U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Wisconsin
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 03-29-2010, 04:43 PM
 
13 posts, read 38,489 times
Reputation: 14

Advertisements

Well, I think I just missed my once in a lifetime chance to buy a big new house on wooded acreage. I work in St. Paul and want to buy a house in western Wisconsin because I really want secluded wooded acreage. About three weeks ago I ran across a 2007 built 1800sqft rambler on 5.5 wooded acres for $180K. I offered $160K and the Realtor said they would accept. So, I got the ball rolling and got approved for the loan and whatnot. I shopped around for the best rates until I locked in at 4.79%. So on Sunday I call my realtor to meet me on Monday to buy the house. So this morning he calls me and tells me the house was sold yesterday afternoon. Keep in mind, this house has been on the market since Jan of 08. Thats right folks, 800 days and today I go to buy it and it gets sold yesterday. I'm just a common railroad man making 50K a year so this was my chance and i'm thinking it was my only. Now i'm screwed....screwed..screwed.
Reply With Quote Quick reply to this message

 
Old 03-29-2010, 04:53 PM
 
Location: Mequon
6,861 posts, read 12,281,036 times
Reputation: 3026
Quote:
Originally Posted by countrymanl67 View Post
Well, I think I just missed my once in a lifetime chance to buy a big new house on wooded acreage. I work in St. Paul and want to buy a house in western Wisconsin because I really want secluded wooded acreage. About three weeks ago I ran across a 2007 built 1800sqft rambler on 5.5 wooded acres for $180K. I offered $160K and the Realtor said they would accept. So, I got the ball rolling and got approved for the loan and whatnot. I shopped around for the best rates until I locked in at 4.79%. So on Sunday I call my realtor to meet me on Monday to buy the house. So this morning he calls me and tells me the house was sold yesterday afternoon. Keep in mind, this house has been on the market since Jan of 08. Thats right folks, 800 days and today I go to buy it and it gets sold yesterday. I'm just a common railroad man making 50K a year so this was my chance and i'm thinking it was my only. Now i'm screwed....screwed..screwed.
This happen to us 3 times in a row. We were shown a house on Saturday and Monday it was gone.
Reply With Quote Quick reply to this message
 
Old 03-29-2010, 06:10 PM
 
Location: Texas
97 posts, read 152,567 times
Reputation: 32
Did you give a written offer with earnest money?
Reply With Quote Quick reply to this message
 
Old 03-30-2010, 11:03 AM
 
Location: Portland OR
1,045 posts, read 1,437,240 times
Reputation: 935
It is my understanding that many times realtors show offers to other people (fence sitters) who have indicated they may be interested in a property. The point is to get them to move off the fence with a higher #.

Not sure if it is legal, but sure seems unethical if nothing else.

However, I cannot believe western WI is a hotbed of real estate activity right now. There has to be other interesting property available for you to investigate.
Reply With Quote Quick reply to this message
 
Old 03-30-2010, 12:02 PM
 
Location: The house on the hill
872 posts, read 2,140,196 times
Reputation: 566
There will be another great house with acerage. No worries.
Reply With Quote Quick reply to this message
 
Old 03-30-2010, 09:51 PM
Status: "More snow please" (set 13 days ago)
 
Location: Madison, WI Metro Area
15,407 posts, read 21,504,022 times
Reputation: 7806
The same thing happened to my parents recently. A house with 25 wooded acres in NH SOLD after being on the market only a couple of weeks. They had no idea it would sell that fast as a verbal offer was already on the table the day they looked at it. I definitely understand your frustration.
Reply With Quote Quick reply to this message
 
Old 03-31-2010, 11:02 AM
 
13 posts, read 38,489 times
Reputation: 14
Yeah, its gone for sure now. Been lifted from the mls. No, I didn't give any money in earnest or sign any contracts. I'm a first time home buyer so I lack experience. I thought since it was on the market for 800 days i'd be safe to shop around for the best interest rate before I buy. The chances of a newer home on wooded acreage popping up before the 4/30 tax credit deadline is very slim. However, its still possible. You see, the railroad does not increase wages based on cost of living. Back in 05' a railroad wage would be lucky to get you a two bedroom apartment. Now in this affordable buyers market my wages can get me a pretty nice house. If house prices rise again I could be screwed for life or until the economy crashes again.
Reply With Quote Quick reply to this message
 
Old 03-31-2010, 11:14 AM
 
9,807 posts, read 6,470,036 times
Reputation: 8127
50k isn't a bad wage,
Reply With Quote Quick reply to this message
 
Old 03-31-2010, 11:33 AM
 
13 posts, read 38,489 times
Reputation: 14
In this market its a great wage, I agree. Back in 05' when a run down rambler in the projects were going $250K+ it wouldn't get you jack. The point i'm making is I need to find a house within the next month before prices skyrocket and the tax credit is abolished.
Reply With Quote Quick reply to this message
 
Old 03-31-2010, 12:32 PM
 
Location: East Side Milwaukee
652 posts, read 851,668 times
Reputation: 392
Quote:
Originally Posted by countrymanl67 View Post
In this market its a great wage, I agree. Back in 05' when a run down rambler in the projects were going $250K+ it wouldn't get you jack. The point i'm making is I need to find a house within the next month before prices skyrocket and the tax credit is abolished.
I wouldn't worry too much about it. It's only for 8,000 and most sellers are aware of the tax credit, they probably boosted up their sales price because they know buyers will pay more.

They'll be much less competition for homes after the tax credit is done, you'll be able to offer less and still get what you want.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Wisconsin
Similar Threads
View detailed profiles of:

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top