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01-10-2021 10:02 AM - edited 01-10-2021 10:08 AM
@FiddleDeeDee Wow! So sorry to hear how stressful all of this is for you. I can't imagine and I would be tearing my hair out!...good luck!
It seems like real estate has gone crazy everywhere this past year. Just as the pandemic was starting last year, a house in my neighborhood went up for sale in early spring and I remember thinking...."who would sell a house or buy one right now"? How wrong I was! Housing prices have gone sky high! The prices of the homes in my community have gone up over 100k in just the past year.
My own DD purchased an older (small) row home in Philly back in the fall that is gorgeous inside...it was completely renovated and they were in a bidding war and won the house by paying almost 20k over the asking price. They are very happy and moved in early in October.
We could sell our house for so much more than I ever expected...but that would mean us getting a new place and I still like living here!
01-10-2021 10:19 AM
The risk of buying a home when the market is hot is that you could end up "upside down," i.e. owing more on the mortgage loan than the property is worth when the market eventually returns to normal. It happened unfortunately to a neighbor 10-15 years ago.
01-10-2021 10:39 AM
@Snowpuppy wrote:
@Pearlee wrote:There have been bidding wars on almost all the houses on my street sold in the past year. People are paying way more than the asking price (and the houses aren't worth it!). It's crazy!
Won't be long before your own property taxes go up based on the new valuations of your neighborhood.
Thank goodness we have prop.13 in CA otherwise those rascals would tax us out of our homes....and they'll keep trying.
01-10-2021 10:43 AM
Buying a home is stressful in normal circumstances, never mind during this pandemic. When we moved 4 years ago, it was a hot market where we were moving to. A house would go on the market and there would be dozens of interested people and an offer put on it so quickly. The house we ended up in was coming up on the market in March (it was January when we were told this). My realtor thought she was "in the know" because the listing realtor gave her a head's up. That didn't turn out to be true. My husband was able to get into the house right before the listing hit the interent but so was another couple or two. My realtor was ticked. Then there was an open house....lots and lots of people. However, we did make offer right after my husband saw the house. And so did another couple. We went up $1000 over asking price and wrote a letter and no contingencies (I think the other couple had no contingencies also). We did get the house. It was only my husband who saw the house in person, I was living 3000 miles away. I was stressed but prepared that if this house didn't work out, we'd have to rent. It's just that I wanted to be settle for my daughter's sake in the school district we wanted. Our neighbors across the street sold their house so fast last April that they had to rent when they moved. If there is a house you want, make your best offer up front knowing that you may be competing. If you did your best, than that's all you can do and then move on. Your house is out there, you just got to find it.
01-10-2021 01:02 PM - edited 01-10-2021 01:04 PM
@FiddleDeeDee wrote:@Mz iMac @suzyQ3 Thanks for the hugs and words of support. You have no idea how much it means to me.
Stress is a funny thing with me; I get super motivated, I zero in on what needs to be done and I GET IT DONE. 2020 saw us lose our jobs; have my mother die and deal with death/funerals during COVID; handle her estate (which will take at least a year if not longer); have our other house go under renovations; have inspections; get a rental in Florida; say goodbye to DH; find movers ;pack; move; unpack; find a job for me; find renters for MD house (THAT was a nightmare, let me tell ya!!) and then....sit and sob because we all wanted to be back where there are 4 seasons, our friends, our family and can I just tell you I HATE BUGS!!!
But, we survived and we'll survive this too. Life is a journey and often, you are along for the ride with the occasional opportunity to steer; fingers crossed we steer it down the right path with this house!!
Just reading this makes me want to go and have a glass of wine for you.
I did not know that you were already renting and the circumstances surrounding your greedy landlord until you laid it out in a previous posting.
It seems as if you have your head on straight, and it will eventually work out for you.
Keep the faith!!
P.S. I hate Bugs too.
01-10-2021 01:15 PM
@FiddleDeeDee wrote:@Mz iMac @suzyQ3 Thanks for the hugs and words of support. You have no idea how much it means to me.
Stress is a funny thing with me; I get super motivated, I zero in on what needs to be done and I GET IT DONE. 2020 saw us lose our jobs; have my mother die and deal with death/funerals during COVID; handle her estate (which will take at least a year if not longer); have our other house go under renovations; have inspections; get a rental in Florida; say goodbye to DH; find movers ;pack; move; unpack; find a job for me; find renters for MD house (THAT was a nightmare, let me tell ya!!) and then....sit and sob because we all wanted to be back where there are 4 seasons, our friends, our family and can I just tell you I HATE BUGS!!!
But, we survived and we'll survive this too. Life is a journey and often, you are along for the ride with the occasional opportunity to steer; fingers crossed we steer it down the right path with this house!!
Good gravy! You're getting a LOT done. If anyone can grab a great property in these cirucmstances I'm thinking it would be you. Good luck!
01-10-2021 02:00 PM
@silkyk wrote:
@Snowpuppy wrote:
@Pearlee wrote:There have been bidding wars on almost all the houses on my street sold in the past year. People are paying way more than the asking price (and the houses aren't worth it!). It's crazy!
Won't be long before your own property taxes go up based on the new valuations of your neighborhood.
Thank goodness we have prop.13 in CA otherwise those rascals would tax us out of our homes....and they'll keep trying.
@silkyk, we didn't vote for it but have benefited from it. It has it's pros and cons.
01-10-2021 02:03 PM
These timelines when selling one home and buying another simply drive me crazy!.
Buying your first home is so easy, in retrospect. One usually has all the time in the world to look because they are renting or living at home. They aren't forced to make decisions quickly, and don't feel the pressure of having to sell one house to move on to the next.
I simply wish you an easy road, little stress, and finding the perfect place that meets all your needs and wants. Keep us posted.
01-10-2021 02:50 PM
@FiddleDeeDee Have you joined your new city's Facebook neighborhood page? You might have some luck if you post there that you are looking for a home. I found a vacation rental that way last year. Just an idea!
01-10-2021 03:11 PM
@FiddleDeeDee wrote:
@Tinkrbl44 LMAO. You never fail to make me laugh. Perhaps you need to read the entire thread, lol. You would have known we are already renting if you had, lol. It's all good, Tinkerbell.
I didn't "need" to read the whole thread; I took your comments at face value. Glad you got a chuckle, but your comment looked like a divorce could be coming. Or more discussion is necessary to be sure you're actually on the same page. Splitting property in a divorce settlement could be very costly.
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