It was on the market for a while and it was a short sale. The previous owners had to shell out $20K out of pocket. They also hadn't lived in the house in a long time.
We got lucky on the aspect that our neighbors are awesome.
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| House Woes http://warthogterritory.net/forum/viewtopic.php?f=19&t=13943 |
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| Author: | Racegal8 [ 12 Jun 2012, 23:10 ] |
| Post subject: | House Woes |
So after 2 years of looking we finally found a home that we both loved. Spent 2 hours filling out paperwork on Sunday to put in our offer just to get S#%@ on... We offered $240,000 with a $5000 sellers assist for a house that they asked $259,000 for (overpriced by a good amount for the neighborhood) and we didn't even get a counter-offer just a \"no thanks\". Its only been on the market for 10 days, so i guess that plays a factor in to it The sad part is that this is the house of my dreams, i really love it.... i think it was the house i was meant to have, but dont want to offer more money to appease their Bit#$ of a real estate agent. Now i'm all sad so i had to vent..... thanks for listening. |
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| Author: | TinyGiant [ 13 Jun 2012, 18:28 ] |
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Most sellers believe their house is worth more than it actually is. I'm in the middle of a deal where the seller believes they're getting robbed when they're actually clearing $12k+ (after all realtor fees) after owning the property for less than a year. Even with that profit, they're acting like every little request (i.e. fix the leaky faucet) is a personal affront. There will be another house. If not, build it! |
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| Author: | Ice Pirate [ 14 Jun 2012, 06:01 ] |
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Give it a month, and then go back to them with a smaller offer. It really depends on how motivated they are to sell. If they want out in a hurry, you can usually talk them down, but by the sounds of things, their agent is trying to keep the price as high as possible to increase their own profit. Give it some time, but keep an eye on it. |
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| Author: | Racegal8 [ 14 Jun 2012, 16:24 ] |
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Thats what i'm doing, it seems like she was insulted by my offer.... Was $235,000 of a $259,000 house that terrible? I looked he up online and she is a tough one from what i read, she told us to \"look at the comparables to see why it is priced like that\" The closest she compares to is 5 miles away.... I thought this was meant to be, i sware this world is not too fond of letting me be happy. |
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| Author: | Weasel_80-204 [ 14 Jun 2012, 16:41 ] |
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Racegal8 wrote: Thats what i'm doing, it seems like she was insulted by my offer.... Was $235,000 of a $259,000 house that terrible?
I looked he up online and she is a tough one from what i read, she told us to "look at the comparables to see why it is priced like that" The closest she compares to is 5 miles away.... I thought this was meant to be, i sware this world is not too fond of letting me be happy. That doesn't sound like a low ball offer. We just bought a house in January. We put our offer in August 2010, $220K on a listing of $249,900K. Closed on the house for $225K with no closing costs on my end (Woot VA loan!). |
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| Author: | Racegal8 [ 14 Jun 2012, 17:45 ] |
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Wow you got very lucky. I'm just very discouraged by all this. My only thoughts are to let this agent sit on her high price for a month or so and hope that maybe she considers my offer then. |
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| Author: | Weasel_80-204 [ 14 Jun 2012, 18:21 ] |
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It was on the market for a while and it was a short sale. The previous owners had to shell out $20K out of pocket. They also hadn't lived in the house in a long time. We got lucky on the aspect that our neighbors are awesome.
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| Author: | Racegal8 [ 15 Jun 2012, 03:47 ] |
| Post subject: | |
Wow its beautiful! I think that is where part of my problem comes from, The house we bid on was only on the market for 10 days when we put in an offer. |
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| Author: | Weasel Keeper [ 16 Jun 2012, 06:37 ] |
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Don't be discouraged at all! This is a buyers market...period. Gone are the days of most sellers making what they want. It will come down to either: somebody else really wanted that house and offered the selling price, or give it a month or two (or more) and the seller will find out they'd better take a deal offer or nothing. I know. I've had a house on the market for three years without an offer. I'm ready to cut my losses and lowball myself to get rid of it. |
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| Author: | Racegal8 [ 18 Jun 2012, 04:23 ] |
| Post subject: | |
Thanks for the encouragement, i'll keep you guys posted and i suppose i should go back to looking at my home websites and get started all over again. |
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| Author: | TheBigThug [ 20 Jun 2012, 19:22 ] |
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The Real estate agent is not grasping the reality of the market today. it is a buyers Market whether it is built or previously owned. I went through this for 6 months here in Japan as well and settled on a Home that is worth 3 times as much. The builders I talked to were all trying the same thing highballing for when the market was in their favor. Now that I have my home, I am building a Large two story building on the land next to my house. Right now im dealing with the same situation again on this new stage. I have builders trying to get 200K off me for a 50k Structure.. The house you think is yours, never was to be, and believe it or not. You will find a better house in the future. Trust me! |
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| Author: | HogDog [ 26 Jun 2012, 03:36 ] |
| Post subject: | |
Don't totally give up on it...the 1st house I ever bought, I offered 20k less (figuring we would meet in the middle), and they seemed totally insulted. They also wouldn't even counter-offer. So I told my agent to raise the offer to what I had already decided was the most I would pay for it. Again, they scoffed and would not counter offer and acted insulted. My agent tried to get them to understand that this was a BUSINESS TRANSACTION, NOT personal! Still nothing. So we walked away. Then 2 weeks later they called back and said, \"well ok\". You just never know! 
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| Author: | Racegal8 [ 26 Jun 2012, 23:25 ] |
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House has been on the market for almost a month, with no other offers and no change in price. I'm hoping that she is still keeping me in mind. |
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| Author: | sgtgoose1 [ 04 Jul 2012, 16:04 ] |
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Racegal8, I'm going thru the same thing as we speak. We dropped are starting price from $140,000 to $122,500.00. Then we have people starting to look at our place. We're replacing the roofs on the house and garage starting tomorrow. The house we want the Lady wanted $198,000 for. We offered her $185,000. She took it. But now Homes around the area are starting to pick up and are gong for more money. So we have a Guy who wants to buy this place after the roofs are done and then make us an offer. We can't go under $120,000.00 thats are break even point. So we'll see what happens, but if he doesn't buy it , the price goes up to $130,000. Goose |
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| Author: | Racegal8 [ 09 Jul 2012, 04:21 ] |
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So friday my realtor contacted me, the realtor for the house we want said that if we would go up $10,000 (with no assist) the home owners would consider our bid. I really don't want to go up that high, what do you think the harm is is going to the $245,000 that they want but asking for a $3000 assist. Do you think we are going to \"insult them\" again with this offer. |
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| Author: | Racegal8 [ 14 Aug 2012, 02:10 ] |
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So my house has dropped by $10,000 and they dont seem to want to budge any farther. This makes my bid $15,000 below asking price. No one else has bid on this home in the 2+ months its been for sale...you would think they would consider my offer at this point. |
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| Author: | jackb [ 14 Aug 2012, 04:28 ] |
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It costs nothing to offer. The absolute most horrible thing that could possibly happen is... They say no. |
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| Author: | Ice Pirate [ 14 Aug 2012, 07:08 ] |
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It'll really come down to how badly they want to sell. Make the offer and if they get their collective panties in a bunch, then keep an eye on it for a couple of more months. They'll come down eventually.
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| Author: | I RIDE A PALE HORSE [ 14 Aug 2012, 12:28 ] |
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Racegal8 wrote: So my house has dropped by $10,000 and they dont seem to want to budge any farther. This makes my bid $15,000 below asking price. No one else has bid on this home in the 2+ months its been for sale...you would think they would consider my offer at this point.
If i had to have the house, I would re-offer the same bid one time a month, and keep in touch with the realtor. And i'd remind him that every month they're there is probably costing the current owner a grand or more in mortgage pmnt's. And honestly, if the pre crash value of the house you are looking at was not at least 30%, and more reasonably 40% higher than the current asking price, i'd simply move on. Some Americans are too stupid to realize that this is a buyers market. |
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| Author: | Racegal8 [ 15 Aug 2012, 00:12 ] |
| Post subject: | |
We pretty much are offering the same bid monthy but my realtor is on me to go up by at least 5,000-10,000 to \"end it\" now |
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| Author: | Ice Pirate [ 15 Aug 2012, 19:21 ] |
| Post subject: | |
Just remember that a realtor has an intrest in how much you pay, and also an intrest in closing the deal so they can get paid as much and as soon as possible. Just because they represent you in the negotiation, does not mean that they have your best intrest in mind. They are out for their own profit first, and your intrest will always come second. Don't let them push you into spending more than you can afford. You don't want to end up like so many others have in this housing market, with a house that you can just bearly afford. Also, what ever you do, do not take an Adjustable Rate Mortgage, (ARM). Those are always a big mistake. They will only make your mortgage go up until you can't afford it any more and you lose your home. Renting sucks, but having a mortgage that you can't pay is even worse. Now is not the time to play fast and loose. Look closely at what that extra 5 to 10K will do to your loan, and remember there will be things that have to be fixed, replaced or improved along the way. It's OK to hope for the best, but PLAN for the WORST. |
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| Author: | Racegal8 [ 16 Aug 2012, 02:24 ] |
| Post subject: | |
thanks for all the input, i'll keep you posted. |
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| Author: | Old Chief [ 23 Aug 2012, 14:39 ] |
| Post subject: | |
Racegal, unless you have a \"buyers agent\" the real estate agent does not work for you, she's working for the person that's going to pay her commission..in this case it's the seller. Your offer is reasonable considering everything and you need to make certain you don't make yourself housepoor by over extending yourself. The longer the house stays on the market the better your odds of the seller accepting. Don't give up but don't stop looking at other properties either. OC |
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| Author: | Racegal8 [ 27 Aug 2012, 04:16 ] |
| Post subject: | |
Well its all over, my dream house sold last night to someone else..... i guess they were willing to pay full price. |
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| Author: | Ice Pirate [ 27 Aug 2012, 21:04 ] |
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Don't feel bad, there are more out there, and it's best that you didn't end up paying too much. It's best when you live within your means. Yes, you could have paid more and had that house, but what would happen if you suddenly had a major repair to do, or your car breaks down, or some other unexpected emergency. better to have a little leeway. Keep looking, you'll find the one that is right for you soon. |
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