Not a buyers market in Indiana (South Bend, Mishawaka: best neighborhoods, real estate, foreclosure)

[fallingwater]

I am so frustrated with home sellers in this area. I just got turned down on my 3rd bid on a home. These sellers are crazy! I totally understand that everyone has their bottom line when selling their home but the people I have run into seem like I should be begging to buy their place.

The first house we bid on we offered 7k less than the asking price. The home is empty and the sellers live in a newly built home somewhere else in the area. The house was priced comparable to the area but it had issues. The living room carpet was heavily stained. The siding on the back of the house was melted from a grill and the sprinkler system is broke but its still listed as a "feature" for the home. The seller countered with a price only a 1,000 less than his asking price. He even has the house listed with the statement "please bring any and all offers." With his counter he sent along a message that he doesnt want to even hear another counter. So we didnt. He was very cocky. Also the house has no tax breaks and the taxes were sky high. We even had to make sure we qualified for the house cuss it made our payment 250.00 more per month till our homestead kicked in.

Our 2nd bid was to a bank repo. We offered the listing price. The bank came back and gave us another 24 hrs to offer our "best" bid. Asking price is not good enough? So we left that one alone as well.

Our 3rd offer was 5K less than asking price. Our realtor didnt even really like the idea as she felt the home was over priced. But we loved this house. I asked for the seller to leave the drapes in the living room. The way the window treatments were set up, it would look odd if the seller took them. Also they matched what I own. We got a counter that was only 500 bucks less than their list price! The sellers bought the house less than a year ago. They would have to bring a 1,000 dollars to closing to walk away. In this market and only owning the home 10 months, thats pretty damn good considering lots of people would have to spend a lot more than that to walk away. The sellers would also not leave the drapes. They truly feel someone will come in and give them the exact list price of their home. Even though they have the 1,000 dollars to come to closing they simply dont want too.

Im about to give up on all this real estate crap. I dont know if people are in la la land or what but I do feel we have not tried to gouge anyone. Are Indiana sellers completely out of their minds or have we just run into several idiots?

[Chuckity]

You're running into idiots.

Except for the foreclosure ... it sounds like there were multiple bids and the bank wanted highest and best. (That's pretty common for a very well priced foreclosure.)

Sorry you're having problems!

[fallingwater]

Originally Posted by Chuckity

You're running into idiots.

Except for the foreclosure ... it sounds like there were multiple bids and the bank wanted highest and best. (That's pretty common for a very well priced foreclosure.)

Sorry you're having problems!

Ok, so its just idiots then. Sheesh. I just keep telling myself something a lot better will come along.

[domergurl]

Yea, idiots abound. Have your realtor keep in touch with their realtors (I'm sure they're banging their heads on the wall too) ... someone will come to their senses.

[fallingwater]

Originally Posted by domergurl

Yea, idiots abound. Have your realtor keep in touch with their realtors (I'm sure they're banging their heads on the wall too) ... someone will come to their senses.

I was told by my realtor that Granger is not a buyers market. Interesting. I would like people's thoughts on this statement. Im curious as I have gotten the vibe from my realtor she isnt too fond of Granger. She hasnt come right out and said it but is CONSTANTLY telling me to look more in Mishawaka or Osceola.

[domergurl]

Granger has a snooty reputation ... and you can probably get more house in mishawaka or Osceola. I think RE in Granger is pretty stable because of ND, but I'd imagine that people are going to come back down to earth sooner or later ... time will tell.

[fallingwater]

I feel so much better I could vent. Buying a house stinks!

[domergurl]

Originally Posted by fallingwater

I feel so much better I could vent. Buying a house stinks!

It's stressful, that's for sure!!!! Chin up!!!

[aebuell]

I would agree, it seems like the most desirable areas still have a perfectly healthy market for sellers, and Granger is still a pretty desirable area considering the low crime, great schools, high average income etc. You will pay a premium to live there.

I'm looking in the historical districts of South Bend which are so beautiful and have a million times more character than the newer Granger developments. The only downside is the South Bend schools. I believe it's more of a buyer's market here, even in the best neighborhoods, but not sure... haven't made any offers yet. We'll see.

[fallingwater]

Originally Posted by aebuell

I would agree, it seems like the most desirable areas still have a perfectly healthy market for sellers, and Granger is still a pretty desirable area considering the low crime, great schools, high average income etc. You will pay a premium to live there.

I'm looking in the historical districts of South Bend which are so beautiful and have a million times more character than the newer Granger developments. The only downside is the South Bend schools. I believe it's more of a buyer's market here, even in the best neighborhoods, but not sure... haven't made any offers yet. We'll see.

The historical area of South Bend has homes to drool over. lol. I love architecture and my dream would be to own a home that has stunning character and quality. If I wasnt a parent, I wouldnt concern myself so much with schools. If I could afford private school, then again I would broaden my home search. I left my 1920's colonial back in Detroit for cookie cutter land.

I finally found a seller that actually is reasonable and wants to sell for a fair price. I ended up buying in Osecola, a mile from the Granger border. Same schools, new sub. Now I am looking forward to the stresses of closing. I hope all goes well. Buying a home anit as easy as it used to be thats for sure.