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Will the economy ever make a come back?!

FrugalSandy said:
She had already purchased a build-to-suit house in another state. Her thinking was that she would put her house up for sale here when the house in the other state was finished. Unfortunately, she got caught at both ends - she paid at the top of the market for the house out of town and the market turned soft just as she put the house here on the market. Her RE agent was NOT shady and her asking price was NOT unrealistic. I agree that everyone has a choice but everyone's circumstances are different. She was very reluctant to sell her house at the price she did but how long can someone support 2 houses? And how long does someone want to go back and forth? Personally, the way that she did it would not have been the way DH and I would have done it, but that's irrelevant. I would have sold the house here and then bought in the other state. Because the financing restrictions got so tight so quickly, many people who otherwise would have qualified for a mortage, did not, so that some (or many) people were excluded from purchasing a house altogether.
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it sounds like your neighbor got caught in a really crappy situation at the exact wrong time and I feel bad for people like her who got caught in a bind.

real estate is all about price -- no one wants to pay too much for a house, so the buyers that are out there are shopping around to get the best deal. I would too. I just heard that a potential buyer for our house who saw it for a second time last night, is considering this one AND three other houses. That's a far cry from when we bought it: we saw it the day it was listed and put in an offer hours later. Ours wasn't even the highest among multiple offers that day, but it was accepted because of other factors. Anyway, my point is things have changed a lot and we all have to adjust. Since there's more inventory because of unemployment, tighter underwriting and everything else, sellers have had to adjust their prices and expectations.

we are under contract on another house, but it's contingent on the sale of this house. There is no way we could afford both. And if we can't sell this house for a certain amount, we can't buy the new one. It will make me sad, but those are the breaks.
 
icoupon2 said:
:huggy: I just know it is going to sell! Positive thoughts for you!!
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thanks babe :huggy: I hope we can sell too, but if we don't, we will be ok. there are positives here: this house is within walking distance to Walgreens, and being a small house, it doesn't take long to clean from top to bottom. At least that is what I can tell myself when I'm crying in my I-couldn't-sell-my-house beer.

At least we have a choice; a lot of people don't. They have to sell because of illness or unemployment or relocation or they've outgrown their houses.
 
KG said:
thanks babe :huggy: I hope we can sell too, but if we don't, we will be ok. there are positives here: this house is within walking distance to Walgreens, and being a small house, it doesn't take long to clean from top to bottom. At least that is what I can tell myself when I'm crying in my I-couldn't-sell-my-house beer.

At least we have a choice; a lot of people don't. They have to sell because of illness or unemployment or relocation or they've outgrown their houses.
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After seeing your house KG, it is a PALACE compared to mine! I'm sure you'll get an offer...it's very nice!
 
The first house that we put in an offer, we offer $115k for a listing of $145k, the seller (actually seller's son, because the owners had Alzheimer in nursing home) felt insulted with our perceived low ball offer and refused to even go down another $1k. We walked away. They didn't sell the house for another 10 months, for exactly the same price we offered !! Also, they had to pay another $4k in property tax for waiting 10 months.
 
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