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It's another spring and we've just relisted our house with a new agent. In the past year we had 7 showings..no negative feedback.
We lowered the price by $25,000. and our agent says things are starting to get busier around here. Here's hoping.
Anyone else still on the market after a year? Even St. Joseph did not do us any good.
wow, that's rough! Have you had any open houses? Seven showings is nothing in a year. Glad you're using a new agent. A friend of mine has had her house on the market for over a year. The only reason it's not selling is price, and she won't reduce it, so.....
It's another spring and we've just relisted our house with a new agent. In the past year we had 7 showings..no negative feedback.
We lowered the price by $25,000. and our agent says things are starting to get busier around here. Here's hoping.
Anyone else still on the market after a year? Even St. Joseph did not do us any good.
Ha I can beat that. We are going into our third year on the market. Bought house #2 in April 06 to move into. Put house #1 on the market, just as the market began declining. Now paying 2 mortgages, 2 sets of expenses. Out of desperation, have both houses listed, prices lowered to almost rock bottom (but above a short sale). There doesnt seem to be an answer. We are so stressed and are actually considering just walking away out of desperation.
Danse: I am so sorry!!! I know (sort of) how you feel. After looking around, and then feeling out rents in our area, we decided to just sit tight. The market is awful and it's depressing to see what's going on in the rest of the country. I live in one of the states that was hit the hardest.
Danse555, I know you mentioned that you don't feel you overpaid. But reality is that all of us who purchased homes in 05/06 overpaid. I mistakenly purchased a home in Scottsdale in April 05, put 30k into upgrading it, and wrote a check at close for almost 25k in July of 07.
We all overpaid. And the market is going to continue to correct downwards. I saw the flood of homes hitting the market in my neighborhood and very quickly put it on Craigs List at 50k less than any other comparable home and sold it without commission. And yes I still lost my 30k in upgrades and had to write a check at close for almost 25k.
Beena: What about those of us who bought in 2004? Also, what about just not selling and waiting out the bad market? Think it'll get better in a year or two and then maybe we can make some money?
Danse555, I know you mentioned that you don't feel you overpaid. But reality is that all of us who purchased homes in 05/06 overpaid. I mistakenly purchased a home in Scottsdale in April 05, put 30k into upgrading it, and wrote a check at close for almost 25k in July of 07.
We all overpaid. And the market is going to continue to correct downwards. I saw the flood of homes hitting the market in my neighborhood and very quickly put it on Craigs List at 50k less than any other comparable home and sold it without commission. And yes I still lost my 30k in upgrades and had to write a check at close for almost 25k.
You probably did not overpay at the time you bought, given all else that sold in your area, at that time. Generally speaking, in my area, those who bought in 2005/6 are lucky to break even. Most improvements are gifts to the buyer.
What I find fasinating is how many people are trying to make a
jump to a bigger and better home, at a depressed price and plan to use their perception of equity in their existing home, to do so. It's like dogs chasing their tails.
The only saving grace is that homes not priced to this market sell the homes that are priced to sell.
wow, that's rough! Have you had any open houses? Seven showings is nothing in a year. Glad you're using a new agent. A friend of mine has had her house on the market for over a year. The only reason it's not selling is price, and she won't reduce it, so.....
Good luck. I hope things go better for you!
No open houses. We're in a rural area and open houses are mainly considered a big waste of time by both realtors and sellers. They just attract looky-loos who can't afford it anyway.
Ha I can beat that. We are going into our third year on the market. Bought house #2 in April 06 to move into. Put house #1 on the market, just as the market began declining. Now paying 2 mortgages, 2 sets of expenses. Out of desperation, have both houses listed, prices lowered to almost rock bottom (but above a short sale). There doesnt seem to be an answer. We are so stressed and are actually considering just walking away out of desperation.
I'm so sorry. I've heard things are bad in FL. I hope something good happens for you soon.
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wishing you luck!
