Selling your Home

[Tom Hendricks]

I need to vent a little. We are trying to sell our house, my wife was offered a job in Syracuse NY. Our house has sat on the market for over 6 months with little to no activity. Our house is listed for $80,000 less then we paid for it. Our house is brand new, we are the first people to own it. We will be in the house two years come this January. We're just so frustrated and there is a possibility that we may loose the job offer.

Anyone else trying to sell your house? Anyone else dealing with this?

Our house

 

[ThunderAeroI]

This probbly wont help much but I know two things.

- Have a second realitor look at the property, and;
- Have a general construction contractor look the property over

Also having an uptodate house inspection is a good thing.

also, "Location: Farmingdale, NY" may be your problem. I also do not see a house in "Location: Farmingdale, NY" that matches your house on the realitor houseing market. So its not listed

 

[Amaris]

Another issue is that since the whole subprime mortgage collapse, lenders are being tight as hell when giving out loans. Even people with good credit are being turned down on reasonably priced properties.

 

[1001001]

Yes we're dealing with our own house situation.

I was asked to move to our corporate headquarters (about 3 hours away), but we can't sell our house. It's $100,000 under water.

We're going to die in this house. This is not where we'd thought we'd be at this point. I guess we shouldn't complain too much. We've both kept our jobs during the recession, and a house is better than no house.

 

[auntiehill]

Could your wife get an apartment and take the job, while you stay and try to sell the place? Or maybe get a new house and rent out the old one until you find a buyer?

 

[Kestra]

Our house has been on the market for over a year at a much, much reduced price from when we bought it. We have moved three times since then and it's a huge drain on our finances.

The worst part is that I really love that house and still miss it. It's a great place to live, just a bad time to sell it.

 

[ancientone51]

Bury a statue of St. Joseph in the front yard. Never tried it, but it is supposed to work.

Good luck.

 

[RoJoHen]

Another issue is that since the whole subprime mortgage collapse, lenders are being tight as hell when giving out loans. Even people with good credit are being turned down on reasonably priced properties.

Yep.

It's not that people don't want to buy your house. It's that the banks won't let them!

 

[boco]

The house where I lived before was on the market for 9months before finding a buyer,had to lower the price with 4o.ooo euro, but it was ok, since the prices were (and still are) going down because of the banks, and had to buy too, so the one bought had a lower price too. Was lucky because stayed in the same city, so didn't had a job problem...
Well, good luck..

 

[JoeZhang]

Another issue is that since the whole subprime mortgage collapse, lenders are being tight as hell when giving out loans. Even people with good credit are being turned down on reasonably priced properties.

Yep.

It's not that people don't want to buy your house. It's that the banks won't let them!

Same in the UK, home ownership is expected to decline significantly over the next five years.

 

[Sephiroth]

find a place to rent out where this new job is, and either try renting your place out or finding someone to take care of the property until it sells

 

[RoJoHen]

I have seen dozens of houses around my my area that have had For Sale signs in the front yard for 2-3 years and still haven't been purchased. I hate to be negative, but you might be in for a longer ride than you were planning.

 

[Squiggy]

The housing market sucks balls now and it will for the next several years. Your home is now worth what "it should be" and when you got it a few years ago it was worth "what it should be" plus 50%.

Supply and demand. Any idiot was able to get a home loan. Demand for homes went through the roof. Prices went with it. Now that it's a lot harder to get a loan (and rightfully so) the demand has dropped off a cliff and prices as well as current values with it.

I'm saying this as a newly minted real estate agent: The "ownership society" mentality is bullshit. Not everyone should get a house. But that was put into everyone's head and now you have a house that's 80 grand upside down.

So, here are your options if you haven't already done so.

• Get an appraisal.
• If you don't like what your realtor is doing, shop around unless you signed an exclusive right-to-sell agreement. In which case you're locked in until said agreement expires. Likewise, you're under no obligation to sell your home. Get a second opinion after your listing expires. However, I don't think you'll be able to find anyone who would list your house for 80,000 more than it is.

 

[Lindley]

My mother has been trying to sell a particular Vermont cabin for 2 years.

 

[RoJoHen]

You could always try renting it out. I don't how far away Syracuse is from where you're currently living, but renting it out would at least allow your wife to take the job while at least being able to continue to pay your mortgage.

 

[Misfit Toy]

I'm in a different boat. Sometime in the next six months I'm going to be putting my mother's house on the market. She passed away last month and I am the executor of the estate. I know it's a down market, but I want to sell the place in an as-is condition. I don't want to spend any money fixing it up - I just want the sale done and over with.

 

[TheSeeker]

We're lucky that the market has stayed pretty strong here in Canada. In fact, I got a handwritten note in my mailbox from a realtor about a month ago asking if I would be interested in selling!

 

[Squiggy]

I'm in a different boat. Sometime in the next six months I'm going to be putting my mother's house on the market. She passed away last month and I am the executor of the estate. I know it's a down market, but I want to sell the place in an as-is condition. I don't want to spend any money fixing it up - I just want the sale done and over with.

My family is in that boat regarding my grandmother's house. My mom said she's just going to auction the place off, which is risky but if no one meets the reserve then no one gets the place.

Sorry to hear about your loss too.

 

[Guartho]

I need to vent a little. We are trying to sell our house, my wife was offered a job in Syracuse NY. Our house has sat on the market for over 6 months with little to no activity. Our house is listed for $80,000 less then we paid for it. Our house is brand new, we are the first people to own it. We will be in the house two years come this January. We're just so frustrated and there is a possibility that we may loose the job offer.

Anyone else trying to sell your house? Anyone else dealing with this?

Our house

What is it listed for? It looks pretty nice. Where I live I could see it bringing 250k, if there's a decent back yard behind it. Our market hasn't depressed as much as some of the bigger ones though.

 

[TheSeeker]

I wish I could get a house that size for 250k around here. I'd be buying today!