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Thread summary:

Not selling: tire kickers, great deals, nice location, lake view, swing the mortgage, rampant inflation

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Old 07-29-2008, 02:48 PM
 
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We did a few things. We bought at the lowest in NY in 1996. Then we tried to sell that one in 2004 as we were moving, didnt sell it, rented it out and still bought in 2004. Then in 2006 we decided we had enough of NY and wanted to sell everything. Well, the market turned south quickly and we went to plan B.

So we are at plan b now. We still make mortgage payments but our new plan would be to stay put for 10 years and then sell but retire at that stage. We did buy a vacation home this year in PA.

If you dont need to sell, stay ; its no big deal. There is no point in rushing into a move, loosing your shirts and then being so unhappy. Life is too short.

d
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Old 07-29-2008, 02:50 PM
 
Location: Somewhere in TN
710 posts, read 1,957,745 times
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My parents took a beating in 1981 when they sold their Main Line Philadelphia suburban house at a loss. I think I remember the selling agent didn't take a commission (he was a friend) and between the bit of equity (through mortgage payments) they had built up and that, they managed to hang onto a fairly good chunk of what they had put down on the house from the sale of their prior house--equity they had built up over 3-4 decades of homeownership. They really needed to have a certain amount of $$ because my dad wanted to assume the 6% VA loan of someone in Florida and had to be able to come up with the cash for the balance--this was in the days when mortgage interest rates must have been in the mid to high teens (maybe even 18%?), so obviously a 6% assumable loan was like gold.

Not only did they have to take significantly less, but it took forever for the house to sell. What a stressful time that was.

Anyway, ThreePitas, what I was going to suggest was along the lines of relax and enjoy life, but also...if there was something glaring thing that you thought needed to be done with your house (update a bathroom, replace some old carpet, etc) that would make it more attractive to buyers when you do go to sell, why not do it now and enjoy it for a while? I don't know your story and whether you've already done all that stuff, so if you have and it's all in tiptop shape, then you can REALLY relax and enjoy your home. If not, maybe 1 or 2 things that you always meant to get to and then have a bit of a breather to enjoy them. When we sold our FL house in 2005, it was sort of aggravating that we waited until right before we left to replace carpeting and take down wallpaper, when we could have done it 5 years earlier and then enjoyed it for those 5 years!

I'm so sorry you've run into trouble with selling. It's so so frustrating. I wish you nothing but peace and to enjoy the rest of your summer.
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Old 07-29-2008, 02:56 PM
 
Location: Coastal Georgia
50,175 posts, read 63,623,198 times
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All I can say is, you definitely won't sell it if it's not on the market.
We've been for sale since April, 07, and I too feel trapped that I can't just move when I feel like it.
Really, though, we've only had maybe 10 showings in all that time because the lookers are carefully screened by our agent and we've never had less than a day's notice before a showing. So it hasn't been too much of a hardship.
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Old 07-29-2008, 03:29 PM
 
4,610 posts, read 11,087,224 times
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Quote:
Originally Posted by ThreePitas View Post
This is just not the time to sell. We're all stuck in this place where we SEE great deals on houses but can't MOVE on them because we're shackled to our current house which is a great deal for someone else who is shackled to her house . . .

It's true - The things you own end up owning you.

It's OK - I hate where I live, but the location is nice. (People = blah, physical location, on lake with views = nice)

And I guess we really don't HAVE to move.

Anyone remember the slump from the 80s? How did you guys handle it?

Maybe we'll try again in the spring, but I am so sick of the tire kickers and no shows. How many times have I polished the door knobs! I feel like the buyers out there are just classless, tactless, hacks right now.

There is so much I want to BUY!!!

I feel your pain. We are trying to sell ourselves and see some deals on homes in the new area we want to go.

What's hard too is that we want to move so bad that all I can think about is our new area we want to move to. And all the things I want to do once I move there.

I feel like my life is on hold. I know it's not it's just that I feel like it is. I'm ready to move on!!!
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Old 08-01-2008, 09:54 PM
 
Location: NW RI
29 posts, read 95,053 times
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Default Now its more complicated.

I am SO ready to move on! I know what you mean - I have visited schools and checked out my "new" area and I love it. But I'm stuck here. It's depressing.

But I'm trying to relax and appreciate the house we live in (we do have a great view of the lake and the kids love swimming and the paddle boat). It is a great house - completely updated, slate and marble floors, new paint everywhere, in and out. So there is nothing else to do in it and I really do like the house, I just hate where I live - the people here. But you guys are right - we'll probably have to stay.

So things get more complicated - the owner of a piece of property I ADORE (on another lake, 6 acres. LOVE IT!) contacted us and said she would except the tentative offer we made a few weeks back. AH! I don't know what to do!

Zillow shows some prices actually going up. I know they aren't accurate, but where do they get their data from?
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Old 08-01-2008, 11:31 PM
 
3,191 posts, read 9,171,300 times
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I think zillow is a code word for made-up... a lot of those numbers on there look like they were pulled from where the sun don't shine...nothing is right for my neighborhood. All it is good for is the birds eye map IMO
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Old 08-02-2008, 04:54 AM
 
Location: NJ
23,838 posts, read 33,397,843 times
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Quote:
Originally Posted by ThreePitas View Post
This is just not the time to sell. We're all stuck in this place where we SEE great deals on houses but can't MOVE on them because we're shackled to our current house which is a great deal for someone else who is shackled to her house . . .

Maybe we'll try again in the spring, but I am so sick of the tire kickers and no shows. How many times have I polished the door knobs! I feel like the buyers out there are just classless, tactless, hacks right now.
Have you ever gotten feedback about your listing?
It's possible that your listing stinks and buyers are just clicking the back button. With a lot of inventory, buyers don't have to try to look at crummy pictures, nor do they need to google an MLS number if you don't have an enhanced listing at realtor.com. When I was buying, there was so much inventory, there wasn't enough time in my day to look at everything online.

Did you look at your pictures? Did they show your house in a good way? Is there stuff laying around that shouldn't be in the picture?

Quote:
Originally Posted by gentlearts View Post
All I can say is, you definitely won't sell it if it's not on the market.
We've been for sale since April, 07, and I too feel trapped that I can't just move when I feel like it.
We listed Memorial weekend of 07. We had 2 weeks of showings, then the market stopped dead until February 08.

I agree, you have to be listed in order to sell. Think about how many people will also take their house off or not renew. The way I saw it when I was selling was it was less competition for us.

Quote:
Originally Posted by Roma View Post
I feel your pain. We are trying to sell ourselves and see some deals on homes in the new area we want to go.

What's hard too is that we want to move so bad that all I can think about is our new area we want to move to. And all the things I want to do once I move there.

I feel like my life is on hold. I know it's not it's just that I feel like it is. I'm ready to move on!!!
Your time is coming. It will happen when it needs to happen. If you do sell now, will you move your medical care to the new place?

(((HUGS ROMA)))
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