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There are TWO offers on the other house in our neighborhood. Trying to remind myself that this is a good thing: it means our competition is gone AND that there's a lot of interest in this neighborhood/type of house/price range. But it's hard not to have hurt feelings.

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There are TWO offers on the other house in our neighborhood. Trying to remind myself that this is a good thing: it means our competition is gone AND that there's a lot of interest in this neighborhood/type of house/price range. But it's hard not to have hurt feelings.

 

:grouphug: Aww....that would be hard. Just look at the bright side. That house might be gone by tomorrow and MAYBE the other potential buyer will come to your home. Maybe??

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There are TWO offers on the other house in our neighborhood. Trying to remind myself that this is a good thing: it means our competition is gone AND that there's a lot of interest in this neighborhood/type of house/price range. But it's hard not to have hurt feelings.

 

If this house is similar to yours, and it sounds like it is, I'd take this as a good sign. It means people are liking the house and neighborhood. And maybe, just maybe, the losing party will come take another look at your house.

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:grouphug: Aww....that would be hard. Just look at the bright side. That house might be gone by tomorrow and MAYBE the other potential buyer will come to your home. Maybe??

 

If this house is similar to yours, and it sounds like it is, I'd take this as a good sign. It means people are liking the house and neighborhood. And maybe, just maybe, the losing party will come take another look at your house.

 

I know this is a difficult situation -- but it will work to your advantage. You need them OUT OF THE WAY! We needed the home across the road from us out of the way -- they settled last week and we are so relieved they are out of the way.

 

Hang in there -- it is going to happen.

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I'm going to crash your thread with a house-BUYING vent.

 

I have some very specific parameters since the home is for some elderly relatives who need big open spaces, a single story, and to be within rolling/walking distance of homes already belonging to our family. I'm limited to one neighborhood of about 30 homes, not all of which fit my criteria.

 

One house rejected my all-cash, no-contingencies, I'll cover all closing costs plus my own realtor's fees, as-is condition (maybe $25K worth of repairs, plus some updating), close-whenever-you-want-I'm-totally-flexible, offer because it was $15K under their asking price (the cost of installing a much- and immediately-needed well) . Both prices were within reason, mine at the lower end and theirs at the higher end. They didn't budge and I walked away; it was a good house, but again - I wasn't going to settle. It was a FSBO and there was no third, detached party to rationalize with them. It's been 6 months and they contacted me today to see if I had changed my mind. They can't get anyone in, even though they've lowered their price to BELOW my original offer. They've lost out on two other homes-to-buy because of contingency clauses related to the house they're trying to sell.

 

Another house went on the market two weeks ago. They're subdividing the property, one lot is the part for sale and the other will be theirs to build a new house on. It looks perfect, and it's enough land (3 acres) that we can build an additional house or even one larger house to accommodate our growing herd of elders ;) :D Unfortunately, in the past two weeks they've refused showings. Why??! No reason given.

 

I'm tired of the house-shopping. I have cash. I am willing to overpay for the neighborhood I need. I'll take an old house that needs repairs or remodeling. I have no other home to sell first, or financing to secure. I can rush a closing or stall upwards of a year before closing (or close quick and rent-back). I'm such an easy buyer! I'm limiting myself to one neighborhood, so I'm even a desperate buyer LOL.

 

I feel better, thanks :blush:

 

This thread was good for me to read. It gave me good insight into what I, as a buyer, can do to make the whole frustrating process better for the seller's side, too. I wish all of us a change in luck, and good fortune in our housing adventures.

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I wish all of us a change in luck, and good fortune in our housing adventures.

 

I'm sorry you've had such an awful time -- it would be great if buyers and sellers who are both proceeding in good faith could somehow find each other! We've had it happen a couple of times.

 

I agree with you -- I wish all of us will experience a change in the right direction and a change in what wwe have experienced so far.

 

Best best wishes to you! I hope it all works out soon and works out the way you need it to!!!!!:)

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You guys are making me afraid to EVER sell our not-quite-right-for-us house! (Not in a frivolous way . . .it's two-story and we have a child in a wheelchair.) If we do get brave, fix up, and list I think it's in the interest of my emotional health to not look at a single 'next house' until ours is no-turning-back sold. I'm exhausted for all of you. I don't think I can live through the process without ending up in an asylum!

 

No doubt the process is very unpleasant. I do believe the key to a quick sale is pricing, though. Price as low as you can stand, below other comps so that your house is the best bargain for the price. We only took 12 days to sell, and two days after we dropped our price $10,000 we sold. I am convinced that it is the price reduction that did it.

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No doubt the process is very unpleasant. I do believe the key to a quick sale is pricing, though. Price as low as you can stand, below other comps so that your house is the best bargain for the price. We only took 12 days to sell, and two days after we dropped our price $10,000 we sold. I am convinced that it is the price reduction that did it.

 

I agree with you, but I have seen properties at an absolute rock bottom give away price sit here for months -- I think 'appeal' factors in, as does inventory and 'what buyers want' - and heavens knows, I cannot put my finger on THAT.;)

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I'll join in on the pity party.

 

Here is our listing. http://www.realtor.com/realestateandhomes-detail/3705-Wedghill-Way_Fort-Worth_TX_76133_M79021-14193?source=web

 

Thankfully we are no longer living in it, so I don't have to deal with the constant upkeep while showing.

 

My gripe: The people who complain about it needing some updating. Why oh why are you even looking in that neighborhood if you aren't prepared for an older home? :confused:

 

I think it looks lovely! I love older homes, though....most anything (or at least anything in our price range) built after 1990 feels wrong to me. Not BAD, just not right for us. Not homey.

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I'll join in on the pity party.

 

Here is our listing. http://www.realtor.com/realestateandhomes-detail/3705-Wedghill-Way_Fort-Worth_TX_76133_M79021-14193?source=web

 

Thankfully we are no longer living in it, so I don't have to deal with the constant upkeep while showing.

 

My gripe: The people who complain about it needing some updating. Why oh why are you even looking in that neighborhood if you aren't prepared for an older home? :confused:

 

 

Ok, I oogled your photos and drooled all over my laptop. But I'm confused. What needs updating? I can't find anything a couple of gallons of paint and elbow grease couldn't take care of (and that's only if you like white cabinets in the kitchen). If we were looking in FW, I'd jump on your house. Man alive, do you really have that many cabinets in your kitchen? And your breakfast nook-oh baby!. Your house has great bone structure and looks well maintained. Best of luck to you!

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Ok, I oogled your photos and drooled all over my laptop. But I'm confused. What needs updating? I can't find anything a couple of gallons of paint and elbow grease couldn't take care of (and that's only if you like white cabinets in the kitchen). If we were looking in FW, I'd jump on your house. Man alive, do you really have that many cabinets in your kitchen? And your breakfast nook-oh baby!. Your house has great bone structure and looks well maintained. Best of luck to you!

 

Well, we don't have the granite counter tops (it is white formica) and the bathrooms are dated. But everything else is pretty fixable with paint, I agree. I have decided that the vast majority of people can't envision ANY kind of changes in a house, and if they don't immediately love every single thing about it, they check it off their list. So many people get sucked into the shoddily built newer homes with the bling. Our house, while slightly dated, is sturdy, well-built, and will still be that way when their 2012 model home is falling to pieces.

 

I LOVED that kitchen. I miss it. My kitchen now is about 1/4 the size. I wish you were in FW! That house also had unbelievable amounts of storage space. There were cabinets in the laundry room, cabinets in the kitchen (and the space above the cabinets had concealed cabinet storage), and cabinets all along the back hallway. Not to mention the closets everywhere AND walk in attic storage on both ends of the house.

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I agree with you, but I have seen properties at an absolute rock bottom give away price sit here for months -- I think 'appeal' factors in, as does inventory and 'what buyers want' - and heavens knows, I cannot put my finger on THAT.;)

 

Yes, I agree. We did a huge amount of updating in our house and no doubt that helped it move quickly also, but we lost a LOT of money by doing it. Not too many people want fixer uppers or houses where they have to change too many things to get it up to date.

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We submitted our offer yesterday on the foreclosure, and we're supposed to hear back by 5 today. We went in pretty low; I'll be (pleasantly) shocked if they just take it; probably they'll counter offer.

 

If we get that, we do another price drop here before the weekend and hope it sells super fast. Before my agent has a chance to talk me into spending a bunch of money sodding my (wooded, completely shaded) backyard. She came over yesterday and made a bunch of suggestions, but I feel like we're just wildly guessing as to what exactly made the buyers pick the other house over ours. We haven't gotten much specific feedback at all, but what we have gotten has mentioned price as the problem, so I'd just as soon go low and let THEM try to get green stuff to grow under our millon oaks and hickories.

 

anyway, I feel like we're due for a good news day, for a change. Let's hope I'm right!

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How's this for a fun snag? My father-in-law is financing the loan on the foreclosure, so there's no finance contingency....it is, as far as the bank is concerned, a cash sale. But they still want to see proof of funds from FIL...bank statement or investment papers or whatever. Catch is...he's in AUSTRALIA for the week. Ugh. So this will be fun to try to deal with while we worry that another offer will come in.

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How's this for a fun snag? My father-in-law is financing the loan on the foreclosure, so there's no finance contingency....it is, as far as the bank is concerned, a cash sale. But they still want to see proof of funds from FIL...bank statement or investment papers or whatever. Catch is...he's in AUSTRALIA for the week. Ugh. So this will be fun to try to deal with while we worry that another offer will come in.

 

Ugh, talk about timing. Hopefully you can get things straightened out.

 

I'm really wishing we could kick everything into high gear and get the house listed today. With all this warm weather our daffodils are popping up and they look so cheery. If someone is coming by I'd rather they see the row of bright flowers. We just mow them after they all bloom, so there isn't an intimidating flower bed for buyers to contend with. Our flowering trees will be next. All the things that make the house look nice are going to be gone by the time we get things patched and painted!

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We submitted our offer yesterday on the foreclosure, and we're supposed to hear back by 5 today. We went in pretty low; I'll be (pleasantly) shocked if they just take it; probably they'll counter offer.

 

If we get that, we do another price drop here before the weekend and hope it sells super fast. Before my agent has a chance to talk me into spending a bunch of money sodding my (wooded, completely shaded) backyard. She came over yesterday and made a bunch of suggestions, but I feel like we're just wildly guessing as to what exactly made the buyers pick the other house over ours. We haven't gotten much specific feedback at all, but what we have gotten has mentioned price as the problem, so I'd just as soon go low and let THEM try to get green stuff to grow under our millon oaks and hickories.

 

anyway, I feel like we're due for a good news day, for a change. Let's hope I'm right!

 

Just be as patient as you can. Back 20 yrs ago (back in the day when people were insisting on granite counter tops, etc. and the last time we sold a house) realtors used to say it sometimes takes time to get just the right person to come through the house. And it's often quite unexpected what will cause someone to go "this is the one!". With that house it was the fact that my husband left out his bass guitar and the husband looking at the house was a drummer in a band. Go figure.

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Ugh, talk about timing. Hopefully you can get things straightened out.

 

I'm really wishing we could kick everything into high gear and get the house listed today. With all this warm weather our daffodils are popping up and they look so cheery. If someone is coming by I'd rather they see the row of bright flowers. We just mow them after they all bloom, so there isn't an intimidating flower bed for buyers to contend with. Our flowering trees will be next. All the things that make the house look nice are going to be gone by the time we get things patched and painted!

 

I was thinking the same thing here at my house. I'd like to get it on the market before the weeds start overproducing!! ;)

 

We're still aiming for the end of this week. Anything left undone can easily get done before the home inspection.

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Just be as patient as you can. Back 20 yrs ago (back in the day when people were insisting on granite counter tops, etc. and the last time we sold a house) realtors used to say it sometimes takes time to get just the right person to come through the house. And it's often quite unexpected what will cause someone to go "this is the one!". With that house it was the fact that my husband left out his bass guitar and the husband looking at the house was a drummer in a band. Go figure.

 

I know; you're right. I keep thinking families with young kids will appreciate our house more; it sounds like we've mostly been getting older people looking to downsize (downsizing into a four bedroom house seems weird to me, but whatever. It does have a big master on the main level, so maybe people like that). And we have a piano AND a guitar in plain sight, so we have the musician angle covered ;)

 

TWO showings this afternoon! An unexpected surprise on a Tuesday. Fingers crossed.

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Ugh, talk about timing. Hopefully you can get things straightened out.

 

I'm really wishing we could kick everything into high gear and get the house listed today. With all this warm weather our daffodils are popping up and they look so cheery. If someone is coming by I'd rather they see the row of bright flowers. We just mow them after they all bloom, so there isn't an intimidating flower bed for buyers to contend with. Our flowering trees will be next. All the things that make the house look nice are going to be gone by the time we get things patched and painted!

 

Aww...you'll get there! I was so anxious to get ours up the week before we listed....our agent called to say the carpet install had to be pushed back and I was in tears. I felt like we'd NEVER be finished.

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I know; you're right. I keep thinking families with young kids will appreciate our house more; it sounds like we've mostly been getting older people looking to downsize (downsizing into a four bedroom house seems weird to me, but whatever. It does have a big master on the main level, so maybe people like that). And we have a piano AND a guitar in plain sight, so we have the musician angle covered ;)

 

TWO showings this afternoon! An unexpected surprise on a Tuesday. Fingers crossed.

 

Woohoo!! I hope one is THE ONE.

 

I realize I had a major typo in my previous post. It should have said "back in the day when people were NOT insisting on granite counters" That is all new territory for me.

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How's everyone doing?

 

We got everything together to finally submit our offer, then heard back the next day (yesterday) that there was another offer. boo! So we resubmitted with the best we can do (still a great deal if we get it...but the best we can do is a good bit under asking, so....) We were hoping to hear back today, but nothing.

 

Another showing tonight! So we're getting traffic at least...hope it starts turning into offers soon!

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How's everyone doing?

 

We got everything together to finally submit our offer, then heard back the next day (yesterday) that there was another offer. boo! So we resubmitted with the best we can do (still a great deal if we get it...but the best we can do is a good bit under asking, so....) We were hoping to hear back today, but nothing.

 

Another showing tonight! So we're getting traffic at least...hope it starts turning into offers soon!

 

Woohoo on the showing. That is a very positive sign.

 

We made the final push today to get the house photo ready. Pictures will be taken tomorrow. Whew! I'm pooped. I was at the house all day with hubby and went back again after dinner.

 

I can't believe how much better the deck looks after power washing. It's amazing. I thought it was doomed for the junk heap too.

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How's everyone doing?

 

We got everything together to finally submit our offer, then heard back the next day (yesterday) that there was another offer. boo! So we resubmitted with the best we can do (still a great deal if we get it...but the best we can do is a good bit under asking, so....) We were hoping to hear back today, but nothing.

 

Another showing tonight! So we're getting traffic at least...hope it starts turning into offers soon!

 

 

Still here. Agent has all the paperwork so as soon as DH makes up his mind about replacing some flooring in the entryway (current parquet has lots of missing pieces and is a tripping hazard), we'll get a sign in the yard. Interior painting is finished and carpet will be cleaned next week.

 

Question for everybody: Which would look better-ceramic tile or hardwood flooring in an foyer? Agent can have tile installed for around $400. Hubby wants hardwood floors, which will require he and his dad going down in 3 weeks to install it over one weekend. While that sounds cheaper, the costs (including gas and time away from a stressed out wife) would be about $600. Personally, I vote for the tile. I think it will look nice, be easy to maintain, and DH won't have to go down again.

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Still here. Agent has all the paperwork so as soon as DH makes up his mind about replacing some flooring in the entryway (current parquet has lots of missing pieces and is a tripping hazard), we'll get a sign in the yard. Interior painting is finished and carpet will be cleaned next week.

 

Question for everybody: Which would look better-ceramic tile or hardwood flooring in an foyer? Agent can have tile installed for around $400. Hubby wants hardwood floors, which will require he and his dad going down in 3 weeks to install it over one weekend. While that sounds cheaper, the costs (including gas and time away from a stressed out wife) would be about $600. Personally, I vote for the tile. I think it will look nice, be easy to maintain, and DH won't have to go down again.

 

IMHO, both will look nice, so do what is cheapest and easiest.

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Still here. Agent has all the paperwork so as soon as DH makes up his mind about replacing some flooring in the entryway (current parquet has lots of missing pieces and is a tripping hazard), we'll get a sign in the yard. Interior painting is finished and carpet will be cleaned next week.

 

Question for everybody: Which would look better-ceramic tile or hardwood flooring in an foyer? Agent can have tile installed for around $400. Hubby wants hardwood floors, which will require he and his dad going down in 3 weeks to install it over one weekend. While that sounds cheaper, the costs (including gas and time away from a stressed out wife) would be about $600. Personally, I vote for the tile. I think it will look nice, be easy to maintain, and DH won't have to go down again.

 

I'd prefer hardwood, personally, but it's not a strong preference, and I'm sure there are plenty of people out there who would prefer tile....so I say go with what's easiest for you!

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I just want to sit down and have a good cry. I'm really quite stressed out.

 

So... here's what is happening.

 

I've been at the house everyday this week trying to get the house photo ready. Photographer was coming on Friday. It was slightly warm, but humid on Thurs. We had the doors open working in and out so I didn't turn on the A/C. When I went back later in the evening, to do more work, I noticed a strange odor. The next morning I went back to do a final few things and the odor was MUCH worse. I tried to find the source and it's either the newly refinished hardwood floors or the newly cleaned carpet. I've used this co. before for carpet cleaning and never had that smell. Anyway, it was supposed to be hot and humid so I turned on the a/C hoping that getting the humidity out of the house would help. It's only on the main floor and carpets were cleaned upstairs too. So perhaps it's the hardwood floor. :confused:

 

Went back today and the smell is still there. :cursing: It's supposed to be rainy for the next day and then be cool but nice. I'll keep the windows open.

 

Okay, so our realtor told me on Weds. the photographer would come on Friday. Got it all ready. Then get a text on Thurs. evening by realtor asking if we wanted to stage the house. Dh and I discussed and I txted her back on Friday that we did want to get 2 rooms staged: the family room and the dining room. She set up an appt. with a stager for today. THEN she txts me back and says "Let me know as soon a possible what you decide because the photographer can only come next Monday or Tuesday!!???" Ugh.

 

So I meet with the professional stager and there has been some misunderstanding. She starts going through the whole house critiquing everything. Change paint here, fix that there, replace this light flixture..yada,yada, yada. I'm exhausted. I'm tired of working on the house to get it ready. I *thought* we were at the end stage of this part. Besides, I hired her to stage 2 rooms - not to go through the house and tell me stuff I need to change/fix. We've been through that. I told her my realtor should have had us meet about 6 weeks ago, because we had just spent the last 6 weeks preparing and the house for market. I feel like the work will never get done if I listen to these people all the time.

 

Anyway, thanks for letting me vent. I didn't sleep well last night and I know my teariness is due in part because of that.

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So I meet with the professional stager and there has been some misunderstanding. She starts going through the whole house critiquing everything. Change paint here, fix that there, replace this light flixture..yada,yada, yada. I'm exhausted. I'm tired of working on the house to get it ready. I *thought* we were at the end stage of this part. Besides, I hired her to stage 2 rooms - not to go through the house and tell me stuff I need to change/fix. We've been through that. I told her my realtor should have had us meet about 6 weeks ago, because we had just spent the last 6 weeks preparing and the house for market. I feel like the work will never get done if I listen to these people all the time.

 

 

 

:grouphug:

 

Maddening, isn't it? Our agent seemed to think our house looked great a few weeks ago...now after 4 weeks without an offer, she suddenly has 400 new things for us to change. I know it's her job, and she's trying to help, but it's hard not to feel defensive and judged and....overwhelmed.

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STILL no word from the bank re: our offer. Our agent keeps e-mailing the agent who's handling the listing for them, and he just keeps saying, "nothing yet" and then finding some new thing that's wrong with our offer. Why do we want such a long closing? (because we haven't sold our house yet and we'd like a good shot at doing that before we close) We need more earnest money. (take our offer and you can HAVE more earnest money!) Argh!

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STILL no word from the bank re: our offer. Our agent keeps e-mailing the agent who's handling the listing for them, and he just keeps saying, "nothing yet" and then finding some new thing that's wrong with our offer. Why do we want such a long closing? (because we haven't sold our house yet and we'd like a good shot at doing that before we close) We need more earnest money. (take our offer and you can HAVE more earnest money!) Argh!

 

now that must be frustrating.

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Joining you all, and after reading through this entire thread, you have me terrified! We hope to have it ready to list on the 9th of April - we have carpeting and a new roof going up this week - we've done some painting and major decluttering/cleaning. I've been stressing out to the max, and was feeling like once we just get it listed, it would be smooth sailing. Or at least smoother sailing. But after reading all of this. oiy..I guess we could be in for it, huh?

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We had two showings yesterday. One of them lasted an hour longer than scheduled, so it seems like they are interested. We have another showing this morning and then one on Monday. So after 3 weeks of no activity people are finally looking at the house. I know it will be a hard sell since we are on a main road with lots of traffic, but I'm glad we are finally getting showings. :)

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Here is our listing.

We listed the house February 29th as we were leaving to move to PA. The house is sitting in southwest Virginia EMPTY while we pay the payments and pay rent here. :glare:

There has been showings but not any interest. The others in the price range and smaller, most have smaller lots and we paid for an appraisal when we listed, so the price is not too high. What gives?? :confused:

This is a crazy market. We need to sell this house. I am hoping someone can see past the non-granite countertops like we did when we bought. UGH.

:grouphug: to everyone going through this. DH and I agree that we will be THRILLED if it sells before September.

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We had two showings yesterday. One of them lasted an hour longer than scheduled, so it seems like they are interested. We have another showing this morning and then one on Monday. So after 3 weeks of no activity people are finally looking at the house. I know it will be a hard sell since we are on a main road with lots of traffic, but I'm glad we are finally getting showings. :)

 

 

YAY for 2 showings!!!!!

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Here is our listing.

We listed the house February 29th as we were leaving to move to PA. The house is sitting in southwest Virginia EMPTY while we pay the payments and pay rent here. :glare:

There has been showings but not any interest. The others in the price range and smaller, most have smaller lots and we paid for an appraisal when we listed, so the price is not too high. What gives?? :confused:

This is a crazy market. We need to sell this house. I am hoping someone can see past the non-granite countertops like we did when we bought. UGH.

:grouphug: to everyone going through this. DH and I agree that we will be THRILLED if it sells before September.

 

The bolded is what gives, in my I'm-right-there-with-you opinion. We had someone call about looking at the house. Our realtor asked them to wait until we got the carpets cleaned. They asked if we would be willing to change the roof because they don't like the color. :confused:(it's a 1 year old roof) He said he'd be willing to show them the house when it's listed for sale. Any questions could be addressed at that time.

 

Color me flummoxed.

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The bolded is what gives, in my I'm-right-there-with-you opinion. We had someone call about looking at the house. Our realtor asked them to wait until we got the carpets cleaned. They asked if we would be willing to change the roof because they don't like the color. :confused:(it's a 1 year old roof) He said he'd be willing to show them the house when it's listed for sale. Any questions could be addressed at that time.

 

Color me flummoxed.

 

Oh good grief! I guess they figured "we can always ask and see what they say" motto.

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My husband's niece is a realtor in another county and we had a good talk with her about "how ready does a house have to be before putting it on the market?" She basically said that the market is hot for the DC area and get it on ASAP. She said it's not worth it to wait another week just to get some furniture in for staging. If we want to do that later we can...but she stressed get it on the market first! She's sold (put offers really) 11 houses in the last 2 weeks! Gosh - I hope they all come to my area and look too! LOL

 

So I put a call in to our realtor yesterday saying that I wanted the photographer to come out and get the pictures and I wanted the house listed by the end of the week.

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My husband's niece is a realtor in another county and we had a good talk with her about "how ready does a house have to be before putting it on the market?" She basically said that the market is hot for the DC area and get it on ASAP. She said it's not worth it to wait another week just to get some furniture in for staging. If we want to do that later we can...but she stressed get it on the market first! She's sold (put offers really) 11 houses in the last 2 weeks! Gosh - I hope they all come to my area and look too! LOL

 

So I put a call in to our realtor yesterday saying that I wanted the photographer to come out and get the pictures and I wanted the house listed by the end of the week.

 

 

In bold: in the n. arlington zip codes, properties are going under contract in some cases with 0 days on market.

 

In fairfac county, the 2.9 months of inventory that had been calculated in January, is obviously evaporating because there are now multiple contracts on many many properties and inventory is NOT increasing (i.e., new properties coming on the market) and contracts are being written with escalation clauses.

 

My advice -- BOOGIE! In the DC area, it is right now no longer a buyers market -- definitely the seller has the upper hand - something that became obvious in just the past 5-7 days.

 

We wrote a contract on a home on thursday night and there were already two other offers on it. Our agent is a genius with escalation clauses and the seller selected our contract. The other offers did not have escalation clauses.

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Mariann, what is an escalation clause?

 

It is an addendum that is included with your offer. I must say that I know almost nothing about them but our agent is a genius with them -- she is also a mathematical whiz and that clearly helps. Our seller's agent (who is one of the most well known in the town we we are moving -- and he is an excellent agent) needed our agent to explain the escalation clause to him.:tongue_smilie:

 

Anyway, the buyer decides what their offer will be, and knowing that there are already other offers on the table (and none have been countered or accepted) the buyer decides the top price they want to pay for the home -- so there is their original offer (which if it is the highest offer, may be all the seller is ever going to know) and the escalation parameters.

 

Our agent asked what the top price was we wanted to pay for this house. Hypothetically, let's say dh and I were offering $100k and the top price wanted to pay was $121k. Our offer is presented as $100k. Let's say that the other two offers are $99k and and $120k - neither with escalation clauses. My offer is $100K and I have in advance authorized my agent to make $7000 increment increases -- our agent says never to make escalation clauses in anything evenly divisible by 5 --

 

so the top offer is $120K and we have an escalation clause that we have written to bring our top offer to $121K just in case someone has offered more than our $100k -- and we don't want to lose this house.

 

Our offer is presented as $121k and we get the house (assuming the seller likes everything else about our contract - i.e., closing date, etc) for $1k more than the original top offer.

 

Does that make sense? It's not ebay bidding -- it is very well specified and dh (who is the most risk averse person on the planet) was very comfortable with it -- it is how we were the offer that was selected.

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I think we're going to fire our realtor. At least *I* am ready to do so. My husband wants to hold off. But, I've slept on it and I still feel the same way this morning. She's really not been helpful and in retrospect she wasn't really all the helpful in helping us to find the house we bought. But, I'm tired and emotional too. My husband usually has a more level business head. The thing I'm worried about is if she drags this out it could really put off getting the house on the MLS. It may not be worth it to do that...but I'm worried how well she'll represent us once it IS on the market. So I feel a bit stuck.

 

Anyway, sorry for the ramble. Just trying to process on little sleep.

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