Why We Were Able to Sell ...

[Jaded]

Originally Posted by sheri257

It's probably a difficult reality to face. If you paid too much or borrowed too much and would have to take a huge loss or stay in a house you don't want anymore for years ...

... at least we stayed out of trouble and didn't pretend we could pay for anything more than what we could actually afford.

Very true. Today's reality looks very different from five years ago. I think a lot of homeowners now realize what they actually can afford.

Originally Posted by Bideshi

Realtors.

LOL! Too funny!

[sheri257]

Originally Posted by dogmom

Sheri, have you heard anything on your new home up north yet? It's been a few weeks since you made your offer to the bank and I was wondering...glad you got your home sold, that is great...hopefully ours as well, soon...take care

We're supposed to hear in a couple of weeks. Unfortunately it's a short sale which is living up to the it's reputation of taking forever. We're going to do a vacation rental for a couple of months in Monterey and keep looking ...

But we won't be messing around with any short sales again. The only reason we're waiting for this one is that we really like this particular house ...

The good news is comps have fallen even further so the bank should accept our offer. But, of course, you never know ...

[dogmom]

Originally Posted by sheri257

We're supposed to hear in a couple of weeks. Unfortunately it's a short sale which is living up to the it's reputation of taking forever. We're going to do a vacation rental for a couple of months in Monterey and keep looking ...

But we won't be messing around with any short sales again. The only reason we're waiting for this one is that we really like this particular house ...

The good news is comps have fallen even further so the bank should accept our offer. But, of course, you never know ...

Well I will keep my fingers crossed...I thought with a short sale it was already bank approved, but then if you come in below 'asking' it probably takes forever for the bank to ok it. The owners are in limbo, too.

It's just sad that so many homeowners got into such big trouble...but then there's argument both ways...money was easy to get, and i guess the buyers heads spinned with grandeur. Then they took that instant 'equity' and bought toys...At least some of them...I know the short sales that I see online in NorCal, the photos always show a family home, things in it, unlike a foreclosure that's already empty. It makes me sad, it is people after all...

Anyway, caught me feeling melancholy and grateful we are not in that boat...hope you hear soon!
Barb