Sold 2 townhomes from jul to dec...

Profile picture for ahhyeah1212

In July, my wife was able to sell her townhome but lost her 10k downpayment because she bought it in the 2005 high priced market. She felt bad about her loss but when I told her about Zillow and what other people were going through, it helped her realized its just a bad market and we really are lucky just to even sell.

In Aug, I put my townhome up for sale and didn't get any offers until I dropped the price from $180k to $169,900. I had 1 offer for 160k (wouldve lost my 10k downpaymt) but took it, and before I could even get to post here, it fell through because the buyer only had a student visa. To make matters worse, there was a foreclosure for sale right next to me. That same week I had a showing but the guy wanted to check out the foreclosure, so I thought I lost that buyer for sure. But to my surprise, he stuck w/ me. I found out later I was actually LOWER than the foreclosure! He offered the asking price but I pay 3% of sale price for closing costs and I jumped at the deal. I still didnt let myself get too excited because anything couldve killed the deal until I handed over the keys. I just closed today after a series of lender and inspections problems.

I'm just sharing this because hopefully it will give the rest of sellers in here some encouragement. The most important factor in our sales was the price. The other factor was luck. I think of all $ I put into my house for repairs and eventually I learned to let it all go. This website helped my look at the market realistically and I guess I didn't feel so bad losing $ anymore when I kept reading everyone else's posts on how difficult it is to sell right now and how some were going through the same ordeal. So, good luck to the rest of you, hope you all sell!

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December 20 2007 - US

Replies (10)

Profile picture for broker_GRI

Congratulations on the sale of both of your homes. It is so nice for you to share that news w/some of the people here. Thank You!

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December 20 2007

congrats ahhyeah! We see a lot of evidence recently that people are buying.

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December 20 2007
Profile picture for Aldreth

He lost his arse, and all you can say, is...

 

THIS IS EVIDENCE PEOPLE ARE BUYING!!

 

Give me a break.

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December 20 2007
Profile picture for Zilluminati

Aldreth witht the usual dreth of fresh air. I love your commited cynicism.

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December 20 2007
Profile picture for Aldreth

It's not cynicism, its pure frustration. The poor guy lost alot of money and came on here to offer support, only to get his thread hijacked for a pro-quo, the market is great remark.

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December 20 2007

nobody said the market is great, just that people are buying, he doesn't seem as upset about the money loss as you do Aldreth, it seems to me that he was relieved that he didn't lose more.

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December 20 2007

Seriously, I don't understand why you are being so nasty Aldreth.   It just isn't like you.

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December 20 2007
Profile picture for Zilluminati

Aldreth,

I'm on your side, but unfortunately, I am also in the housing industry. I'm glad somebody got to do a stupid asz ripoff mortgage for this guy's buyers.

He has a realistic attitude. He's not whining. He's glad he didn't get ripped a new one, his old one just got reemed out a bit. That's a win, today.

The world will end later this year Aldreth, so you have plenty to look forward to. You should be proud that only losing 10K is a success story. It proves you are right and cheering section is not so much.

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December 20 2007

Thanks ahhyeah!

Breath of fresh air!

T.A.M

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December 20 2007
Profile picture for PJ Sassifras

Congratulations ahhyeah!  I'm sure you're glad it's over and you can move on with your lives.  Thanks for sharing your story. 

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December 20 2007
 
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