Anyone in the same boat, selling a house 8 years apart.

[BB1]

Ok, I bought this home 8 years ago. If you can recall back then it was (1999) aka the peek of the sellers market.
Homes where selling fast and I couldn't hesitate one second to put a contract on a place or it would be sold out from under me at their price.

This house has been a disaster, do to it's age and the massive termite damage that the inspector some how missed.  And the non-working sump pump that I found after a heavy rainstorm, 1/2 in of water later. I can go on and on....

All in all I have repaired all the damage myself.
Now I'm in the worst market to sell. To get right down to it I have an offer that I will probably take, but given the appraised value it is 10,000. less than I wanted. Plus they want me to pay most of the closing cost.

I'm moving to Arizona to a better job and to be closer to my sick parents.
Now I have to rent a truck trailer and spend a ton of money on gas to make the trip. 
I really don't have a choice but the good part is I can get a nicer home in Mojave Valley because of the depressed market out there.
I have learned my lesson on houses, I will buy when I am ready and it will be under my terms and the place will not be over 5 years old.

Eight years of homeowner hell is OVER! And No more winters.  Hooo Raaww

Money is tight so my thinking is to sell my 68 and the Hemi.

O well 

[mikepmcs]

sorry to hear that, but better job and closer to parents sounds like good news. 
Good luck to you.
v/r
Mike

[PocketThunder]

Hey i just spent 2 years putting a second floor on my house and now with the addition of a third kid and the price of gas, we sold our house and are moving closer to my work.  Its sucks to pour your time and effort into a place and then have to sell it for less than you think its worth.  But, you are now on the buying side of the game and you are getting a house for a good deal also.  So you have to eat $10k on the sale of your home, but you will probably get $10k off the next home you buy so its all a wash.

http://www.dodgecharger.com/forum/index.php/topic,37664.0.html

Good luck man.

Dont sell the 68 and the Hemi.  I'll store them for you if you want. 

Paul
in St. Paul (soon to be Minnetonka)

[Shakey]

I am amazed at the differences in the housing markets around North America these days.

For example, the house my Wife and I just sold was purchased brand new in April 2001.  The construction was completed in June 2002 and we moved in.  We finished the basement, put a deck on the back and did landscaping all around and sold it for $164,000 more than we paid for it.  I don't really consider this a windfall as the house we purchased in the same neighbourhood also increased significantly in price.  It's all relevant.

I hear stories of homes in AZ that were at one point valued at $1M now selling for less than half that.

At the same time, I hear stories of homes in Toronto selling for $100,000 - $200,000 over the asking price as the market is still hot and bidding wars for homes in this area are common.

As Mike had stated, the move may not be the most economical one but it is the right thing to do.  Your parents should be proud of you.  Good luck.

[BB1]

Thanks man,
My attitude is, which is kinda part of my problem, is not to worry about money.
I can buy another Hemi or 68 Charger someday, but I only have one set of parents they should come first always.

Also my poor sister who has a dead beat ex husband, 3 kids, no job, living off my parents social security which is nothing. I will help raise the kids, which I do anyway.


I will lose a lot on the house, Hemi, and 68 Charger, but the future in Arizona is very bright. 

I will keep my 69  and will live so close to work that I can ride a bike to work. 

[Mike DC]

Sorry you're in a tight spot.


Housing for living, housing for investments . . .  sometimes they're really conflicting interests. 

But it's like collectible cars and transportation cars.  Sometimes you gotta spend money that you know you won't get back in order to just get on with your life. 



It's money.  It's just a commodity.  Your money is never worth more than what it can do to best serve your life.