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Old 01-09-2016, 11:49 AM
 
Location: Canada
6,615 posts, read 6,487,181 times
Reputation: 18433

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RUN, don't walk! If you try to barter a higher price, that house might sit there for YEARS! go now!
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Old 01-09-2016, 01:32 PM
 
122 posts, read 228,211 times
Reputation: 100
Quote:
Originally Posted by gouligann View Post
RUN, don't walk! If you try to barter a higher price, that house might sit there for YEARS! go now!
I agree, take the money and be glad to move on.
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Old 01-09-2016, 04:48 PM
 
Location: Arlington South of Southern
52 posts, read 82,562 times
Reputation: 64
YOU MUST GRAB THE MONEY AND RUN.. but don't forget to say thank you
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Old 01-09-2016, 04:52 PM
 
Location: Katy, TX
465 posts, read 609,455 times
Reputation: 727
I would love to have a buyer for a home we own in Killeen. Even if it meant we broke "even". Take the money! Good luck!
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Old 01-09-2016, 06:19 PM
 
Location: New Hampshire
639 posts, read 574,043 times
Reputation: 1046
YAAAASSSS, Take the money.
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Old 01-09-2016, 06:57 PM
 
Location: Georgia
4,578 posts, read 5,620,519 times
Reputation: 15968
Quote:
Originally Posted by jamies View Post
ok, need some advice. I have a small house in a bad neighborhood that i bought as a rental but ended up living in. The neighborhood is not quite a war zone, but think dead cars in about every fifteenth yard, weeds you could lose your way in, 1960's mobile homes, many in disrepair. Drugs, beater cars, a lot of beaten people. City takes minimal action to clean area up, i think it will continue to decline for forseeable future. A lot of vacant properties and old trailers.

So, here's my dilema. Renovated to move in ready condition and exposed to market will sell for $75-95k though similar model on next block has languished at $93k for many months.

House next door on market, hud owned at $65k, needs similar renos. Local comps are mobiles on lots, or site built of similar, 1960's vintage. Mobiles about $35-65k, stick going for $55-95k.

We paid $42k have about $50k in it at this point. Total needed renos about $9 -15k. Puts us at $60-65k.

Got a cash offer from a neighbor for $60k as she sits, no contingencies. I think i can get them up to $62.5.

Would you grab the money and run, or spend more, do the reno and hope to sell higher?
take the money and run!!!!!!!!!!!!!!!!!!
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Old 01-09-2016, 08:39 PM
 
Location: City Data Land
17,156 posts, read 12,858,990 times
Reputation: 33164
A bird in the hand. . .
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Old 01-09-2016, 08:46 PM
 
Location: Needham, MA
8,525 posts, read 13,900,415 times
Reputation: 7908
Quote:
Originally Posted by davebarnes View Post
Pigs get fat and hogs get slaughtered.
I've never heard that version of the saying before. I thought it was . . . bulls and bears eat, hogs get slaughtered.
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Old 01-09-2016, 09:11 PM
 
Location: Long Island
9,918 posts, read 23,027,109 times
Reputation: 5871
Only one answer: Take it!!!
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Old 01-09-2016, 09:16 PM
 
Location: Texas
8,672 posts, read 22,211,777 times
Reputation: 21364
Quote:
Originally Posted by jamies View Post
OK, need some advice. I have a small house in a bad neighborhood that I bought as a rental but ended up living in. The neighborhood is not quite a war zone, but think dead cars in about every fifteenth yard, weeds you could lose your way in, 1960's mobile homes, many in disrepair. Drugs, beater cars, a lot of beaten people. City takes minimal action to clean area up, I think it will continue to decline for forseeable future. A lot of vacant properties and old trailers.

So, here's my dilema. Renovated to move in ready condition and exposed to market will sell for $75-95k though similar model on next block has languished at $93k for many months.

House next door on market, HUD owned at $65k, needs similar renos. Local comps are mobiles on lots, or site built of similar, 1960's vintage. Mobiles about $35-65k, stick going for $55-95k.

We paid $42k have about $50k in it at this point. Total needed renos about $9 -15k. Puts us at $60-65k.

Got a cash offer from a neighbor for $60k as she sits, no contingencies. I think I can get them up to $62.5.

Would you grab the money and run, or spend more, do the reno and hope to sell higher?
GRAB THE MONEY AND RUN!!!!! We lived in a bad neighborhood and I didn't want to leave because we had upside down equity but after being held up at gunpoint, I changed my tune.
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