

well any news....good luck

 

[Annie]

It sold! Done deal! Less than 2 weeks on market, but did take up most of my summer getting it ready. Closing will be 10/23.

 

[Annie]

It's pretty tough to sell a house these days in the area that I live in. It's truly a buyers market here. Wonder if it's the same in your neck of the woods? If there's no real reason to rush with the sale of your house, wait it out until you get your desired price. However, if there is a need to move on quickly you might have to make some concessions. Ever think of just simply renting it out? Could that be a good option? Is the sale of this house necessary before you can buy your next? Understand the stress. My daughter is trying to sell her house in the Raleigh, NC area and not having a great deal of luck. Best wishes. Hope it works out well for ya!

Granted it's not the best time to sell, but really didn't want the stress and being tied down to this area. My plan was to get my kids through school, last one graduated university in May, so that part is done. So I'll finish out this year of teaching and apply for positions out of IL. Not having to worry about heating/ac system, appliances, etc. Not too mention all this 'stuff!'

 

[strollingbones]

so where ya moving? mtns of nc ...is a nice place...no jobs but a nice place

 

[strollingbones]

o congrads you must have done your homework to sell that fast

 

[Annie]

so where ya moving? mtns of nc ...is a nice place...no jobs but a nice place

I'm thinking of IN, close enough to 'home' with better cost of living. I would consider further south, but jobs seem a bit of a problem.

 

[strollingbones]

jobs are a problem...never changes in the south

 

[Annie]

jobs are a problem...never changes in the south

That is one good thing about teaching, there's nearly always a place with shortages. Not around here though.

 

[Care4all]

Take the offer.... we went through the same thing annie...

This IS NOT a market to fool around with....

Be very grateful to God that you have even gotten this offer....if you have a lot of equity in it sign that dotted line as quickly as possible and be happy you are blessed enough to not selling in the red...


Our hosue was listed at $369...first couple with a contingency that they had to sell their home, offer was $350, we settled on $362, gave them 6 weeks to sell their home or deal was off....

Well, deal was off...they could not sell their home, another 2 months passed and we had alot of interest and finally got another offer...this time it was $335, we were insulted...hurt, knew it was worth so much more....depressed...

we got the bid back up to $343k, we take our appliances (which were new) with us, and our Realtor settled on taking 3.5% commission instead of the 5%.... signed the dotted line.

we were still feeling as though ripped off....the house just like ours 6 months earlier, ONLY WITHOUT hardwood floors throughout the entire house and a third of an acre to our half an acre, sold for 30k more than ours.....

Then, the prayer worked...we both woke up the next morning and heard our answer in our heads..."BE GRATEFUL for what you got for your home and you were even able to sell at all....don't be greedy, you made a good profit as is...."

Care

 

[Care4all]

CONGRATULATIONS ANNIE!

WISE decision!

 

[Annie]

Take the offer.... we went through the same thing annie...

This IS NOT a market to fool around with....

Be very grateful to God that you have even gotten this offer....if you have a lot of equity in it sign that dotted line as quickly as possible and be happy you are blessed enough to not selling in the red...


Our hosue was listed at $369...first couple with a contingency that they had to sell their home, offer was $350, we settled on $362, gave them 6 weeks to sell their home or deal was off....

Well, deal was off...they could not sell their home, another 2 months passed and we had alot of interest and finally got another offer...this time it was $335, we were insulted...hurt, knew it was worth so much more....depressed...

we got the bid back up to $343k, we take our appliances (which were new) with us, and our Realtor settled on taking 3.5% commission instead of the 5%.... signed the dotted line.

we were still feeling as though ripped off....the house just like ours 6 months earlier, ONLY WITHOUT hardwood floors throughout the entire house and a third of an acre to our half an acre, sold for 30k more than ours.....

Then, the prayer worked...we both woke up the next morning and heard our answer in our heads..."BE GRATEFUL for what you got for your home and you were even able to sell at all....don't be greedy, you made a good profit as is...."

Care

I took the offer, when they came up to my bottom line. The house was priced to sell, in the 11 days the house was 'listed' we had 28 showings. Anyone want a realtor's card? 3 years ago some of the townhomes in this subdivision were selling in mid to upper 200's, but we all knew those were crazy prices, (I bought it for $130 in '95). I've done ok, not a 'killing', but not a loss either.

While IL has been 'hit' with unemployment, not so hard where I live-Western suburbs of Chicago. I've not seen any foreclosure signs around here or the burbs I drive through. Real estate is selling, prices down but as I said, not 'catastrophic' like too many areas. People are buying, they want bargains, but no one is 'giving them away.'

 

[editec]

Congrats on the sale, Annie.

Nicely done given this market

 

[Care4all]

massachusetts had a BIG BOOM, we bought the house in 1998 for $165k, we spent about 15k on it, painting inside and outside, new appliances, and 8k of it in landscaping and reasphalting the driveway....

We made a killing...yet, because our one neighbor made 30k more than us on same type home with less features and benefits than ours, our initial feelings were that we got ripped off and were not getting enough for the home....

BOY were we wrong to think that way and very greedy and selfish. We smacked eachother upside of the head and then things were ok and we felt BLESSED, which we were blessed.

ZILLOW.com says the home is valued at $287k now, the new owners must be feeling bad....

 

[Annie]

massachusetts had a BIG BOOM, we bought the house in 1998 for $165k, we spent about 15k on it, painting inside and outside, new appliances, and 8k of it in landscaping and reasphalting the driveway....

We made a killing...yet, because our one neighbor made 30k more than us on same type home with less features and benefits than ours, our initial feelings were that we got ripped off and were not getting enough for the home....

BOY were we wrong to think that way and very greedy and selfish. We smacked eachother upside of the head and then things were ok and we felt BLESSED, which we were blessed.

ZILLOW.com says the home is valued at $287k now, the new owners must be feeling bad....

That's what I keep thinking. Sure a few years ago would have gotten substantially more, but we did know those prices were whacked. At the time I just wasn't in the position to sell, kids were home or at least in school and my dad was still living with me.

I feel sorry for those that bought houses in past 3-5 years, THEY will take a beating, as I don't think those types of prices will be back anytime soon. A $45k increase in just under 14 years isn't bad, not too mentioning a place to raise the kids and care for my folks. For the most part, that is typical of our area regarding home prices, the rest was just 'crazy prices.' On the other hand, there wasn't the increase or decrease seen in 'booming' areas, it's pretty stable around here.

 

[Care4all]

massachusetts had a BIG BOOM, we bought the house in 1998 for $165k, we spent about 15k on it, painting inside and outside, new appliances, and 8k of it in landscaping and reasphalting the driveway....

We made a killing...yet, because our one neighbor made 30k more than us on same type home with less features and benefits than ours, our initial feelings were that we got ripped off and were not getting enough for the home....

BOY were we wrong to think that way and very greedy and selfish. We smacked eachother upside of the head and then things were ok and we felt BLESSED, which we were blessed.

ZILLOW.com says the home is valued at $287k now, the new owners must be feeling bad....

That's what I keep thinking. Sure a few years ago would have gotten substantially more, but we did know those prices were whacked. At the time I just wasn't in the position to sell, kids were home or at least in school and my dad was still living with me.

I feel sorry for those that bought houses in past 3-5 years, THEY will take a beating, as I don't think those types of prices will be back anytime soon. A $45k increase in just under 14 years isn't bad, not too mentioning a place to raise the kids and care for my folks. For the most part, that is typical of our area regarding home prices, the rest was just 'crazy prices.' On the other hand, there wasn't the increase or decrease seen in 'booming' areas, it's pretty stable around here.

Well, we are getting our due now...this smaller house in maine was $156k, it is probably only worth 130k now, which is pretty depressing....we ended up using our profit on other home to buy this one outright, so we are not in the red with a mortgage....BUT WE COULD HAVE BEEN.....if we had taken out one for this.... we still are hurting cuz of the losses on this new home, bought at the end of 2006....during peak....but STILL are blessed, even with the drop in value on this one....

Care

 

[Annie]

massachusetts had a BIG BOOM, we bought the house in 1998 for $165k, we spent about 15k on it, painting inside and outside, new appliances, and 8k of it in landscaping and reasphalting the driveway....

We made a killing...yet, because our one neighbor made 30k more than us on same type home with less features and benefits than ours, our initial feelings were that we got ripped off and were not getting enough for the home....

BOY were we wrong to think that way and very greedy and selfish. We smacked eachother upside of the head and then things were ok and we felt BLESSED, which we were blessed.

ZILLOW.com says the home is valued at $287k now, the new owners must be feeling bad....

That's what I keep thinking. Sure a few years ago would have gotten substantially more, but we did know those prices were whacked. At the time I just wasn't in the position to sell, kids were home or at least in school and my dad was still living with me.

I feel sorry for those that bought houses in past 3-5 years, THEY will take a beating, as I don't think those types of prices will be back anytime soon. A $45k increase in just under 14 years isn't bad, not too mentioning a place to raise the kids and care for my folks. For the most part, that is typical of our area regarding home prices, the rest was just 'crazy prices.' On the other hand, there wasn't the increase or decrease seen in 'booming' areas, it's pretty stable around here.

Well, we are getting our due now...this smaller house in maine was $156k, it is probably only worth 130k now, which is pretty depressing....we ended up using our profit on other home to buy this one outright, so we are not in the red with a mortgage....BUT WE COULD HAVE BEEN.....if we had taken out one for this.... we still are hurting cuz of the losses on this new home, bought at the end of 2006....during peak....but STILL are blessed, even with the drop in value on this one....

Care

I guess we need to remember what a home is, whether grand or small, it's a place to live and be with family and friends. If the plan for your new home is to stay there, odds are when ready to sell, you'll make even or better, that's not a huge drop considering when you bought. Sounds like the area I live in 'value wise'-not the big rise or fall that hit so many areas.

Besides, I've seen your pictures and the beauty is worth the price!

 

[Mr.Fitnah]

It sold! Done deal! Less than 2 weeks on market, but did take up most of my summer getting it ready. Closing will be 10/23.

Cheers good for you.