Dear So and So

[Blueberry]

I'm in the same, selling, boat with Indy. Have a realtor I'm happy with, but getting a buyer is another issue. We're entering month #3. Yes the stress is getting to me, had a 2-day migraine (yesterday & sunday). Doesn't help that I torture myself looking at properties to buy, when I can't do anything until the house sells. ARRRGGGH

Oh Beth-

I so feel for you, and I'm really, really hoping we aren't there in a few months. The good news is we don't have to move until it sells - the bad news is we have to live with the issues of being "on the market" - showings, etc. With pets.

I feel really fortunate - our house is in a good neighborhood that seems to be bucking most of the market difficulties. The house behind us (very similar) went on the market a few weeks ago and had 4 offers the first day. I REALLY want that to be us.

Our plan is to rent for a while. Let someone else deal with the repair issues, etc. We will own again - but not anytime soon, I think.

[Pax]

... Our plan is to rent for a while. Let someone else deal with the repair issues, etc. We will own again - but not anytime soon, I think.

That is our plan once we sell as well. The house will go on the market in about two years (I can take my early retirement pittance in 2.5 years). If the house sells quickly we'll look for a short term rental locally, if not we'll just keep living there until it sells... then head to warmer climes and rent there. We're both burned out on maintenance and upkeep so renting sounds like a nice choice for a while.

[indysteel]

Just to clarify that I'm not currently buying or selling. I sold my house in downtown Indy in early 2010....but the experience is still fresh in my mind. I was lucky at least that the house was vacant while I was trying to sell it, so I didn't have to worry about my pets or keeping it tidy. Of course, not living in a house you're trying to sell can also be challenging. It seemed like we got a heavy snow every time I had a showing scheduled.

In any event, I became obsessive about comps to make sure I was priced right. That was hard because downtown properties are unique in a lot of ways and their values can vary widely based on what block it's on.

So, that's my advice for anybody selling. As hard as it is to swallow the decrease in property values, try to be realistic about what your house is worth. Also be prepared to be lowballed. Every buyer out there is convinced they're going to get a smokin' deal right now, even if your house is otherwise priced well. Make sure your realtor really understands the comps and can persuasively argue for or against a certain price. Having worked with a handful of realtors over the years, I've included that some are better than others at the actual negotiation part of buying/selling.

[indysteel]

The house behind us (very similar) went on the market a few weeks ago and had 4 offers the first day. I REALLY want that to be us.

Our plan is to rent for a while. Let someone else deal with the repair issues, etc. We will own again - but not anytime soon, I think.

Well, that's encouraging. Here's hoping.

I fantasize about renting again. Homeownership can be such a drag.

[Blueberry]

With the agent change, I am very confident we have a great negotiator (with my career, that's a hard thing for me to delegate - but I realize necessary in this case).

We are priced at the high end of the range that agents have given us - but within the range. We also have an urban house that is very unique. It's hard to know, but we're definitely being realistic on the price with the advice we're getting. Our agent is very comfortable with it (important to me!).

Now - off for my first bike ride in LA

[Crankin]

Wow. My son is trying to buy his first home and here we have bidding wars and people offering way over asking price. He was so happy he got pre approved for first time buyer's financing and now is so discouraged.
We had a great agent who died . We aren't planning on selling for 5-7 yrs. but not sure what we will do without her.

[indysteel]

I rue the day we have to sell our current home. It's in a smallish town where home values have decreased a fair amount since we bought in 2009. Because the volume of sales is low, even at the best of times, it will take a very long time before the market can rebound given how stingy appraisers have become. It will be very difficult to support even a modest increase in price with sold comps.

All the while, we have to put money into the house to keep it liveable for us. It's a losing proposition. At least our mortgage is relatively small.

[Crankin]

My son and his wife had their offer accepted!
Much more exciting than having a grandchild.

[Reesha]

ooo congrats!