Is there a thread for people selling their house?

[Mickeyluver37]

Did anyone on the thread get any traffic this weekend? Just giving us a bumpity bump!!

We're in MD, too. I think we're better off than in many other counties in the State, but the housing market still sucks obviously! We're not to far off from 60 DOM, when we plan on lowering our price.

 

[maddiemom]

Did anyone on the thread get any traffic this weekend? Just giving us a bumpity bump!!

We're in MD, too. I think we're better off than in many other counties in the State, but the housing market still sucks obviously! We're not to far off from 60 DOM, when we plan on lowering our price.

Nothing for us this weekend. Last weekend we had our first showing since we had an offer that fell through. All the sudden our showings have really dropped off. The feedback on the last one said our house was on the "keeper" list but they are still looking. I guess that is better than nothing.

 

[MomNeedsVacay]

We are putting our house on the market in the Spring. Until then, we have two mortgages, because we are adding onto the new house b/f we move in!! YIKES! I live in Alexandria, VA- right outside of DC. THere is a definite slump here, but it will never get terribly low b/c there will always be the gov't here - so there will always be plenty of people with jobs here. You can find great bargains though now... in this area a 3-4 bedroom fixer-upper starts around 700K. YES. thats a bargain.

 

[Mellie2162]

Nothing again this week for us. Its ok though as the kids have really let the house go this week, so im going to get it back in shape while they are out fishing with dad today. Better luck to all of us next week. It will happen eventually, and it only takes 1.

 

[EdiePA]

Got a contract signed this week. The buyers are already telling people that they bought it and how they want to use the rooms, so I'm hoping for a done deal. (They did back-out earlier this summer -- but that contract had a contingency. They've been able to sell their house and they're buying my house "as is".)

What worked -- dropping the price another $10,000. Also, I gave the realtors an incentive, an extra $2,000 if the home closed on or before October 15th. Really brought a lot more traffic in.

So, after 20 months, I may be down to just one mortgage!

Best wishes to everyone else who is struggling down this road,
Edie

 

[Mickeyluver37]

Well, we are getting an offer tomorrow, but we already have the basics. They are offering 29K less than asking, PLUS 5K in closing, so 34K short. We will obviously counter, but DH and I need to decide how low we can ultimately go. I don't want to give the house away, but we already moved, and the house is staged with all of our beds, etc. We're just tired of living out of boxes with no furniture, and I'd like my kids to have their real beds before school starts. We're also emotionally exhausted with the whole thing. Sigh..what to do...what to do.

 

[maddiemom]

Got a contract signed this week. The buyers are already telling people that they bought it and how they want to use the rooms, so I'm hoping for a done deal. (They did back-out earlier this summer -- but that contract had a contingency. They've been able to sell their house and they're buying my house "as is".)

What worked -- dropping the price another $10,000. Also, I gave the realtors an incentive, an extra $2,000 if the home closed on or before October 15th. Really brought a lot more traffic in.

So, after 20 months, I may be down to just one mortgage!

Best wishes to everyone else who is struggling down this road,
Edie

Congrats on the contract. I hope you can get to closing w/your buyers this time around!

 

[maddiemom]

Well, we are getting an offer tomorrow, but we already have the basics. They are offering 29K less than asking, PLUS 5K in closing, so 34K short. We will obviously counter, but DH and I need to decide how low we can ultimately go. I don't want to give the house away, but we already moved, and the house is staged with all of our beds, etc. We're just tired of living out of boxes with no furniture, and I'd like my kids to have their real beds before school starts. We're also emotionally exhausted with the whole thing. Sigh..what to do...what to do.

Good luck with your counter. That process is the hardest part besides waiting for someone to make an offer. I am not good with negotiation myself!

 

[barkley]

Good luck with your counter. That process is the hardest part besides waiting for someone to make an offer. I am not good with negotiation myself!

i would think one of the aspects in today's marketplace is if the potential buyer is already prequalified and preapproved for a loan and what kind of contingencies they are asking for. when we sold (seller's market) it was an absolute given that an offer had to be made with verification provided at the time of offer as to the seller's prequalifications (and it was extreemly rare that anyone would even look at an offer with anything other than an inspection contingency), now i hear terrible stories about painful negotiations that drag out to an agreement only to have the buyer's not qualify or unable to sell their home

we sold some property recently and i thought the person who wanted to buy it was incredibly smart to include with their somewhat lower offer a statement (and proof) that they already had the money lined up, were asking for no contingencies and that in accepting we were in no danger of having the deal fall through. we ended up going for it because we figured that the reduced amount was offset by the expenses we would have incurred continuing to own (and priceless so far as the emotional rollercoaster of having property up for sale).

 

[The Mystery Machine]

Well, we are getting an offer tomorrow, but we already have the basics. They are offering 29K less than asking, PLUS 5K in closing, so 34K short. We will obviously counter, but DH and I need to decide how low we can ultimately go. I don't want to give the house away, but we already moved, and the house is staged with all of our beds, etc. We're just tired of living out of boxes with no furniture, and I'd like my kids to have their real beds before school starts. We're also emotionally exhausted with the whole thing. Sigh..what to do...what to do.

That is tough. It will be 7 months before the market is moving again....maybe.
At least I hope. We can't find a house because no one is moving. It is freaking nuts.

Our last house we sold we had a GREAT negotiator. It was all he did for the reality company we were with.

Here are some prayers to you for some strength.

 

[connorlevismom]

My house has now been on the market for over a month and has had ZERO showings. This is after a $2500 incentive to agents and a $45,000 price drop. I am starting to think that we should just stay here and wait it out. I am sick of trying to keep the house clean for no reason.

Kristine

 

[maddiemom]

We had a showing last night. I pulled out all the stops and even baked cookies (well just the kind you break off and bake!) Keeping everything crossed that I get an early birthday present within the next couple of days.

 

[klmall]

Good luck maddiemom!

We had no showings the two weeks I was in Colorado and so began to talk about taking our house off the market when we suddenly had 3 showings in 2 days (2 on our wedding anniversary).

Our agent says houses are selling because sellers and buyers are agreeing on prices. Well, that agreement means lowering sales prices dramatically. Currently we are listed at 639,000 and our agent says that to sell we would have to go down to 580,000. DH won't even discuss this since our house was valued at 700,000 less than a year ago and we need 639,000 to build our new house in PA. So a total of about 20 showings in four months and not even one offer!

And now foreclosures are starting to creep up into our bracket!

 

[maddiemom]

The cookies may have helped with the showing last night. More details if something positive emerges. I don't want to jinx it at this time!!

 

[Meriweather]

Still nothing here.
We have prepared outselves to sit here and wait it out
Our new house in AZ will be ready the end of Oct. I hate not being able to move into it and be closer to the rest of the family, but what can you do??

It will eventually get better.....I hope

Continued good luck to everyone.

 

[Mickeyluver37]

The cookies may have helped with the showing last night. More details if something positive emerges. I don't want to jinx it at this time!!

OH, how exciting!!!

We still don't even have our actual offer "presented" to us yet. Have I mentioned that I'm NEVER EVER EVER EVER moving again after this?

 

[FergieTCat]

I am having some work done on my apartment (including replacing the kitchen cabinets and appliances) and will have it on the market by the end of October. I am already stressed -- it started when I wrote out a VERY LARGE check to the contractor.

Then I want to buy a new apartment and move. Keeping my fingers crossed that this will happen by January, at the latest.

I am prepared to go below prices listed for similar apartments in the neighborhood, but am hoping I don't have to accept more than $20K below that price.

 

[connorlevismom]

I am having some work done on my apartment (including replacing the kitchen cabinets and appliances) and will have it on the market by the end of October. I am already stressed -- it started when I wrote out a VERY LARGE check to the contractor.

Then I want to buy a new apartment and move. Keeping my fingers crossed that this will happen by January, at the latest.

I am prepared to go below prices listed for similar apartments in the neighborhood, but am hoping I don't have to accept more than $20K below that price.

This market really stinks. We bought our house in 2003, put about $90,000-$100,000 into it and will be lucky to get what we paid for the house. We can kiss that $100,000 good-bye.

Kristine

 

[FergieTCat]

This market really stinks. We bought our house in 2003, put about $90,000-$100,000 into it and will be lucky to get what we paid for the house. We can kiss that $100,000 good-bye.

Kristine

I bought my apartment 16 years ago, and it was so cheap then that whatever money I make will be a profit. I just want enough equity to be able to purchase a new apartment.

I think it's a little different in New York City/Queens. What was $40K when I bought is now $200K.

 

[Mellie2162]

Still sitting pretty here with nothing happening. Oh well. We will just wait it out on the market. Im tired of getting after the kids to keep it cleaned up.