Thread: Anybody else trying to sell a house?

Tweet

Everybody knows the market is bad in places, and it is certainly soft in X town. We were optimistic based on neighbor's assessments and feedback that our house would sell quickly.

Granted, it has only been 3 months, but last weekend we got an offer for $32,500 less than asking price. Plus, they wanted $6,000 closing costs and us to pay for a $375 warranty they wanted, even though the house has a warranty already. AND, they wanted 2 months to close.

We countered, they countered, but they maintained the ridiculousness, even asking for $5,000 in carpet allowance. (3 year old house, no pets, mostly hardwood and tile).

WTF? That's less than what we PAID for the house, or for what any house in the neighborhood sold for. I hope that nobody here is having to take ridiculous offers like that.

At least you got an "offer". rediculous as it is. We've been on the market for 3 months now without a single offer. What's killin us is all the distress sales bringing down the comps. No doubt the case there too. The market is just plain in the toilet everywhere. Fortunately we've had this house for 20 years but 2 years ago it was worth twice what it is today, so I'm not going to "give" it away. We decided to let the listing expire (5 days from now) and rent it out for a year or two until the market recovers. We've already contracted with a property management company and have tenants lined up. I believe the market has bottomed. Once all the repos and short sales have gone to investors and speculators, we'll start gaining value again. Maybe now lenders will be a little more cautious and not let this happen again. Hang tough Wilbret, if they really want your house, they'll come to your terms.

We have people that want to rent it, problem is it won't completely cover the mortgage.... AND the builder here has graciously been building new homes in our hood at $20k off the previous average. Hence, not only do the old home comps hurt people, new homes are going for cheaper prices!

I just want to unload it and consider 3 years of payments as rent, and anything we net a bonus.

I hear ya, the only thing saving us is that we paid this house off 10 years ago. But I still ain't gonna give it away. New construction around here has all but stopped. There were several very large developments that started nearby a couple of years ago. They got the utilities and streets done and a few foundations, then they just stopped. Hopefully it won't take more than a few years to get out of the hole the market is in.