Interesting how fast that story got pulled from CNN. It does not show up on the main page any more.
Current Housing Market 2009 - Experiences?
- Thread starter douglee25
- Start date
douglee25
Well-Known Member
So I wanted to bump up this thread and update everyone.
To recap, I hired a realtor to sell the property in April 2009. A few offers that lead no where, and very little activity past September 2009. My realtor approached me in October and told me that he was switching companies because his current agency did very little to help support their employees in terms of advertisement. His advertisement costs were out of his pocket, and he was looking for more assistance. His belief was more advertisement, the potential for more sales. I signed on with him at this new agency on a month to month basis because I wasn't so sure how it would pan out, and I didn't have time to look for a new realtor at the time. 40 days after signing on with him, I still didn't have any new flyers for the flyer box and the sign wasn't in the ground. Promises after promises. I finally got the sign, but still no flyers. In December we scheduled an open house which he cancelled approximately 4 days prior because he did not advertise it, so he said. Then we set it up for the following Sunday and I received a text message 2 hours before the open house that he wanted to cancel again because the Eagles were playing and he felt that no one would show, plus he never advertised. That was the clincher right there. I immediately began to look for a new realtor.
I found a new realtor and his advertisement was pretty catchy, so I had to call and inquire. He claimed he had a 80 some step marketing plan, his fees were negotiable, and his 'contracts' allowed the seller to walk at any time should they not be happy with his services. I hired the guy on at the beginning of January 2010. I told him he had 90 days to sell, otherwise it was coming off the market because my schedule is really hectic the rest of the year. He agreed. We priced it at 5% under what I thought it should have sold for previously. We got 2 offers in 10 days or so. The first offer we got up to full price. The day before the buyer was scheduled to sign the paper work, he got into a car accident and he backed out. The second offer would not negotiate any, so we decided to cut our losses and just accept it. The offer was approximately 8% under what I thought it should sell for, but it was at the mid to high end for the current market conditions.
We immediately started looking for a new place after the offer was signed. It took us two weekends (10 or so homes) to find the house of our dreams (for right now anyway). We finally settled 2 weeks ago and moved in. The whole buy/sell thing has been nothing but a royal pain in the ass for the past two months. I could go into a ton of detail, but it would take up too much time. The important thing is that we're finally in the new house, we moved out of NJ and into a much better state (sorry NJ'ers), were close to family and friends, and now I can begin getting the boat ready for the season!
Doug
To recap, I hired a realtor to sell the property in April 2009. A few offers that lead no where, and very little activity past September 2009. My realtor approached me in October and told me that he was switching companies because his current agency did very little to help support their employees in terms of advertisement. His advertisement costs were out of his pocket, and he was looking for more assistance. His belief was more advertisement, the potential for more sales. I signed on with him at this new agency on a month to month basis because I wasn't so sure how it would pan out, and I didn't have time to look for a new realtor at the time. 40 days after signing on with him, I still didn't have any new flyers for the flyer box and the sign wasn't in the ground. Promises after promises. I finally got the sign, but still no flyers. In December we scheduled an open house which he cancelled approximately 4 days prior because he did not advertise it, so he said. Then we set it up for the following Sunday and I received a text message 2 hours before the open house that he wanted to cancel again because the Eagles were playing and he felt that no one would show, plus he never advertised. That was the clincher right there. I immediately began to look for a new realtor.
I found a new realtor and his advertisement was pretty catchy, so I had to call and inquire. He claimed he had a 80 some step marketing plan, his fees were negotiable, and his 'contracts' allowed the seller to walk at any time should they not be happy with his services. I hired the guy on at the beginning of January 2010. I told him he had 90 days to sell, otherwise it was coming off the market because my schedule is really hectic the rest of the year. He agreed. We priced it at 5% under what I thought it should have sold for previously. We got 2 offers in 10 days or so. The first offer we got up to full price. The day before the buyer was scheduled to sign the paper work, he got into a car accident and he backed out. The second offer would not negotiate any, so we decided to cut our losses and just accept it. The offer was approximately 8% under what I thought it should sell for, but it was at the mid to high end for the current market conditions.
We immediately started looking for a new place after the offer was signed. It took us two weekends (10 or so homes) to find the house of our dreams (for right now anyway). We finally settled 2 weeks ago and moved in. The whole buy/sell thing has been nothing but a royal pain in the ass for the past two months. I could go into a ton of detail, but it would take up too much time. The important thing is that we're finally in the new house, we moved out of NJ and into a much better state (sorry NJ'ers), were close to family and friends, and now I can begin getting the boat ready for the season!
Doug
Doug,
Glad you found a new place. Thanks for the update. Can you take advantage of the 6500 credit?
Chuck
Glad you found a new place. Thanks for the update. Can you take advantage of the 6500 credit?
Chuck
douglee25
Well-Known Member
Actually she can take advantage of the 8000 tax credit because she hasn't owned a home in several years.
Doug
Doug
She?? Who is she? Your buyer?
You still may be able to take advantage of the 6500 credit.
douglee25
Well-Known Member
She is my fiance. I can not take advantage of the 6500 credit because I wasn't in the previous house long enough.
Doug
Gotcha. The credits have not helped in our area since we are a second/vacation home area.
