How is the house selling season going?

<p>These buyers are from out of town according to my listing agent so I’m guessing the latter. Feedback from the buyer’s agent after the showing today is that my house is “on their short list” of 3-4 homes.</p>

<p>One thing I know about my house compared to others in the neighborhood and price range, is that we have a much deeper lot. Most of my neighbors have done rear additions that are larger than the original (historic, older) homes. So that’s a plus for a buyer thinking of doing significant renovation.</p>

<p>I’m not in a big hurry, it’d be nice to be moved by, like, Christmas, but these showings are kind of a pain, and a little nerve wracking.</p>

<p>Hi! Well, I’m a few years late to this thread…lol…but this is such an all consuming life event that I feel compelled to join in the community. Can’t have too much support.</p>

<p>This is our situation: we live in the “starter” home that we moved into 15 years ago when our D was in kindergarten and our son in middle school. It’s a modest but very pretty and well maintained 1960’s ranch in an older and established suburban neighborhood, of homes that at the time were probably considered “nice” but standards have risen in the past 50 years and they aren’t fancy two story with hipped roofs and high arched windows so they are affordable, and the generation that bought many of these homes as 20 year olds and lived here their entire lives (and are wonderful neighbors) have great grandchildren now, are very old, and they are dying out. Only one or two widowers and widows left. If I knew that all the homes would be bought by just starting out but stable families like ours I’d be thrilled to stay here but I see some of them staying on the market a long time (most are not updated inside like mine, I think) and some are becoming rentals. I am leery of being a retiree in a neighborhood of rental homes that have the potential to become kind of sketchy. Last year there was a murder in a house on the next block - an inside job connected with drugs - you know, I don’t want to sound like a snob and I know stuff happens everywhere but I don’t want to be one of those old people trapped behind burglar bars in a deteriorating area who is too old to move out. I think we need to move NOW. What is fine for a young couple with several more moves ahead of them in their lives is sometimes not the best thing for an older couple facing the later stages of life, you know?</p>

<p>This could go on a long long time but to make it short, it’s proving hard for us to find a new house because it <em>has</em> to have either a shop - a good size real shop, not just a shed - for my husband and I to both operate our home based side businesses out of, that will probably be essential to help us support ourselves after we retire. And it needs to have at least an acre of land on account of husbands and tractors and me not needing to put up with hearing about his sacrifice and how unfair life is and blahblahblah until I either die or I kill him. HAH. I mean seriously, don’t bother to even explore that one with me, just accept that one acre of land is the minimum required for domestic tranquility. Two would be great. A thousand is what the damn fool wants but what <em>I</em> want is not to be 25 minutes of driving and seven minutes of convoluted long directions as to how to find my house when we are old. Or now, even. So we are hoping we can compromise on something on just a little bit of land right outside the city, with either a shop already or room enough to build one.</p>

<p>Our budget is enough such that we really should be able to get what we want - we aren’t rich but fortunately I’m happy with something fairly modest, but it has to be bigger than THIS. We have less than 1300 heated and NO closets and I’m going out of my mind. I have done everything there is to do - decluttered, minimized, organized, etc. But even with the kids leaving soon there is NOT enough room here. I don’t know where people in the 60’s kept their luggage, their ice coolers, their wrapping paper, and their vacuum cleaner, because there is no place for those things in this house that isn’t in the way! That’s just number one on the litany of Things That Drive Me Nuts.</p>

<p>But it’s the layout mainly - the kitchen is a narrow galley kitchen off to itself, there is no fireplace, it’s not good at all for entertaining and we want to entertain.</p>

<p>My SIL doesn’t understand why we don’t have lots of room now that the kids “are gone.” (although they aren’t yet, actually.) Well, unless I turn a bedroom into just a walk in junk room, there’s still not enough space here, and plus, them leaving doesn’t magic us an island kitchen or fireplace.</p>

<p>So I want a house about 1800 to 2000 square feet with a bit of land, with covered access from the car to the house (can be anything - I don’t care - just covered so I don’t carry groceries in the rain) and enough closet space and a fireplace and an open kitchen. In our price range which is doable for that.</p>

<p>Been looking for MONTHS and nothing, nothing, nothing even close. I think when we started looking, the only thing on the market was the dogs leftover from last summer that didn’t sell for good reason, but it’s June already and NOTHING new seems to be coming on the market!</p>

<p>I’ve worked my butt off sprucing up my house to put it on the market - it’s so fresh and pretty I’d want to stay if it weren’t still too small and not in the right area for us to retire! But we can’t put it on the market until we have something to move into, hubby says.</p>

<p>I’m just so ready to MOVE and get on with it. There are big things that are all just on hold for now and nothing shows up, nothing nothing…</p>

<p>it’s so frustrating.</p>

<p>Are there any one acre lots, or tear downs? A lot more trouble I know, but you could build exactly what you want.</p>

<p>

</p>

<p>That sounds a bit risky, depending on your area of the country. Even where I live, the land of sky-high prices and multiple offers, I wouldn’t buy another house without a firm contract on my existing one. </p>

<p>I sold my house without anywhere else to move due to very limited inventory of houses for sale in my target area. Six months after I sold, I bought a FSBO fixer-upper and am very glad it worked out that way because there’s been absolutely nothing else on the market that met my requirements. I had to scramble to find a rental, and it’s a pain to move twice, but it’s worked out ok so far.</p>

<p>And speaking of my fixer-upper, things were chugging along nicely until we hit a snag with the city in getting a permit. The plans are fine, everything’s being done to code, we meet the FAR (floor area ratio) limits with .75 square feet to spare. The issue is that the plan checker can’t read. An example of a comment for our first rejection: “indicate 2-inch nails, not 3-inch nails, for area X”. The plan clearly says “2-inch nails for area X”. Plans were returned twice with comments like this. My architect is baffled but keeps resubmitting with new drawings pointing out the “corrections”. Meanwhile all the demolition has been done (ok to do without permits) and all of the new foundation has been dug (iffy to do without permits) but my general contractor has drawn the line at pouring concrete footings without a permit, so work has slammed to a halt. We actually do have an approved plan at this point, just waiting for the city to calculate the fee, which they say they can’t do for another week and a half.</p>

<p>Best of luck to those still on the selling path!</p>

<p>snapdragonfly, Can you expand your geographic search area a bit?</p>

<p>Well, I was trying to keep from boring everyone with my usual tomes :smiley: so I left out some details but you really can’t get an accurate picture without them.</p>

<p>“Are there any one acre lots, or tear downs? A lot more trouble I know, but you could build exactly what you want.”
Well you see - actually, until a couple months ago, we actually owned outright the most gorgeous, perfectly located 9 acres imaginable. It was within the city limits, in what was recently the outskirts but we bought the lot just before growth exploded in that area. It’s still residential but even if the road it faces turns commercial - which it might, as it is now the main artery to our new A&M campus - the lot is so deep that you could build way back and never be bothered. Big huge trees on gently rolling fields. We’ve owned it since before we bought this house, actually, and for years, have been planning to build our dream house and shop on that.</p>

<p>But we finally, reluctantly, after years of scheming on it, came to the conclusion that we couldn’t afford to build. Which sounds wrong, especially as he’s in the building industry, and theoretically we could do some work ourselves. But realistically, in our market right now and for the foreseeable future, it costs about 30 dollars a square foot MORE to build than to buy existing. Roughly, depending on what you buy, but that’s an average, and you never know for absolute certain how much a house will end up costing you until you are done building it. It’s a risk we just didn’t want to take, because almost always you end up spending more than you swear you will, but stuff happens. And, that doesn’t take into consideration the road and developing the lot…which, we have no buddies in the road business, and let me tell you, roads might as well be paved with diamonds. They are damn expensive. And I don’t want to drive down a rutted dirt path with mud puddles during my retirement years…</p>

<p>So we sold it and that was hard because it was saying goodbye to the nicest pipe dream you can imagine. We did make a pretty good profit on it - sold it for 4 times what we bought it for - so it wasn’t a loss. It’s the reason we can upgrade a little bit. But though a smaller lot might not bring the problems of a lengthy road, it still is the issues of costing more to build than to buy here - plus the time involved - I think we just decided we didn’t have the energy and time to go that route. Which I hate. But I think it’s a more honest assessment of what we need to do.</p>

<p>As for expanding our search - not really, at least not on a large scale, on account of his job, which isn’t the kind you transfer (works for a small local company) and he’s been very successful in most part because he has been here so long and everyone in his field knows him personally and his reputation. It’s the payoff of 30 years of hard work and integrity and it doesn’t follow you when you relocate, because it’s a pretty regionalized industry.</p>

<p>As far as a more localized expansion - Actually there are a couple little towns within 15 or 20 miles of this town where a lot of people do live and they commute to our town, which is the largest one in our region, and he keeps wanting to consider a house in one of them just because we could get a lot of land for the money, but I won’t have it. I hate commuting and I don’t want to spend an hour of my day in the car. Lots of people do and don’t mind, which is cool, but why go through all this upheaval to end up in something that I never wanted? And I bet he’d be sick of that drive after a while, anyway. We still have 10 to fifteen years before we retire, so we have to find something that will work when we do but that still works now.</p>

<p>I know I sound awful picky, don’t I? But the thing is we don’t HAVE to move, not like you do if you relocate or something - but we need to, for our long term best interests, and better now than later. So we don’t want to move unless we can get exactly what we want. I mean, I already have a house that isn’t exactly what I want, why go through all this to be in another one? haha. And I love what I’ve done to our house and sometimes we wish we knew that the neighborhood would remain stable for the next 20 years because we could expand it and expand our existing (too small) shop. But if we expand this house and end up having to move anyway, we’ll lose our shirts, because we would never recoup that money when we resold - it would make this house worth more than the neighborhood would let it be sold for.</p>

<p>So you see the kind of running in circles we’ve been doing for the past decade and a half…add to that, that both of us are very risk averse and resistant to change overall and it makes for a lot of self induced angst. lol.</p>

<p>So thanks for letting me vent and thank you for the suggestions, which are good ones for people without our particular constraints…though I am going to try to reexamine every option once in a while and keep an open mind.</p>

<p>Snapdragonfly: We had some similar issues, which is why my car has never spent a night in the garage. Sigh. The tools are well sheltered.</p>

<p>We also had the “where” issues – I wanted mountains, he wanted near lots of people, and we looked at literally dozens of properties that one or the other of us vetoed. And then the house we now live in showed up: close to downtown, but on a creek very near the mountains. Just perfect. Other than the garage situation – but we’ve been here 22 years and change and love the location. I’m glad we were able to wait until we found what we wanted.</p>

<p>Well, you can fix the house but not the location. Your house sounds like just what we would want!</p>

<p>I know that the kind of house in the kind of location we both want, exists. I drive past them all the time. They just aren’t for sale.</p>

<p>I am so tempted to knock on their doors and say “sell me your house, please?” lol.</p>

<p>side note on that - My dad has been a realtor for 40 years - in his whole experience, he has only known that to happen twice - and both times it was to the same man - it’s quite a tale. What are the odds. Twice in his life, someone knocked at the door and said, “I want your house, I don’t care what it costs.” LOL! But not in the same house though - he sold it the first time, and then when it happened again in a different house, he sold it again.</p>

<p>Hey - Arabab - you wanna sell us your house?? haha!</p>

<p>Buy the house and land you want, then build the workshop. That parts of building should be relatively cheap…</p>

<p>snapdragonfly, Are you subscribed to email alerts on Redfin, Trulia, or the like? (I’m partial to Redfin) Do you know or have a realtor in mind who could possibly help you with the search process and show you properties that meet your criteria? It might help you to see some “contenders”, even before selling your current home, just so you know that they DO exist. Good luck.</p>

<p>We are subscribed to Trulia but not the rest - I’m going to check them out though! We have an excellent realtor - she got our land sold in ONE WEEK. We had put it on the market twice before and never got so much as a nibble, though we did get a few crackpots wasting our time.</p>

<p>We have looked at a few houses but they weren’t right, and actually she’s the one who keeps finding serious issues with the houses! Her philosophy is to make sure her clients end up with the right house and not to just push a sale as fast as possible. My husband, a few times, went and looked up all the houses on MLS in our area that seemed to fit our needs and was like, “why isn’t she calling us about these? What are we paying her for?” (which I have to remind him she actually doesn’t make a dime unless we buy a house and nobody is more motivated than her to find us one) but then after looking closer at them all we realized why she didn’t call us about them, because they were wrong for us and a waste of time. I feel she knows exactly what we need and I’m sure as soon as one comes on the market she will call us. We keep our eyes open in the meanwhile, though, of course.</p>

<p>We decided to subscribe to the newspaper again so we can watch the FSBO’s. Perhaps something might be there which isn’t coming up on MLS searches.</p>

<p>Anxiousmom, we pretty much expect we will have to build the shop, which is not a big deal to do IF we can find the right lot. It has to be laid out favorably to add a shop in the backyard. I think if we expected to find the right kind of house - not too much, not too little - on the kind of lot and location we want, that also already has a shop, we’d be looking till the day we died! So far just finding the right house on the right lot isn’t happening. But surely SOMEONE in this town will decide they are going to sell their house eventually!</p>

<p>Vball, I forgot to mention that actually we own our current house outright, so if we find a house and ours doesn’t sell right away, we won’t be dealing with two mortgages. We have the money from the land for a substantial down payment, and it would be an annoyance to have to take out a mortgage (plus a waste of money) until our old house sold and we could pay it off, but it wouldn’t kill us. If we find the perfect house we need to jump on it. I would actually not be averse to putting ours on the market and moving into a temporary place if we don’t find one to buy, as our realtor’s office handles rentals and can put us someplace month to month, but my husband is against that. He kind of has a point because the shop has a lot of huge, heavy, as in it would take a forklift to move heavy, equipment and machinery in it, and moving that twice would be worse than moving the household. Plus hard to find someplace to put that equipment, and if it was just in storage, he would be unable to put it to use to make money if some jobs came up while he waited.</p>

<p>It’s so complicated. We are lucky because we are in a really good secure position and I am very very grateful we never had huge setbacks so we could live modestly and be able to pay our house off, but, we have all the caveats and stuff that normal people, I think, don’t. And I think we are probably the damn pickiest hard to please couple EVER.</p>

<p>I think if we had the stress of possibly having to pay two mortgages at once I’d just resign myself to burglar bars and start looking for some in patterns I liked. Hah!</p>

<p>

</p>

<p>I can so relate to this. We’ve been officially looking for about two months now, and I’ve “unofficially” been keeping my eye on things since February. There are probably hundreds of houses in the city we like that would be perfect for us, but there is almost nothing for sale. When I put in our search paramaters into realtor.com (the site where I tend to find the most listings around here), I get 12 houses. 11 of them are on the very edges of town where things are leaning towards ghetto and not anywhere near worth the price. The 1 that isn’t has trees in the gutters. There were a lot more on the better side of town, but they’ve all sold in the last six months or so and now inventory seems to have dried up. In the last six weeks, we’ve seen 5 houses and there was something about each of them that there was just no getting around. Right now there’s nothing to even look at… we’re stuck waiting for something to come on the market. I am almost half-seriously considering flyers in the subdivisions we like. lol. We HAVE to move by November, either into a house or we’ll have to find another apartment where we can get month to month… and the cost of that would be so astronomical I don’t even want to think about it.</p>

<p>I have my fingers crossed for you! People keep telling me that things will pick up for summer soon, maybe that’ll turn out to be true.</p>

<p>In our neighborhood, we regularly get letters/postcards from realtors saying they have a client and asking if we have thought about selling! Good to know our area is strong.</p>

<p>My mother owned some land in Florida and received letters to buy her property for something like 30 years.</p>

<p>What sort of information is put in these letters? Do they always come from the realtor? Just curious… I don’t think I’ve ever seen one. One never knows, I could be quite desperate towards the end of the summer if we still haven’t found anything!</p>

<p>Emaheevul07 - you are still in school, right? Maybe I missed it, but have you and your BF figured out the arrangement you would have in owning a home? Would he need your income to qualify? How would bank view that (some banks do not allow that)? Or will he be the sole owner of the house and you would be a renter? Since you are seriously looking for a house, have you considered getting mortgage pre-qualification. Buyers would take you more seriously if you are pre-qualified.</p>

<p>I am not in school, I’ve been out for over a year. We do already have prequalification, and our lender doesn’t seem to have any issues with our circumstances. Everything has been discussed and worked out. I think we’ve covered all the bases, now it’s just a matter of finding the right house!</p>

<p>I think you would be good at reading up on this:
[A</a> Tax Lesson for Unmarried Couples - SmartMoney.com](<a href=“Online Tax Advice - Tax Preparation Help - Income Tax Tips - MarketWatch”>http://www.smartmoney.com/taxes/tax-policy/a-tax-lesson-for-unmarried-couples-1317760501722/)
[Homebuying</a> for unmarried couples](<a href=“Bankrate: Guiding you through life's financial journey”>16 First-Time Homebuyer Mistakes To Avoid | Bankrate)
As an unmarried couple, how much are you able to deduct mortgage interest each. You will not be able to file joint tax return. Are you going to be on the title? My siblings have asked me to invest in vacation homes with them, and my answer has always been no. The reason is I may want to sell when they don’t want to, and I would be stuck. I would have everything in writing.</p>

<p>It can be pretty tricky when unmarried people buy a property together, as was pointed out above. It’s tough enough when marrieds purchase together! Real estate is not an “easily divisible” asset & creates a lot of complications. Please read & know what you’re getting into. Good luck!</p>

<p>

</p>

<p>[Facebook’s</a> Big Jump Was in Menlo Park Home Prices | Business News](<a href=“http://business-news.thestreet.com/mercury-news-real-estate/story/facebooks-big-jump-was-menlo-park-home-prices/1]Facebook’s”>http://business-news.thestreet.com/mercury-news-real-estate/story/facebooks-big-jump-was-menlo-park-home-prices/1)</p>