skydivingchad 0 #1 January 28, 2008 Why is it soooooooo difficult to freakin' buy a house!!!!!!!!!!! We have the money, good jobs, great credit, found a place we absolutely love......took hours to fill in all the blanks on a contract with the realtor. Then she presented it to the sellers and they come back with a price 15k above what we offered, we will still pay it if it appraises at that much but we dont think it will. now it is a paper game until the appraisal gets done and comes back. Then we have to sell our place we just want it done NOW!!!!!! Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites
skymama 37 #2 January 28, 2008 Because people have inflated egos about their houses and think the market won't affect their house. 15K below the asking price is nothing in this market. They should take it. Now, I have to go remove your ad. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
airtwardo 7 #3 January 28, 2008 if it appraises at that much Quote You 'do' realize that if you get it appraised 3 times, it will have 3 different amounts. Of course you have to do so, but if I were you I would rely more on the comps to get an idea of it's value. It's a BUYERS market out there...use that to your advantage, first offer and counter offer are meaningless anyway. Good luck, hope it works out! ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites skydivingchad 0 #4 January 28, 2008 You're killing me lol Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites Beerlight 0 #5 January 28, 2008 Bought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Quote Share this post Link to post Share on other sites skydivingchad 0 #6 January 28, 2008 one of the problems is going to be finding comps. We are looking at a 1890 bank barn that was made into a house in 1977 on 2.6 acres. Finding comps for that is not going to be easy. There is nothing in that area except for a few new homes that are selling for 195k, the price they are asking. Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites jonstark 8 #7 January 28, 2008 Buying land is no better. I have made two offers on substantial sized pieces of land and both times the initial offer was summarily dismissed without even a counter offer. When I made second, better offers the sellers raised the prices above their original asking prices. One I blew off as crazy the other I countered and was accepted at 5% less than asking. That land turned out to be an unacceptable building lot per local code so I now am looking for an abutting property to make it legal and worth making a different offer on. No fun and nerve wracking to boot. Is the purchase of the new house contingent on thee sale of your present one? jon Quote Share this post Link to post Share on other sites airtwardo 7 #8 January 28, 2008 Quoteone of the problems is going to be finding comps. We are looking at a 1890 bank barn that was made into a house in 1977 on 2.6 acres. Finding comps for that is not going to be easy. There is nothing in that area except for a few new homes that are selling for 195k, the price they are asking. Okay...then that's what 'they' are doing...going by the comps for standard homes in that area. Since it's a 'speciality' property, all bets are off. It's old but on a big hunk of property...I can see the allure. Sounds like an 'emotional' type buy...if you guys love it enough! ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites skycat 0 #9 January 28, 2008 Try our neighborhood, 10 houses are in foreclosure and on the market for for 30+K less the comparable homes being sold by the owners. I'm so glad I'm not trying to sell right now and plan to be in our home for 5 or more years.Fly it like you stole it! Quote Share this post Link to post Share on other sites skydivingchad 0 #10 January 29, 2008 no, we can carry mortagages until ours sells. Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites Bolas 5 #11 January 29, 2008 Quote Bought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Appraisers only worry about valuing the house more than the asking price. Plus that way they can get PMI from you longer until you have 20% equity unless you pay to get it reappraised and refinanced. Stupidity if left untreated is self-correcting If ya can't be good, look good, if that fails, make 'em laugh. Quote Share this post Link to post Share on other sites lawrocket 3 #12 January 29, 2008 Find another house and tell the sellers to go pound sand. More than any time in the last 15 years, you can get away with that! My wife is hotter than your wife. Quote Share this post Link to post Share on other sites billeisele 130 #13 January 29, 2008 once the appraiser finds out what you offered they will do whatever they can to make the appraisel fit the deal since this is a unique property that won't be hard becaue no one will be able to question the appraisalGive one city to the thugs so they can all live together. I vote for Chicago where they have strict gun laws. Quote Share this post Link to post Share on other sites sartre 0 #14 January 29, 2008 You're not kidding. I'm in the perfect position, as I don't have a home to sell first. I looked at a property this weekend that is pre-foreclosure. The people still had some stuff in the garage....they have at least one kid judging from the toys. I feel so sad for them, to be losing their home. But I'm trying to look at it as, if I buy it, I'm helping them avoid foreclosure, so that's a good thing. It's just awful for a lot of people right now. Quote Share this post Link to post Share on other sites peregrinerose 0 #15 January 29, 2008 I bought my home as a foreclosure 7 years ago, so even if I sell at a fairly low amount, it's ok, I'll still make money on the deal. This whole home buying thing is a pita. Just found out from our mortgage broker that we may not be able to find a lender willing to give money for a renovated barn. Ughghghghghghghgh. This place is beautiful, the workmanship impeccable. Oh, I'm Skydivingchad's wife. Do or do not, there is no try -Yoda Quote Share this post Link to post Share on other sites wildfan75 1 #16 January 29, 2008 QuoteWhy is it soooooooo difficult to freakin' buy a house!!!!!!!!!!! Wait until you go to try to sell your house. You'll find that buying a house is waaaayyyyy easier, especially in this market. My house has been on the market since last April and is currently listed for $2000 LESS than I bought it for 3 1/2 years ago and a few grand less than what the last couple of townhomes in my complex sold for. Yep, I'm taking one up the ass so I can relocate and quite honestly if someone offered me $15,000 under my asking price I'd tell them go to take a hike too but your situation could be different than mine. Good luck and I truely, honestly mean that!!!!! The market sucks right now, very much more so for the sellers than buyers. Quote Share this post Link to post Share on other sites peregrinerose 0 #17 January 29, 2008 Fortunately, our home was bought as a foreclosure. I had $50K in equity the day I bought it 7 years ago. I also talked with a local property management company, and if I have to, I'll just rent it out for a year or two and sell it when the market is better. Do or do not, there is no try -Yoda Quote Share this post Link to post Share on other sites LisaM 0 #18 January 29, 2008 We lost one house while waiting for ours to sell. So we ended up renting ours so we didn't lose this one. ~ Lisa ~ Do you Rigminder? Quote Share this post Link to post Share on other sites skycat 0 #19 February 1, 2008 Quote You're not kidding. I'm in the perfect position, as I don't have a home to sell first. I looked at a property this weekend that is pre-foreclosure. The people still had some stuff in the garage....they have at least one kid judging from the toys. I feel so sad for them, to be losing their home. But I'm trying to look at it as, if I buy it, I'm helping them avoid foreclosure, so that's a good thing. It's just awful for a lot of people right now. Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Fly it like you stole it! Quote Share this post Link to post Share on other sites algboy 0 #20 February 2, 2008 QuoteBought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Mortgage broker: Will you appraise this house? Appraiser: Sure. What number did you have in mind? Mortgage broker: I need $xxx,xxx. Appraiser: Done! Here's my card. Next . . . . [later that month] knock-knock Mortgage broker: Who's there? FBI: FBI, we'd like to ask you a few questions. May we come in? Mortgage broker: Oh damn . . . . Quote Share this post Link to post Share on other sites sartre 0 #21 February 2, 2008 Quote Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Promise to make him parade past my door wearing only low cut, ripped jeans and baby oil? Quote Share this post Link to post Share on other sites skycat 0 #22 February 3, 2008 Quote Quote Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Promise to make him parade past my door wearing only low cut, ripped jeans and baby oil? As soon as I can get him to do that for me, I'll have him do it for you. Fly it like you stole it! Quote Share this post Link to post Share on other sites Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. 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skydivingchad 0 #4 January 28, 2008 You're killing me lol Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites
Beerlight 0 #5 January 28, 2008 Bought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Quote Share this post Link to post Share on other sites
skydivingchad 0 #6 January 28, 2008 one of the problems is going to be finding comps. We are looking at a 1890 bank barn that was made into a house in 1977 on 2.6 acres. Finding comps for that is not going to be easy. There is nothing in that area except for a few new homes that are selling for 195k, the price they are asking. Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites
jonstark 8 #7 January 28, 2008 Buying land is no better. I have made two offers on substantial sized pieces of land and both times the initial offer was summarily dismissed without even a counter offer. When I made second, better offers the sellers raised the prices above their original asking prices. One I blew off as crazy the other I countered and was accepted at 5% less than asking. That land turned out to be an unacceptable building lot per local code so I now am looking for an abutting property to make it legal and worth making a different offer on. No fun and nerve wracking to boot. Is the purchase of the new house contingent on thee sale of your present one? jon Quote Share this post Link to post Share on other sites
airtwardo 7 #8 January 28, 2008 Quoteone of the problems is going to be finding comps. We are looking at a 1890 bank barn that was made into a house in 1977 on 2.6 acres. Finding comps for that is not going to be easy. There is nothing in that area except for a few new homes that are selling for 195k, the price they are asking. Okay...then that's what 'they' are doing...going by the comps for standard homes in that area. Since it's a 'speciality' property, all bets are off. It's old but on a big hunk of property...I can see the allure. Sounds like an 'emotional' type buy...if you guys love it enough! ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
skycat 0 #9 January 28, 2008 Try our neighborhood, 10 houses are in foreclosure and on the market for for 30+K less the comparable homes being sold by the owners. I'm so glad I'm not trying to sell right now and plan to be in our home for 5 or more years.Fly it like you stole it! Quote Share this post Link to post Share on other sites
skydivingchad 0 #10 January 29, 2008 no, we can carry mortagages until ours sells. Sometimes you're the windshield, sometimes you're the bug. Pelt Head #3 Quote Share this post Link to post Share on other sites
Bolas 5 #11 January 29, 2008 Quote Bought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Appraisers only worry about valuing the house more than the asking price. Plus that way they can get PMI from you longer until you have 20% equity unless you pay to get it reappraised and refinanced. Stupidity if left untreated is self-correcting If ya can't be good, look good, if that fails, make 'em laugh. Quote Share this post Link to post Share on other sites
lawrocket 3 #12 January 29, 2008 Find another house and tell the sellers to go pound sand. More than any time in the last 15 years, you can get away with that! My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
billeisele 130 #13 January 29, 2008 once the appraiser finds out what you offered they will do whatever they can to make the appraisel fit the deal since this is a unique property that won't be hard becaue no one will be able to question the appraisalGive one city to the thugs so they can all live together. I vote for Chicago where they have strict gun laws. Quote Share this post Link to post Share on other sites
sartre 0 #14 January 29, 2008 You're not kidding. I'm in the perfect position, as I don't have a home to sell first. I looked at a property this weekend that is pre-foreclosure. The people still had some stuff in the garage....they have at least one kid judging from the toys. I feel so sad for them, to be losing their home. But I'm trying to look at it as, if I buy it, I'm helping them avoid foreclosure, so that's a good thing. It's just awful for a lot of people right now. Quote Share this post Link to post Share on other sites
peregrinerose 0 #15 January 29, 2008 I bought my home as a foreclosure 7 years ago, so even if I sell at a fairly low amount, it's ok, I'll still make money on the deal. This whole home buying thing is a pita. Just found out from our mortgage broker that we may not be able to find a lender willing to give money for a renovated barn. Ughghghghghghghgh. This place is beautiful, the workmanship impeccable. Oh, I'm Skydivingchad's wife. Do or do not, there is no try -Yoda Quote Share this post Link to post Share on other sites
wildfan75 1 #16 January 29, 2008 QuoteWhy is it soooooooo difficult to freakin' buy a house!!!!!!!!!!! Wait until you go to try to sell your house. You'll find that buying a house is waaaayyyyy easier, especially in this market. My house has been on the market since last April and is currently listed for $2000 LESS than I bought it for 3 1/2 years ago and a few grand less than what the last couple of townhomes in my complex sold for. Yep, I'm taking one up the ass so I can relocate and quite honestly if someone offered me $15,000 under my asking price I'd tell them go to take a hike too but your situation could be different than mine. Good luck and I truely, honestly mean that!!!!! The market sucks right now, very much more so for the sellers than buyers. Quote Share this post Link to post Share on other sites
peregrinerose 0 #17 January 29, 2008 Fortunately, our home was bought as a foreclosure. I had $50K in equity the day I bought it 7 years ago. I also talked with a local property management company, and if I have to, I'll just rent it out for a year or two and sell it when the market is better. Do or do not, there is no try -Yoda Quote Share this post Link to post Share on other sites
LisaM 0 #18 January 29, 2008 We lost one house while waiting for ours to sell. So we ended up renting ours so we didn't lose this one. ~ Lisa ~ Do you Rigminder? Quote Share this post Link to post Share on other sites
skycat 0 #19 February 1, 2008 Quote You're not kidding. I'm in the perfect position, as I don't have a home to sell first. I looked at a property this weekend that is pre-foreclosure. The people still had some stuff in the garage....they have at least one kid judging from the toys. I feel so sad for them, to be losing their home. But I'm trying to look at it as, if I buy it, I'm helping them avoid foreclosure, so that's a good thing. It's just awful for a lot of people right now. Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Fly it like you stole it! Quote Share this post Link to post Share on other sites
algboy 0 #20 February 2, 2008 QuoteBought mine 4 months ago. Yes, sucks! But, I made an offer $15K less than asking and they took it. Guess what, it appraised $500 more than I bought it. So they really were crazy to ask what they did........soft market. Wait it out, they'll take the lower price........ Mortgage broker: Will you appraise this house? Appraiser: Sure. What number did you have in mind? Mortgage broker: I need $xxx,xxx. Appraiser: Done! Here's my card. Next . . . . [later that month] knock-knock Mortgage broker: Who's there? FBI: FBI, we'd like to ask you a few questions. May we come in? Mortgage broker: Oh damn . . . . Quote Share this post Link to post Share on other sites
sartre 0 #21 February 2, 2008 Quote Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Promise to make him parade past my door wearing only low cut, ripped jeans and baby oil? Quote Share this post Link to post Share on other sites
skycat 0 #22 February 3, 2008 Quote Quote Hey you should by a house in my area, homes and cheap and Derek just down the street if you need a handy man. Promise to make him parade past my door wearing only low cut, ripped jeans and baby oil? As soon as I can get him to do that for me, I'll have him do it for you. Fly it like you stole it! Quote Share this post Link to post Share on other sites
