Round and round it goes, where it stops nobody knows!

4 Comments

  1. Jiji

    The thing is, its still very early in this cycle IMO, still has about 5 years to run.

    And they are not building new ones them and selling them cheaper.

  2. Susie

    Once again, JtR, your comments are stellar! And not just in NSDC. Will be de-listing my property today. We received only positive feedback from buyers’ agents:

    Here are examples:

    1. All-cash offer but the yard may be too small for her dog (I have a 9,147 sf lot). Never came back for 2nd showing.

    2. Buyers were to choose between my house and one other: (They chose the other house.)

    3. Buyers “liked the house” but the secondary bedrooms were too small.

    4. Husband loved the RV garage; the wife not so much. They are now “pending” on similar home on next street over which has the RV “footprint” as mine, not just the height. The owners never lived in the house, and they bought it in September, 2010. They decided they wanted acreage so they had their daughter (agent) list a very low price for the square footage.

    Buyers had made an offer on my house on a Thursday. (They wanted me to pay 50% of way-too high closing costs ($9,750) and a bunch of other fees sellers usually don’t). They withdrew offer as the other home went on the market 1 day after they had made offer on my home. They must have seen the other one hours after it hit the market, and withdrew their offer after their other one was accepted.(Alas, it is what it is.)

    4. Buyers’ agent called me up to negotiate items on offer her buyers were going to make. I told her politely that it wasn’t my responsibility and suggested she talk to my realtor. My agent was in Las Vegas for her daughter’s 21st-birthday over two days). When agent persisted, I told her the truth: that I hadn’t had breakfast and it was 1:30PM. She told me she “hadn’t heard from my agent”–even tho’ my realtor texted her numerous times. Agent told my realtor that I “really didn’t want to sell my home” because I was more interested in food than selling”. That comment got my realtor to call me twice very concerned about me. Agent told her buyers to look at other homes. They eventually made an offer on another house.

    ^^^ Seriously, you can’t make this stuff up! Someone should write a book about real estate adventures. I’m sure it would land on the NY Times Bestseller List.

    5. Buyers relocating. My home made “short list”. Husband was to look at eight more homes next day. Called his wife to fly in, and then they’d choose the top three. They haven’t come back for 2nd showing, and are “still looking.”

  3. Susie

    MORE:
    I only listed my home for a month. It was going to be a long, hot summer if I continued on this exercise in futility. So I may re-list in September. (Who knew last year that was the best month to sell? Folks here evidently want a new home from Santa.

    Then again, I’m exploring the possibility of an auction. Yes, it has to have a reserve. If and when it sells, I’m planning to build or an existing home may catch my eye on Zillow.

    *Sigh* This real estate adventure began a month ago, because of concerns about my next-door neighbor’s behavior and his propensity not to “care” about the HOA covenants (He’s never read them). In fact, he just received a “cease and desist” letter from the HOA’s lawyer.

    I never put my home on the market because I didn’t like it or the neighborhood. “But Jim, I love the house!” His wry reply: “And you’ll love the next one.”

    I tell you, bubbleinfo folks, just like my beloved brother-in-law (who my sister has been married to for over 38 years and tells me not to encourage), JtR is always right…

  4. Eddie89

    Yes, it’s way too hot in Phoenix, AZ Going from air conditioned house, to air conditioned car, to air conditioned office for over 19 years and we couldn’t take it anymore.

    Made the move to San Diego 2 years ago now. Still saving up for the 20% down on something nice and close to work. Renting a house until that time. Same house we’re renting would result in a 30 year mortgage of over $3,000 per month. Rent is just $2,300

    So, for us, it’s cheaper to rent right now. Especially where we want to be. And 1 year into the house rental and the water main to the house bursts. 20+ year old polybutylene. Owner replaced it with copper from the main. Times like that made us glad to be renters and not owners. 🙂

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