<p>I’ve had a few requests for an update. The good news: I did get the full deposit plus penalties for delay in closing from the buyer that backed out. And the buyer’s partner is currently in contract to buy my Oakland house(well, I don’t know the full story - perhaps he’s my ex-buyer’s ex-partner. My agent and I have heard different stories but it really doesn’t matter as long as this house sells). But I understand from my agent that the loan situation is again presenting a problem but they hope to resolve it soon. The buyer insisted I let him know if I would need to rent back before the end of January so I said I’d rent back to 2/28 thinking it would give me enough time to buy another house. So if the sale goes through I have until 2/28 to close escrow on another house or find a place to rent.</p>
<p>The bad news: The last week in January I made two offers. One house had just come on the market. There were six offers on that house within two days(my offer was below the asking price, the other 5 offers were above the asking price). The other house was actually in escrow when I made the offer, apparently the listing agent has so many houses he can’t keep track of which houses have offers. I was very discouraged last week. </p>
<p>As I write, I’m waiting for my agent to send me the contracts for two houses I’d like to make offers on. It seems like buyers are suddenly appearing and I don’t have time to make one offer and wait to see what happens so I decided to make two offers. There’s a two story that I really like(but am too afraid to fall in love) and the other, a one story, is workable(there are 4 offers on it all below asking price and I’m planning on offering the asking price - but its more of a backup for the house I really like). My agent was suppose to write the contracts on Tuesday - I don’t know if she’s afraid my house in Oakland is going to fall out of escrow or if she’s waiting for me to make the long drive up to sign the contracts or is just extraordinarily busy. </p>
<p>The “Price is Right” piano was delivered to my new town. The company that provided the piano called me countless times since November and I kept stalling the delivery - I didn’t want it delivered to Oakland. They called me mid January and explained that they don’t get paid by CBS until they deliver the piano. So I got another storage unit in Woodland for the piano(my first storage unit is filled to the roof). Still no sign of the sleds or the cough drops, I’ll need to contact CBS if they aren’t delivered soon. </p>
<p>I’m exhausted. I should be working on FAFSA,double checking my tax forms and helping DS figure out what the #@#% to do about the adjustment to last years 1098-T, but instead, I’m spending my day curled on the sofa reading a book, “Three Cups of Tea.”</p>
<p>I don’t think the Woodland area is suddenly hot - I think a few houses have come on the market at a price that woke a few people up - the one house I’m making an offer on had sold for over $500,000. Its now listed for $330,000. There are lots of houses that have been listed for months and they don’t seem to be moving. But houses that come down enough in price or are listed at the right price are getting multiple offers.</p>
<p>Thanks for the update and good luck with the ex-partner - it seems too close to the problem to me. I hope the partner’s using a different realtor than the last deal.</p>
<p>I missed the part about the ‘Price Is Right’ before. What’s up with that - were you on the show?</p>
<p>ucsd<em>ucla</em>dad, you’re in for a treat by reading the thread oaklandmom refers to. It is well worth the time it will take you to read all the way through it.</p>
<p>O-mom, THANKS for the update! What a wild ride…Whoever writes all the horror stories about how bad the housing market is should follow you!</p>
<p>dstark,
Davis homes have dropped only slightly - that’s why I’m looking in Woodland. In Davis for $350,000 - $400,000 you get a 1000 sq ft house built in the 60’s. The kind of house I’m looking at in Woodland in the low 300’s goes for somewhere in the 500’s in Davis. But if one is looking for rental property - or that house the kid can live in while attending UCD those small houses in the 300’s aren’t bad - and many of them have garages converted to bedrooms which works for college kids - more room for roommates. </p>
<p>But while I see houses drop by 50,000 from what they were a month ago in Woodland, I don’t see houses taking the same kind of hit in Davis. There just isn’t the same kind of inventory sitting on the market in Davis as there is in Woodland.</p>
<p>I thought it was an important book for Americans to read, as it brings a human face to Moslem areas, something we all need as a contrast to other events! Gave it to many people for Christmas. A fascinating story. </p>
<p>Am rooting for the right property to come your way, Oakland mom!</p>
<p>The wild ride continues. Here in Oakland, the loan docs have been drawn for my buyer - he should sign on Tuesday or Wednesday. A week ago I made an offer on a newer house in Woodland. The seller countered: they’d go no lower than their asking price & would pay for none of the closing costs & none of the termite work. I emailed my agent to get an estimate for the termite work(there was a report but no estimate for repairs). I called her, I begged, I pleaded. She didn’t respond. Finally I signed the counter (I love the house, love the yard) knowing I still had inspection & loan contingencies but still worried about how much the repairs would be. Wednesday I sent another email to my agent again pleading for a response to questions about the repairs needed and telling her I need answers no later than Friday & I need to formulate a back up plan(rent? another offer? live on the streets if this doesn’t work out?). She emailed back: “I’ll read your email when I have time.” I spent Thursday on the phone with contractors and found one who promised an estimate by Friday a.m. (My Oakland agent also stepped in and tried to find someone to give us an estimate). Thursday she called and left a message “you do NOT need a back up plan. The seller will be out by Feb 28.” I was stunned & angry. Thursday evening I found an agent willing to show me houses Friday morning. As I’m leaving the house for my one and half hour drive to Woodland, the contractor calls - estimate for the termite work: $10,000 - $12,000. No way am I buying that house with that much termite work to be done. </p>
<p>I met with the new agent. I’d emailed a list of houses I wanted to see. One I’d seen before, one had just been listed & 2 the old agent had never been able to schedule. The first house(just listed) I look at is the same floor plan as the one I’m in contract on & is $30,000 less. The yard is smaller and not well landscaped. It has hardwood floors rather than worn carpet. We look at the other 3 properties. One is also a possibility but has a pool which I don’t want. In the end I decide to make an offer on the house with the same floor plan on the one I’m in escrow on. Agent goes off to write up contract. I leave the now ex-agent a message to cancel the contract on the house due to the $10,000 in termite work. Then I meet again with new agent to sign the contract on the “new” house. New agent has called the bank that owns the property -they will be able to close quickly, maybe even by Feb 26. He has also called and arranged inspections for early next week.<br>
It looks like DS will get to come home to Woodland for his spring break - though I will wait until I have keys in hand to make reservations for his flight. </p>
<p>dstark - talking with the new agent, it does seem like the Davis/Woodland housing market shifted 2-3 weeks ago. Suddenly houses are selling that have sat on the market all winter. Houses that have come on the market in the past few weeks get offers quickly.</p>
<p>Looks like you have a good solution. Who knows how much that $10K of termite work would have increased once they get in there and discover more damage.</p>