Who else has a house on the market?

M

melanalyus

Cathlete
Oh man, am I getting burndt out. Our house has been on the market for over a year. We started at $329K for a waterfront property which is down now to $250K and not moving. :(
Please share with me all your positive stories! We are close to giving up.

~Melanie~


Jadon born 11/23/05
Justin born 1/17/04
Jory born 4/9/94
 
Well, my sister and her husband put their house on the market last Friday and it sold that Sunday. They had 9 viewings between that time. They even got an offer OVER their asking price. There is hope out there. Good luck to you. The right people just haven't come along yet, but they will!

Allison

http://www.picturetrail.com/allisonj90
 
My sister has been trying to sell my mom's house in Vermont since last fall. We think we finally have a serious buyer and the closing is set for the end of June. Unfortunately, there was some winter damage to the roof and furnace, so we won't be getting near what we hoped.
 
Melanie,

We bought our house in northern Maryland in Sept 2005 and put it on the market last June... that didn't go well. We only had it on the market for 6 months, but during that 6 months the housing market went from not great to horrible. We only had about 3 showings in that 6 month period; no offers, no return visits, nothing. At our open house, only one person showed up, and it was another realtor.

We had bought it for $380,000, and we really couldn't list it a whole lot lower than that since we had only had it for 2 years. Our realtor's suggestion was to try a short sale, but what a pain that is!

Since we're still in the house and hating the commute (70 miles one way every day, both of us), we're looking to try to put it on the rental market starting next month... we're looking to try to rent it out for $1600 a month. However, our mortgage is $2800 a month, so we'll be eating a lot of that.

But what are our options? Continue to have a 140-mile roundtrip commute every day and not have a life (not appealing at all) or move away and stop paying our mortgage (not something I feel comfortable with, and it would cause problems at work since DH and I have security clearances that consider financial instability a major red flag).

I'm not sure what state you're in, but the marked in Maryland has just completely bitten the dust.

I feel so deeply for you, being caught in that situation, with no end in sight. I wouldn't blame you for stopping your mortgage on your first house... what are your options? You can't be expected to pay two mortgages forever... that's just totally unreasonable.

Poor Mel. :( I hope it either looks up soon, or that extracating yourself from your first mortgage doesn't totally screw up your credit, etc. Please keep us in the loop, and I'll be praying for you.

MC
 
Thanks for your responses, they mean alot to me. ;)

MC, my new job (at our new house) is 70 miles one way from the house. I've been working 6 ten hour days/week to make these 2 mortgages so I totally know what you mean about commuting! We're making about $4500/mo in mortgages b/w the two so I totally know what you mean. I'd rather foreclose than rent and have to pay $1000/month into it---plus what if they trash the place? Not to mention things like a $2500 tree repair we had a couple weeks ago. Urgh! It's so frustrating!

MC, I'll be praying for you too. Did we go through a pregnancy together? For some reason your screen name sounds familiar...

~Melanie~


Jadon born 11/23/05
Justin born 1/17/04
Jory born 4/9/94
 
Oh Melanie!!
Don't remind me right now!! We have been trying to sell our house for 6 months now - and have lowered the price THREE times to no avail. We finally bought another house, so the two payments stink, especially since we don't even live in one anymore! Ahhhhhhhhhhh

So, you are not alone. May we all sell soon!
 
Gals, I am so sorry! There is hope, though. The right person will come along. :) I have a friends who is having to move out of town and she sold her house 8 days after it was put on the market. It will happen for you eventually.

(((((HUGS TO EVERYBODY)))))

Makes you wonder if they should be putting restrictions on those neighborhoods that pop up all over the place overnight that people are flocking to.

Missy
 
Okay, you guys are depressing me,...not that many people, eh? I was thinking that the numbers would be much higher. I need support! Help me out Catheites!!!!

~Melanie~


Jadon born 11/23/05
Justin born 1/17/04
Jory born 4/9/94
 
For the renting discussion, if you're open to taking a closer look at it, you can sort of write your own ticket there...as well as control WHO you're renting to. Particularly if it's waterfront (not sure how touristy your area is), that could be valuable for travellers/families that need a short term stay.

We have our condo on the market and have never dropped our asking price of $379K- we priced below what other units in the area were going for...not dramatically, but low enough to make it worthwhile.

We also listed it to rent, pricing the rent high enough ($2k, our mortgage is $1100) that if we got an offer there, we'd be making some nice $$ on it in addition to the mortgage.

We just found renters this weekend, and the best part is that they are willing to rent month to month with a 60 day "kickout" clause, in the event that the property sells while they're living there. It's basically like free staging, where our agent will continue to show it, and we're making $$ on it as an investment property in the meantime.

It's a little extra work, but another option if you're open to it.
 
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