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Old October 8th, 2007, 11:18 AM   #1
cornfed
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Default Anyone sell a house during the past year?

If so: location? length of time on the market? How bad did you get kicked in the nuts with lowball offers?

Wife and I are considering moving. We really haven't done much research yet, only discussing ideas.
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Old October 8th, 2007, 11:32 AM   #2
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http://www.greatlakes4x4.com/showthread.php?t=11270


Over a year. No offers. I don't think its even been shown. Contract extension is up at the end of this month, so I'm going elsewhere.
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Old October 8th, 2007, 11:38 AM   #3
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There are nine houses for sale in my sub.
The couple people that I know personally, haven't even had any offers yet.

Houses are in the 240 to 280 range, most are pretty nice houses.
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Old October 8th, 2007, 11:40 AM   #4
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Sold our house on July 1st of 06. It was on the market for 1 year, had lowered the price once, removed listing and re-listed it to get new mls number and new search hits. Got several really low offers, then finally sold for close to what we had hoped for.

Just takes time, especially now. Clean it well before every showing, try to take down any personal stuff and nick nacks, like family photos, etc, so the person going thru has an easier time seeing themselves in the house. And bake some cookies right before they show up, so they have some cookies to eat, and so the house smells nice!
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Old October 8th, 2007, 11:47 AM   #5
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There are 3 houses on my block that have been on the market for well over a year now. One has had a sign in front of it for probably 1.5-2 years. I guess they gave up on that one and are going to abandon it or something because there is no longer a sign in front and no one has moved in.

I lowballed/bargained on my house and the realtor told me that the seller made $400. This was 3.5 years ago.
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Old October 8th, 2007, 12:03 PM   #6
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Quote:
Originally Posted by wynerd View Post
There are 3 houses on my block that have been on the market for well over a year now. One has had a sign in front of it for probably 1.5-2 years. I guess they gave up on that one and are going to abandon it or something because there is no longer a sign in front and no one has moved in.

I lowballed/bargained on my house and the realtor told me that the seller made $400. This was 3.5 years ago.

To my knowledge a friend's house, at 23rd and Northline, has been on the market for three years. Poor bastard was almost saved by Wallgreens/CVS buying the homes until they backed out.

A local realtor friend tells us that our house would be desirable for somebody downgrading from their $300k+ country chateau, who does not want to give up the country lot size, but can afford a mortgage on a $65k+/yr household income. We'll see where this goes. I need to have the house reappraised.

Hmm... maybe I can part it out. Anybody need a ceiling fan or bedroom?
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Old October 8th, 2007, 12:09 PM   #7
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My wife does real estate appraisals if you need one...

You can contact her at peeweet@sbcglobal.net
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Old October 8th, 2007, 12:16 PM   #8
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5 months to sell my home in Mad Heights. Listed it in October 2006. Sold February 2007.

Appraised 4-5 years prior for $165K. I listed it at $150K. Sold for $140K.
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Old October 8th, 2007, 12:54 PM   #9
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Quote:
Originally Posted by cornfed View Post
To my knowledge a friend's house, at 23rd and Northline, has been on the market for three years. Poor bastard was almost saved by Wallgreens/CVS buying the homes until they backed out.

A local realtor friend tells us that our house would be desirable for somebody downgrading from their $300k+ country chateau, who does not want to give up the country lot size, but can afford a mortgage on a $65k+/yr household income. We'll see where this goes. I need to have the house reappraised.

Hmm... maybe I can part it out. Anybody need a ceiling fan or bedroom?
I heard that there are currently 350 houses for sale in the dotte. There were 11 for sale on my cousin's block at one point. Block, not street. There are a couple new condo projects that have actually stopped construction because they haven't been able to pre-sell any of them yet.

Where would you be looking to move? Somewhere closer to work?
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Old October 8th, 2007, 01:54 PM   #10
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Quote:
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Where would you be looking to move? Somewhere closer to work?
We'd remain in Ash Township/Carleton. We'd like a slightly larger house, but adding on to ours would cost more than if we sold/bought.
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Old October 8th, 2007, 02:08 PM   #11
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I have had mine up for sale for almost two years now and have had 2 tire kickers. Of course it doesn't help that the house next door just went up for sale for 134000 (foreclosure) And I am trying to get 190000. There are lots of foreclosures out there, my uncle sells real estate and he said the market is flooded with them. My boss put his house up for sale in Troy 4 months ago, its a 2500 sq ft colonial and is very nice. He started at 320000 and is now down to 260000 and still no bites.
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Old October 8th, 2007, 02:09 PM   #12
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If you got the coin to support two mortgages, then go house shopping now. If you don't, then simply put yours on the market and look for a replacement once you have an offer for yours.
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Old October 8th, 2007, 02:17 PM   #13
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Our house has been for sale for 3 weeks now. My step dad moved to LA for a new job and our house was put up for sale and my mom will move out there when it sells. Looks like its gonna be for sale for a long time.
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Old October 8th, 2007, 03:32 PM   #14
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As you know I took the buyout with my company, but here are some interesting facts on our house's sale history:

2000 built house for $220k
2005 appraised for $335k
March 2007: Comps at $310k
April 2007: Comps at $295k
April 2007: List house for $259k
Today: House still on market at $231k. Has only been shown to 3 people.

Good luck getting out of michigan. If you company offers you a relocation with buyout I suggest you take it.
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Old October 8th, 2007, 05:26 PM   #15
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Sold my Moms house this year in Kinglsey. We took 10 thousand less then it was worth.
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Old October 8th, 2007, 05:29 PM   #16
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Same up here with a small cheap house . I put it on the market for what i paid 10 years ago . No one interested and its a very nice area .
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Old October 8th, 2007, 05:49 PM   #17
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I cany sell my house in fl either. Been listed for 6 months no one even wants to see it.
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Old October 8th, 2007, 06:09 PM   #18
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Just bought mine for 50k less then appraisal. Woman moved out of state 4 months after buying it, and sat on it for 1.5 yrs. She paid 180k, i gave 140k (her payoff). She also left all of the furniture, lawn mower, ladders etc.
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Old October 8th, 2007, 06:10 PM   #19
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Quote:
Originally Posted by Dave Kerwin View Post
If you got the coin to support two mortgages, then go house shopping now. If you don't, then simply put yours on the market and look for a replacement once you have an offer for yours.
Bad advice. Market is going nowhere but down as more ARMs adjust. I would continue to wait until the bottom hits. Perhaps 1-2 more years in MI.
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Old October 8th, 2007, 06:45 PM   #20
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Mine was for Sale last fall for 5 months. Couple of showings. No offers. Ended up turning into a rental property for now. Found some friend who wanted to rent it. Has worked out perfect for me. House is in north Roseville.
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