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Old 06-19-2012, 04:14 PM
 
Location: El Dorado Hills, CA
3,670 posts, read 7,976,512 times
Reputation: 3748

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Just remember, if and when your home increases in value to a point you are OK selling it, the home you want to buy will have increased too (not to mention interest rates going up because they are REALLY low right now). If you can afford to take the hit and move now, it might save you money rather than costing you money. Keep your eye on the big picture.
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Old 06-19-2012, 04:28 PM
 
Location: Boise, ID
8,011 posts, read 22,511,601 times
Reputation: 9213
Quote:
Originally Posted by wakefield622 View Post
Any recommendations on killing the clover in our yard without killing the entire yard? or is that the only way to go?
There isn't an easy way. I had a small patch of clover in my front yard a few years ago, and a couple applications of broadhead leaf weed killer did kill it off, but then I had to wait for the grass to fill back in. The problem is that as widespread as yours appears to be, if you kill it off, you may not have any lawn left to fill in. I only mentioned it because it caught my attention and so you would be aware it is a negative, and lowers your value compared to a house with a well maintained yard.
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Old 06-19-2012, 05:26 PM
 
Location: El Dorado Hills, CA
3,670 posts, read 7,976,512 times
Reputation: 3748
Quote:
Originally Posted by wakefield622 View Post
The market is picking up in DE and most people aren't hundreds of thousands under on their home loan...like say the CA market. "Anywhere near"? Most people around here are not making loads of money. But, also being able to get what they bought for.
Have your agent look up the average sales price for homes in your town when you bought vs. now. Then do the math. I'm not talking hundreds of thousands of dollars, but maybe 10-20% lower. Perhaps that's not the case in your town, but it can't hurt to have that knowledge.
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Old 06-19-2012, 05:32 PM
 
39 posts, read 49,606 times
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Quote:
Originally Posted by NinaN View Post
Just remember, if and when your home increases in value to a point you are OK selling it, the home you want to buy will have increased too (not to mention interest rates going up because they are REALLY low right now). If you can afford to take the hit and move now, it might save you money rather than costing you money. Keep your eye on the big picture.
You are so right. I totally agree with you.
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Old 06-19-2012, 05:38 PM
 
39 posts, read 49,606 times
Reputation: 27
Quote:
Originally Posted by Lacerta View Post
There isn't an easy way. I had a small patch of clover in my front yard a few years ago, and a couple applications of broadhead leaf weed killer did kill it off, but then I had to wait for the grass to fill back in. The problem is that as widespread as yours appears to be, if you kill it off, you may not have any lawn left to fill in. I only mentioned it because it caught my attention and so you would be aware it is a negative, and lowers your value compared to a house with a well maintained yard.
Trust me...we have wanted to get this taken care of! Our son's busy baseball season just ended and we actually have time to breathe and take care of these things! Our front yard looks very good and the weeds just overtook the backyard starting in the Spring.

We will do some research and figure out a way to control the spread of it...until we can re-seed.
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Old 06-20-2012, 08:25 AM
 
11,614 posts, read 19,716,271 times
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Quote:
Originally Posted by wakefield622 View Post
Thank you all once again. I appreciate it. As my husband and I talked..it's not the end of the world if we do not sell this time. We are not comfortable selling for less than we owe - which is the reason why we are priced where we are. If we can sell this time around..we will wait and re-list at another time. I have hopes we can sell and I am not unrealistic in the way where if we need to dip to where we make nothing that is okay.

We bought this home young (both were 22 years old) So, we have time. Just looking to better our family with location, school districts and so on.
You are both young. If you are happy where you are maybe you should consider staying, especially if the market is no longer declining in your area. The house is a nice house. It's not very different from other houses in the area, but there isn't anything obviously wrong with it. You can always improve the landscaping in the future.
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Old 06-20-2012, 09:01 AM
 
Location: O'Hara Twp.
4,187 posts, read 5,795,600 times
Reputation: 1512
Quote:
Originally Posted by wakefield622 View Post
Our realtor suggested $200,000 so we appeal to the buyers from 175,000-200,000 and the 200,000-225,000. As it is - if we wanted to walk away with not one penny....we could sell for as little as $197,000. Anything lower we would owe the bank and we can not put ourselves in that situation. If need be we will drop to 200,000 to appeal to more buyers if this drop doesn't do what we need it to.

I looked up and there are new construction homes going for $206k. I am not going to not give us credit as we have upgrades (newly paved driveway, beautiful deck, fireplace, pergo flooring, custom paint etc) So, I think the $202,995 is a price we can be happy with and walk away with a little bit of $$ as well.
I think you are going to be underwater even if you sell it for 200,000 because you will have to pay the realtor. In PA, for example, that is 6-7%. Additionally, most buyers are going to be asking for some type of closing assistance.

Buyers also are usually willling to pay a premium for new construction. So, your houses should be priced cheaper than comparable new construction.
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Old 06-20-2012, 09:32 AM
 
39 posts, read 49,606 times
Reputation: 27
Quote:
Originally Posted by robrobrob View Post
I think you are going to be underwater even if you sell it for 200,000 because you will have to pay the realtor. In PA, for example, that is 6-7%. Additionally, most buyers are going to be asking for some type of closing assistance.

Buyers also are usually willling to pay a premium for new construction. So, your houses should be priced cheaper than comparable new construction.
I have a spreadsheet with our realtor fee (5%) and city/county taxes and misc fees we can sell $195,000 and break even.

Exactly the reason for the price drop as I saw new construction homes for $4,000 less than our starting price. So, we lowered.
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Old 06-20-2012, 09:34 AM
 
39 posts, read 49,606 times
Reputation: 27
Quote:
Originally Posted by Momma_bear View Post
You are both young. If you are happy where you are maybe you should consider staying, especially if the market is no longer declining in your area. The house is a nice house. It's not very different from other houses in the area, but there isn't anything obviously wrong with it. You can always improve the landscaping in the future.
We are not unhappy...but, not happy with where we live. We would rather have some space in between us and the neighbors. Thank you for the compliment of being young - But, just because we are young doesn't mean we need to stay somewhere that we are not 100% in love with. Also, we have two children to think about.
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Old 06-20-2012, 11:37 AM
 
11,614 posts, read 19,716,271 times
Reputation: 12046
Quote:
Originally Posted by wakefield622 View Post
We are not unhappy...but, not happy with where we live. We would rather have some space in between us and the neighbors. Thank you for the compliment of being young - But, just because we are young doesn't mean we need to stay somewhere that we are not 100% in love with. Also, we have two children to think about.
I agree that being young does not mean you should be unhappy. However, sometimes it makes sense to delay a move.

As the parent of 3 much older kids (18, 16, 13) I understand wanting the best possible life for your children. Do you have other financial resources so that you can bring cash to the table to move to a better place?
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