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Old 05-27-2007, 08:06 PM
 
21 posts, read 45,250 times
Reputation: 11

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hi everyone!! as you all know from my last posts, i'm moving to the great state of TEXAS! but. my house here in california is not selling!! the job situation out there is looking really good but selling here SUCKS!!! i know there are people in this foum that have been through this so i'm asking for advise. should i cut my price or sit tight? also. i have two small dogs that i need to transport and if any of you have done that can you tell me what a hassle it was? i don't want to put them on a plane and i heard there ar company's that ground transport. my dogs are not small enough to bring on a plane and put under the seat. momof2dfw i'm sure you know a link to help us. my son's doctors have given us the green light to move and assured us he will be in the best of care there. they have also set him up with a kidney and blood specialist in the area. it is all falling into place for us but we still have so many worry's. i gotta get the hell out of socal!!
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Old 05-27-2007, 08:18 PM
 
3,035 posts, read 13,020,476 times
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Where are you ?

How does your house compare to others on the market ?

Did you de-clutter and freshen the place up ? Put in some new shrubs, etc. ?

Selling out there is a whole new ballgame these days and you need to make sure your home is priced right and immaculate. 2 years ago, things like a Kitchen remodel would get you more than your nieghbor, nowadays it means nothing more than you may sell before them.
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Old 05-27-2007, 08:57 PM
 
21 posts, read 45,250 times
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i'm in north orange county. i'm not gonna do anything else to my house. we did windows,carpet,paint,pergo floors ect. we have a pool and are near schools and shopping also. i've dropped the price 20k in the last week but no takers. guess i'll drop it more. i waited a year too long i guess. go figure.
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Old 05-27-2007, 09:16 PM
 
Location: Garland Texas
1,538 posts, read 6,313,052 times
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Do you have you home listed online? Most people use the internet in their home search. Some realtors automatically put all listings online, and its optional with others. Host an open house or something of that nature. The market is tough right now in that area, so it may take persistance.
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Old 05-28-2007, 05:52 AM
 
3,035 posts, read 13,020,476 times
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North Orange County = ?

Tustin proper....Santa Ana ?

Or Irvine and Tustin Ranch ?

I think some areas in OC are still strong (near the ocean in the good school districts), but others are just overloaded with inventory.

Also, are your P&I payments such that you can afford to rent the place out (Recall the Realtor fees will be 30-40k alone), then come out here and maybe buy something smaller ? Recall, out here, the down payment (even at 20%) on a home is peanuts compared to what your used to in CA. It's not the top of the market there anymore, so you need to be agressive in order to sell.

I just sold in San Diego (getting beaten worse than OC) in a week and only dropped by price by 10k. So I'm speaking from experience.

-I repainted the inside with a nice nuetral color
-I redid some of the landscaping, added flowers/mulch everywhere
-I had already repainted the outside
-Removed a ton of personal stuff from the inside (and didn't stack it in the garage) and cleaned everything so that is was spotless
-I had already redone my kitchen (which is expected anymore, nobody buys old kitchens anymore - HGTV has spoiled everyone)
-I have never had pets, which is a huge turnoff for people like my wife that is deathly allergic. There was one home in Plano here that I wanted badly, but the cat dander was so bad it made my eyes water, and I'm not the allergic type. It would have been unliveable for my wife.

The people I see struggling to sell in Socal are ones that will not come to grips with the fact that the market is 'completely' a buyers market now. You need to dress your house up in lipstick and high heels if you have any prayer of selling. If you think about it, most buyers in Socal are strrapped to the end of their limits when they buy, so 'fixers' make no sense anymore because appreciation is going south. Buyers need to think of the home as move in ready and see themselves living in it with their stuff.

Perception sells. If you own a buyer's perception, you sell the house.

Last edited by socketz; 05-28-2007 at 06:06 AM..
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Old 05-28-2007, 06:11 AM
 
27,447 posts, read 44,947,050 times
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maybe you have not considered this but having a home up for sale in CA will not make it easy to qualify for mortgage in TX---banks won't see that as asset--but as liability sincethere is still outstanding mortgage to be paid each month--probably won't be able to get mortgage here until house is sold/closed and money freed up to use as downpayment on new home unless you have extremely high monthly income which makes the double mortgage supportable....
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Old 05-28-2007, 06:18 AM
 
3,035 posts, read 13,020,476 times
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Quote:
Originally Posted by loves2read View Post
maybe you have not considered this but having a home up for sale in CA will not make it easy to qualify for mortgage in TX---banks won't see that as asset--but as liability sincethere is still outstanding mortgage to be paid each month--probably won't be able to get mortgage here until house is sold/closed and money freed up to use as downpayment on new home unless you have extremely high monthly income which makes the double mortgage supportable....
That's not completely true. Your debut to income will come into play as you mentioned. They will typically take about 75% of your P&I on the home and count that against your debut to income. But they are still letting 50/50 ratios fly. And if you look at a mortgage on a sub 150k home with 20% down, it's tiny. About what rent is here.

Also, banks are still doing interest only negative ammortization loans in CA with almost 0 down. So they remain bullish on CA RE. I was told by several banks here that they wont even do seconds in TX and require 20% down.

I would rather move here and rent and lose a few hundred per month on the home in CA vs. dropping the price to the pain point, then handing a Realtor 40k of my equity.

The thing about the market here is that is goes up so slowly, your not going to be 'priced out' of anything in 2 years. I also think that the OC market will stablize first in Socal because it has strong emplyment growth and very high family median incomes. Other markets in Socal will follow.
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Old 05-28-2007, 06:02 PM
 
21 posts, read 45,250 times
Reputation: 11
thanks for the replys everyone. as far as my location goes i'm on the La Habra ,Brea,La Habra Heights border. the house is turn key. i guess i'll just be patient. as far as transporting my dogs are there any good suggestions. we dont want to air ship them because we feel it is un safe. we will be taking our bearded dragon as carryon though.
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Old 05-28-2007, 06:08 PM
 
3,035 posts, read 13,020,476 times
Reputation: 894
I like Brea/Diamond Bar. How are the other homes in the area doing with regards to time on the market ? Also, how long have you been listed thus far ?

Have your realtor pull all the comps on the homes that have sold in your area in the past year, then go through and look at what they looked like...ammenities and such.
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Old 05-28-2007, 10:08 PM
 
1 posts, read 2,072 times
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hey nomoresocal. i understand. i've been a lifetime socal resident (35 years) and i can't wait to get the hell out. in the past few years, i've seen it just go to hell and it's not a place i want to raise my kids. good luck on your home sale. we're about to close in los alamitos and can't wait to settle in mckinney.
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