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Old 03-26-2010, 07:47 AM
 
58 posts, read 20,580 times
Reputation: 62

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People can't believe it when I say we've only had four showings in 10 months. Our house is priced with the comparables, spotless, updated, and in a good location. It's just that our state, county, town has really been hit hard by the recession! Can anyone feel my pain? Are you STUCK? What can I do?
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Old 03-26-2010, 07:59 AM
 
Location: occupied east coast
567 posts, read 1,074,274 times
Reputation: 768
Does anyone feel "STUCK"?

YES!!!!

Mine is the same story as your, only a year ago.

Turns out we are not competing with everyone "selling" a house.

We are competing with everyone "LOSING" a house.

How can we compete with people and banks willing to take a loss?
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Old 03-26-2010, 08:05 AM
 
Location: Baltimore burbs
1,019 posts, read 1,229,964 times
Reputation: 1592
i can relate. We have a GREAT house, large, bright, completely updated, sitting on 3 acres in a parklike setting but only 5 minutes from the expressway and 20 minutes from downtown. Unfortunately we bought in 04, at the height of the housing boom and, the house needed significant renovation at the time so, we sunk another 100K into it and now we are stuck. Comparable houses in our area have been on the market for a year or more, priced well below what we can afford to sell for. The only alternative is to stay put and hope that in 3 - 5 years the market will rebound somewhat. Luckily we don't "have" to move, it's just that the upkeep of the property is more than we want to deal with as we are getting older but, I'll stay here until I retire if the market doesn't improve. I refuse to take a loss. I know the market will never return to what it once was but prices now are just ridiculously low; as long as there are so many foreclosures on the market and, so many unemployed I don't see any quick change in supply and demand.
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Old 03-26-2010, 08:48 AM
 
Location: Central Maine
4,069 posts, read 3,296,669 times
Reputation: 3523
I guess that yes, we're feeling a little stuck.

My wife and I retired two years ago, and the original plan was to take a few months to relax as well as fix up the house a bit, then sell and move to a smaller house in a lower cost of living area.

That was about the time that the housing bubble was in full-bursting mode. There was NO way we were going to change our plans to retire. But fortunately, we planned ahead, and we're in a house we like and can afford, in an area we like (and like all the more now that we're retired and don't have to commute into DC every day) and can afford, and if we have to postpone our plans to relocate (to be closer to family), well, so be it.
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Old 03-26-2010, 08:48 AM
 
Location: Where I want to be!
6,196 posts, read 3,351,263 times
Reputation: 2556
Same here, been on the market close to 2 yrs now...it stinks. Our area is all farms, no employment, little shopping available and 40 mins to major towns. Been under contract twice, both fell through at the last minute, only a hand full of showings since. Only 2 houses have sold since Oct. 09 so they are now my comps and are $31/sf higher than mine since I dropped the price again. I have a big house with land, barn and pool, clean inspection, new survey and incentives and still nothing....
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