Cindy in C-ville Posted July 22, 2011 Share Posted July 22, 2011 It's been on the market since May, which I know isn't a long time. And we've dropped the price so much. It was SUCH a great place for us for 8 1/2 years, but we're ready to close this chapter. Anyone else? Quote Link to comment Share on other sites More sharing options...
Guest momk2000 Posted July 22, 2011 Share Posted July 22, 2011 Not us personally, for we do not have a house to sell, but I definitely see it in our neighborhood. Many homes are for sale and prices are being reduced. I'm so sorry you are going through this right now. :grouphug: Quote Link to comment Share on other sites More sharing options...
Denisemomof4 Posted July 22, 2011 Share Posted July 22, 2011 we've been trying to sell mil's home for a year now. I wish dh could get this responsibility removed from him. I wish it would SELL!!! We had to put three properties on the market within a few months. This is the last one left. PLEASE sell so we can have our lives back! Quote Link to comment Share on other sites More sharing options...
JessieC Posted July 22, 2011 Share Posted July 22, 2011 We would love to sell. Unfortunately we bought near the peak of the market and despite faithfully paying our mortgage every month for 6+ years, we still owe more than we can sell it for. And we can't refinance either, because there's no equity. We're stuck. Quote Link to comment Share on other sites More sharing options...
AngieW in Texas Posted July 22, 2011 Share Posted July 22, 2011 When we moved 8 years ago, we still had our previous house. It was on the market for 11.5 months before it sold, and we ended up selling it for less than we owed on it. At that point, we were just happy to not be making two house payments any more. The market crashed while we were in that house and that's why we were moving - to go to where the jobs were. If I could go back and change things I would have listed it for what we sold it for back at the very beginning rather than starting higher and dropping the price over the course of the year. Quote Link to comment Share on other sites More sharing options...
CalicoKat Posted July 22, 2011 Share Posted July 22, 2011 We would love to sell. Unfortunately we bought near the peak of the market and despite faithfully paying our mortgage every month for 6+ years, we still owe more than we can sell it for. And we can't refinance either, because there's no equity. We're stuck. Yup. This is the market. We talked with a financial planner and got some good advice about how to make it move. It's not fun. But we'll be better off financially if we aim for a deed in lieu or short sale. Quote Link to comment Share on other sites More sharing options...
simka2 Posted July 22, 2011 Share Posted July 22, 2011 The market where we were living in Mo has gone down hill. We have 2 realtors working diligently to sell our house. One is a short sale specialist the other is the highest ranked realtor in Kansas City with this particular realty group. They have managed to get the house under contract TWICE with pre-qualified buyers. Yes, they have been short sales but that is the market. This is the second time the bank has decided not to push through the paper work and we are about to lose the second contract. I am beyond frustrated!!!! I am tired and ready to give up. I cannot even figure out what my ethical responsibility is anymore. :glare: I am starting to loose lots of sleep and the panic attacks are starting. We need to move to a nearby city to cut costs, but I am scared we will not be able to rent anything because our credit is tanking. The whole thing is so upsetting! Quote Link to comment Share on other sites More sharing options...
Mommee & Baba Posted July 22, 2011 Share Posted July 22, 2011 YES! Our house hasn't been on the market but 2 weeks...so I shouldn't be annoyed JUST yet..but we've been working on the house since May to prep it for sale and now it's so hot here that no one wants to even schedule to come see the house..and although I don't blame them I'm really ready to MOVE! I def. need a large dose of...:chillpill: I was REALLY hoping the house would sell super fast so we could get moved and settled before we got too far into our school year because I'm so tired of unpacking school things that we need and repacking when we're done! ugh!! It'll be nice to be moved and settled. We've started school yesterday because I'm trying to plan for us to need atleast 2 weeks off for the drive across the U.S. and the unpacking into the new house and get things back into order. So we've started 3 weeks ahead of schedule because we're not sure when the move will take place and will need some time on both sides to prep. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 I was hoping ours would sell super-fast too. I guess most folks are. And the worst is reading people's comments after they go through. Can't they see that this is an amazing place? http://www.trulia.com/property/3052831701-641-Montei-Dr-Earlysville-VA-22936 Quote Link to comment Share on other sites More sharing options...
Guest momk2000 Posted July 22, 2011 Share Posted July 22, 2011 You have a beautiful home, I hope it will sell quickly for you. Quote Link to comment Share on other sites More sharing options...
leeannpal Posted July 22, 2011 Share Posted July 22, 2011 We are in the same place. Ours is just going on the market, but we moved out last month. Nothing is moving around here. Like a previous poster, we are trying to do a Deed in lieu or a short sale. At this point we are just about breaking even with the house. We have no equity but are not upside down. We can't afford to owe the bank a lot at closing if we do sell the house, and staying in the house is not an option because of going to China in a year. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 You have a beautiful home, I hope it will sell quickly for you. Thank you! Don't you think it's a WONDERFUL place to raise a family? Plenty of room to spread out, fantastic yard, a creek - not too deep ... Quote Link to comment Share on other sites More sharing options...
TN Mama Posted July 22, 2011 Share Posted July 22, 2011 I was hoping ours would sell super-fast too. I guess most folks are. And the worst is reading people's comments after they go through. Can't they see that this is an amazing place? http://www.trulia.com/property/3052831701-641-Montei-Dr-Earlysville-VA-22936 It is a beautiful home. Love the wood floors and spacious bedrooms. Praying it sells quickly. When we put ours on the market I just kept telling myself, "We just need one family..." over and over and well, over again. Quote Link to comment Share on other sites More sharing options...
nono Posted July 22, 2011 Share Posted July 22, 2011 Well since we have 2 houses, and my dh got laid off last week, yeah, it'd be nice if the former place sold. We're in a vacation market though, so literally nothing is selling in under a year. And, then, it's 6 months of he!! to get the closing to actually happen (like Simka notes...that's common around here). So, even if we would get an offer tomorrow, it's a fair bet that we wouldn't close until 2012. Quote Link to comment Share on other sites More sharing options...
JessReplanted Posted July 22, 2011 Share Posted July 22, 2011 3 years. Our house has been on the market for 3 years. :banghead: Quote Link to comment Share on other sites More sharing options...
Janie Grace Posted July 22, 2011 Share Posted July 22, 2011 Cindy, we have some friends moving to C-ville. Can you PM me a link to your listing? N/m, I just saw you posted it. Quote Link to comment Share on other sites More sharing options...
Janie Grace Posted July 22, 2011 Share Posted July 22, 2011 I checked out your link and saw a few things that might be hindering people. The bathroom counter tops look pretty dated. Any chance of replacing those? Also, there are no pictures of the kitchen or dining room. I couldn't tell if the family room with the fireplace is on the main floor or in the basement. There are a ton of outdoor pictures, which are nice, but people are buying the house. There needs to be more pictures of the actual house. The sun porch needs some work also. I would also take down the butterflies of the walls in the one bedroom. Good luck with your house. I agree with these things. The counters and the butterflies especially. I think your price seems great, though, and the house is lovely -- praying it sells soon. (The friends I mentioned want at least 5 acres, sorry.) Quote Link to comment Share on other sites More sharing options...
Irishmommy Posted July 22, 2011 Share Posted July 22, 2011 I couldn't get all the pics to load, but I do agree about the bathroom countertop, but really that should not be a make/break it point in that price range. Love the house, though. I'd certainly consider it if we were moving to that area! We are under contract for our home, but I am cautiously optimistic. I'll certainly feel better when the deal goes through. Quote Link to comment Share on other sites More sharing options...
Sandsam Posted July 22, 2011 Share Posted July 22, 2011 My dh is a realtor. In this market, it is all about price. You are competing with short sales and foreclosures. Be sure your realtor is top notch, and then take his/her advise on how to 'price it to sell'. Other options are to hold and rent, or short sale - and of course there is always the painful foreclosure. Or like many, you just stay put for a year or few. Good luck. Quote Link to comment Share on other sites More sharing options...
CalicoKat Posted July 22, 2011 Share Posted July 22, 2011 The market where we were living in Mo has gone down hill. We have 2 realtors working diligently to sell our house. One is a short sale specialist the other is the highest ranked realtor in Kansas City with this particular realty group. They have managed to get the house under contract TWICE with pre-qualified buyers. Yes, they have been short sales but that is the market. This is the second time the bank has decided not to push through the paper work and we are about to lose the second contract. I am beyond frustrated!!!! I am tired and ready to give up. I cannot even figure out what my ethical responsibility is anymore. :glare: I am starting to loose lots of sleep and the panic attacks are starting. We need to move to a nearby city to cut costs, but I am scared we will not be able to rent anything because our credit is tanking. The whole thing is so upsetting! Your experience is the reason we're trying to avoid the whole short sale situation. The bank is in complete control of the timeline and you don'tget a say. Have you checked into doing a deed in lieu? For a small amount of money the bank pays you for for the deed. We're just beginning this whole process. We've watched my sister & her husband do this too. They've had 3 offers and the bank still won't take it. I think the bank is getting more money from the gov't programs if they've more homes in the short sale process. It's a huge chess game with our money, dreams, and future. Quote Link to comment Share on other sites More sharing options...
Jryanbass Posted July 22, 2011 Share Posted July 22, 2011 Yep! But we can't put ours on the market until the renters move out, at the end of August. I am hoping it sells quickly, we had it on the market 2 years ago, and after 200+ showings in 6 months with 1 contract that fell through,we took it down. This time, we are going in with a low price, fixed EVERYTHING that was on the inspection report from that one contract, put in new stainless appliances and new carpet. I am praying it sells in <30 days. Quote Link to comment Share on other sites More sharing options...
i.love.lucy Posted July 22, 2011 Share Posted July 22, 2011 I was hoping ours would sell super-fast too. I guess most folks are. And the worst is reading people's comments after they go through. Can't they see that this is an amazing place? http://www.trulia.com/property/3052831701-641-Montei-Dr-Earlysville-VA-22936 Swoon!!! Oh, the floors. The yard! My husband would love that place!!! I think selling in 60 or 90 days IS the new fast sale. Good luck to you. Its a gorgeous home! Quote Link to comment Share on other sites More sharing options...
NoPlaceLikeHome Posted July 22, 2011 Share Posted July 22, 2011 My dh is a realtor. In this market, it is all about price. You are competing with short sales and foreclosures. Be sure your realtor is top notch, and then take his/her advise on how to 'price it to sell'. Other options are to hold and rent, or short sale - and of course there is always the painful foreclosure. Or like many, you just stay put for a year or few. Good luck. :iagree:Price is critical. Is it at the a competitive price compared to comparables in your market? Quote Link to comment Share on other sites More sharing options...
mama2cntrykids Posted July 22, 2011 Share Posted July 22, 2011 We sold our house last year. We put it on the market in Nov. 2009 and it sold April 2010. It was sooo hard waiting. Esp. since dh was done for work all week (that's why we were selling, so we could all be together). I wish you good fortune with selling. I *know* how hard it is to wait! Quote Link to comment Share on other sites More sharing options...
Celia Posted July 22, 2011 Share Posted July 22, 2011 Wow! I love your house! When I am, that would be a million dollar home, at least. We're also wanting to sell. We rent out our basement to make the mortgage payments at the moment, and I don't love doing that. If we could knock 50,000 off our mortgage, it would make a big difference to our budget. Plus our home is older and there's some big bills coimng down the line that we can't handle. I feel so badly for all of you trying to sell in such a miserable market. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted July 22, 2011 Share Posted July 22, 2011 (edited) Thank you! Don't you think it's a WONDERFUL place to raise a family? Plenty of room to spread out, fantastic yard, a creek - not too deep ... It is very nice! But, why no pics of the kitchen? People rely a lot on photos of the house. I have been looking at houses recently for my sister. I don't even send her listings without photos of the kitchen. eta: Ah, I see pics of the kitchen now in the virtual tour. I would add pics of the kitchen and your master suite to the main set of pictures. :) Edited July 22, 2011 by Mrs Mungo Quote Link to comment Share on other sites More sharing options...
Excelsior! Academy Posted July 22, 2011 Share Posted July 22, 2011 We are supposed to sign our papers today and have our first open house on Sunday. We are pricing below market. Hopefully it will sell right away. Quote Link to comment Share on other sites More sharing options...
black_midori Posted July 22, 2011 Share Posted July 22, 2011 Is it only 4 bedrooms?? It is a beautiful, huge house - maybe some people looking in that size range are looking for a little more in the way of bedrooms, though?? If it were on 5-10 acres, I would LOVE to move there!! <g> ah well... It also made me raise an eyebrow - "exterior renovations"?? Sounds like a money-pit waiting to happen, listed that way... what sort of things need to be fixed on the outside? We bought this one 3 years ago hoping to not put much into it - and then we right away had to fix leaks, paint & restucco walls (behind the bushes we took down it turned out to be horrible), replace AC, etc. I wouldn't wish that on anyone! Quote Link to comment Share on other sites More sharing options...
ourjourney Posted July 22, 2011 Share Posted July 22, 2011 We're putting ours on the market this week! We just made an offer on another house. I am praying everything works out. But considering houses aren't moving, I don't see how they will. :( Quote Link to comment Share on other sites More sharing options...
AnthemLights Posted July 22, 2011 Share Posted July 22, 2011 I was hoping ours would sell super-fast too. I guess most folks are. And the worst is reading people's comments after they go through. Can't they see that this is an amazing place? http://www.trulia.com/property/3052831701-641-Montei-Dr-Earlysville-VA-22936 Wow, Cindy, that is an amazing place you've got there. I would buy it just for the yard :D Good luck on selling it. Quote Link to comment Share on other sites More sharing options...
Margo out of lurking Posted July 22, 2011 Share Posted July 22, 2011 (edited) Cindy, the photos are gorgeous. I too wondered about the kitchen. You definitely should have a photo of that in the listing. And the "exterior renovations," what does that mean? I'd read a red flag. But other than that, it looks great. I compared housing costs with my area of VA and yours. Yours is more expensive. We've had three houses on our street up for sale for a year, each dropping $40K before selling. Our neighbors' home is similar to yours in age, outward appearance, interior, size, no garage, but on a smaller lot, unfinished basement. It just sold for ~$320K. We are closer to our town that you are, but that's doesn't seem to be a negative around here. Based on what I see, your house is priced to sell. You just have to wait for that ONE buyer. I know this was a great move for you, but I admit to being a little disappointed. I was always hoping that we'd have a chance to meet up at a larger function! ETA: The photos don't do it justice. The tour is much more flattering. Edited July 22, 2011 by Kristine out of lurking Quote Link to comment Share on other sites More sharing options...
FairProspects Posted July 22, 2011 Share Posted July 22, 2011 :iagree:Price is critical. Is it at the a competitive price compared to comparables in your market? But how on earth can you compete with foreclosures? My friend tried to and she would have had to drop her price $100,000 just to match the foreclosure next door. The only way to do that would be to own the house you are trying to sell outright and be willing to take a huge bath. We are considering moving up in house in the next few years, but we will have to sit tight to sell our starter home until we don't have so many foreclosures to compete with. Its just not possible and we are not even technically upside down yet. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 I'm sorry it's taking awhile for your house to sell. I checked out your link and saw a few things that might be hindering people. The bathroom counter tops look pretty dated. Any chance of replacing those? Also, there are no pictures of the kitchen or dining room. I couldn't tell if the family room with the fireplace is on the main floor or in the basement. There are a ton of outdoor pictures, which are nice, but people are buying the house. There needs to be more pictures of the actual house. The sun porch needs some work also. I would also take down the butterflies of the walls in the one bedroom. Good luck with your house. Thanks for the input. The bathroom with the pink counters definitely needs updating. There *were* pictures of the kitchen and dining room. I don't know where those are now. Hmmm... Sun porch has been painted and screened since these pics and the butterflies are down. Actually, we've moved and so the house is empty. We can't afford to do any more work. In reality, the outside (siding, roof, and windows) needs A LOT of work - probably about 50K if someone wants to do it right. And we can't do a bit of it. Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted July 22, 2011 Share Posted July 22, 2011 We would love to sell. Unfortunately we bought near the peak of the market and despite faithfully paying our mortgage every month for 6+ years, we still owe more than we can sell it for. And we can't refinance either, because there's no equity. We're stuck. :iagree:This is us, Jessy. We bought five years ago (in New Jersey) and have days when we think, "We'll never get out." :glare: But I like to look on the bright side when possible, and the bright side of having this home is that we have a home. I am so, so, so incredibly thankful for this home, as small, old, dumpy, and troubled as it is, I am thankful for it. We live in a rough, depressed, falling-apart neighborhood. Nothing pretty here, except the kids. ;) But this is our home. And home is partly what you make it. We can make good memories here, have a good life inside our little abode. And you never know, things might swing back up, in spite of the gloomy predictions. Plus, I can clean the whole house in less than 20 minutes. :D Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 3 years. Our house has been on the market for 3 years. :banghead: Ugh. I'm so sorry. I can't even imagine how frustrating this is. Are you still living in it? Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 I agree with these things. The counters and the butterflies especially. I think your price seems great, though, and the house is lovely -- praying it sells soon. (The friends I mentioned want at least 5 acres, sorry.) Boo. It's 2 1/2 CLEARED acres, and plays out large ... :) :) :) Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 My dh is a realtor. In this market, it is all about price. You are competing with short sales and foreclosures. Be sure your realtor is top notch, and then take his/her advise on how to 'price it to sell'. Other options are to hold and rent, or short sale - and of course there is always the painful foreclosure. Or like many, you just stay put for a year or few. Good luck. We do love our realtor. She moves a lot of homes and has been in the business for years. We are already out of the home b/c of dh's job. I am just praying we don't have to foreclose. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Swoon!!! Oh, the floors. The yard! My husband would love that place!!! I think selling in 60 or 90 days IS the new fast sale. Good luck to you. Its a gorgeous home! Oh, thank you. We put in the floors ourselves - sanding, staining, the whole business. I did break out in hives in the midst of the process, but it was worth it. Quote Link to comment Share on other sites More sharing options...
mommaduck Posted July 22, 2011 Share Posted July 22, 2011 I'm sorry you're having such a hard time selling. Truth is, many people are having a hard time all around and can't afford a house...especially not a house that size, that price, AND in need of work on top of it. I do hope someone comes along for you. Have you considered a lease to own option? We can't get a loan, but we have found a few lease/rent to own options (two that would have still been difficult to get into as they are asking for a huge down payment and huge monthly rents and two that we know personally, we either take a smaller house or wait for a tenancy to be up with the other). Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Wow! I love your house! When I am, that would be a million dollar home, at least. We're also wanting to sell. We rent out our basement to make the mortgage payments at the moment, and I don't love doing that. If we could knock 50,000 off our mortgage, it would make a big difference to our budget. Plus our home is older and there's some big bills coimng down the line that we can't handle. I feel so badly for all of you trying to sell in such a miserable market. Thank you!!! Quote Link to comment Share on other sites More sharing options...
Liz CA Posted July 22, 2011 Share Posted July 22, 2011 Yup, same here. We've been trying to sell since May as well and if it ever sells there will likely be no profit to speak of. Dh and I joke that -should it sell - we will splurge on a really nice cup of coffee... Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted July 22, 2011 Share Posted July 22, 2011 I was hoping ours would sell super-fast too. I guess most folks are. And the worst is reading people's comments after they go through. Can't they see that this is an amazing place? http://www.trulia.com/property/3052831701-641-Montei-Dr-Earlysville-VA-22936 Oh, wow, I love your house! My husband came in and said, "Where is THAT?" We would love to live in that Charlottesville VA area someday. Your property would cost at least $600,000-$1,000,000 here in New Jersey. Amazing. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Is it only 4 bedrooms?? It is a beautiful, huge house - maybe some people looking in that size range are looking for a little more in the way of bedrooms, though?? If it were on 5-10 acres, I would LOVE to move there!! <g> ah well... It also made me raise an eyebrow - "exterior renovations"?? Sounds like a money-pit waiting to happen, listed that way... what sort of things need to be fixed on the outside? We bought this one 3 years ago hoping to not put much into it - and then we right away had to fix leaks, paint & restucco walls (behind the bushes we took down it turned out to be horrible), replace AC, etc. I wouldn't wish that on anyone! We can only list it as four bedrooms, but the basement is divided between a family room and what we used for our boys' room. It does have a closet and a full bath, but there is not a large enough window for it to be considered as a bedroom. And the exterior renovations are siding, windows, and roof. Nothing's leaking, it's just time. And the windows have the cloudy humidity thing going. We're estimating 50k for a top-notch fix. Structurally, it's in excellent shape. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Yup, same here. We've been trying to sell since May as well and if it ever sells there will likely be no profit to speak of. Dh and I joke that -should it sell - we will splurge on a really nice cup of coffee... :) Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Cindy, the photos are gorgeous. I too wondered about the kitchen. You definitely should have a photo of that in the listing. And the "exterior renovations," what does that mean? I'd read a red flag. But other than that, it looks great. I compared housing costs with my area of VA and yours. Yours is more expensive. We've had three houses on our street up for sale for a year, each dropping $40K before selling. Our neighbors' home is similar to yours in age, outward appearance, interior, size, no garage, but on a smaller lot, unfinished basement. It just sold for ~$320K. We are closer to our town that you are, but that's doesn't seem to be a negative around here. Based on what I see, your house is priced to sell. You just have to wait for that ONE buyer. I know this was a great move for you, but I admit to being a little disappointed. I was always hoping that we'd have a chance to meet up at a larger function! ETA: The photos don't do it justice. The tour is much more flattering. Oh, Kristine, thanks. It has been quite a ride - starting with our first trip to Ukraine in the spring of 2008. Exterior is roof, siding, and windows - nothing that *has* to be done right away, but I would want these things done right away if I were moving in. Right after I sat on the deck with a glass of wine watching the summer deer meander up to the peach trees and help themselves. Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 Oh, wow, I love your house! My husband came in and said, "Where is THAT?" We would love to live in that Charlottesville VA area someday. Your property would cost at least $600,000-$1,000,000 here in New Jersey. Amazing. Come on down! Charlottesville is a great place to live! Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted July 22, 2011 Share Posted July 22, 2011 I'm sorry it's taking awhile for your house to sell. I checked out your link and saw a few things that might be hindering people. The bathroom counter tops look pretty dated. Any chance of replacing those? Also, there are no pictures of the kitchen or dining room. I couldn't tell if the family room with the fireplace is on the main floor or in the basement. There are a ton of outdoor pictures, which are nice, but people are buying the house. There needs to be more pictures of the actual house. The sun porch needs some work also. I would also take down the butterflies of the walls in the one bedroom. Good luck with your house. We thought the house looked perfect. :confused: The counter tops did not look dated. We did see photos of the kitchen and dining room. The butterflies are wonderful. :confused: Quote Link to comment Share on other sites More sharing options...
simka2 Posted July 22, 2011 Share Posted July 22, 2011 Your experience is the reason we're trying to avoid the whole short sale situation. The bank is in complete control of the timeline and you don'tget a say. Have you checked into doing a deed in lieu? For a small amount of money the bank pays you for for the deed. We're just beginning this whole process. We've watched my sister & her husband do this too. They've had 3 offers and the bank still won't take it. I think the bank is getting more money from the gov't programs if they've more homes in the short sale process. It's a huge chess game with our money, dreams, and future. This is what is so incredibly frustrating!!! It seems as if the bank is forcing us towards foreclosure. The house appraises around 200,000, we owe around 170,000 and the offers are coming aroun 155,000 and the bank will not budge. On one hand they have told us to stop paying our mortgage, we definately qualify for a short sale, they don't want to foreclose, blah blah blah......and then nothing! And it is not as if my dh and the realtors are not calling, filling, and faxing constantly. After the last issue our realtors reported the bank to the FHA people and still we are being stonewalled. :glare: Deed in lieu is the next step! Quote Link to comment Share on other sites More sharing options...
Cindy in C-ville Posted July 22, 2011 Author Share Posted July 22, 2011 This is what is so incredibly frustrating!!! It seems as if the bank is forcing us towards foreclosure. The house appraises around 200,000, we owe around 170,000 and the offers are coming aroun 155,000 and the bank will not budge. On one hand they have told us to stop paying our mortgage, we definately qualify for a short sale, they don't want to foreclose, blah blah blah......and then nothing! And it is not as if my dh and the realtors are not calling, filling, and faxing constantly. After the last issue our realtors reported the bank to the FHA people and still we are being stonewalled. :glare: Deed in lieu is the next step! Yep. Our house appraised at 425K a couple of years ago. We're almost down to what we bought it for 9 years ago. And we made tons of upgrades in the course of these 9 years. I've heard that the banks don't want all of these houses that are on the brink of foreclosure and so they'll give you time to sell it as long as you are acting in good faith, but I'm not sure I believe that... We're committed to doing what we can, and we don't want to wreck our credit, but it's not looking good. Quote Link to comment Share on other sites More sharing options...
Alyeska Posted July 22, 2011 Share Posted July 22, 2011 Yep. We are in the same boat. We have been listed since March 1. And we will lose money by selling at our ridiculously low price. But we are ready to move on. I am not expecting it to sell anytime soon. We had a buyer whose financing fell through. And we have had 8 people offer to buy our house if we will owner finance, but we won't (we can't take the risk). What that tells me is that people WANT to buy but banks aren't lending. Quote Link to comment Share on other sites More sharing options...
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