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#1359643 - 03/18/10 12:57 PM
Re: Turnaround in the housing market?
HappyGilmore
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Diamond Poster
Joined: Nov 2009
Posts: 1,331
Hoosier Country
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Our house, in the 2 years we've owned it, has gotten a brand new roof, new siding, new garage door, new paint, new carpet. Has all appliances (high end), a very large cul-de-sac yard with a great fence, a huge front yard, landscaping, etc. We have put a lot of money into it and, after a couple of price drops, are now asking only $5k more than what we bought it for in 2007. I'm going to drop it though in the beginning of April so we'll be asking the same price we got it for. Ugh... And I am fully expecting to take an out of pocket loss.
I'm just tired of getting feedback like "great house! shows great! Love the location and the yard. The buyers though really want a 4th bedroom". THEN WHY ARE YOU COMING TO LOOK AT MY 3 BEDROOM HOUSE?! Grrr.... It's all specified in the listing, don't waste your time (and mine) if you want 4 bedrooms! LOL
This too shall pass....
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Opinions expressed in these threads are my own and not my employer's.
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#1359658 - 03/18/10 01:08 PM
Re: Turnaround in the housing market?
HappyGilmore
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Platinum Poster
Joined: Oct 2006
Posts: 679
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So, i'm not concerned about recovering our investment, but rather enjoying our home. I completely agree with this. We have also but some big bucks into our home in the time we've lived there (almost 15 years). Some of it was out of necessity (it is a 110 year old house), but a lot of it was just things we "wanted" to do to enjoy our home more. We have been doing some interior painting, and I am sure any realtor looking at the rainbow of colors in our house would have a stroke. But, I figure it's my house, the only thing that matters unless I'm trying to sell it is if I like it!
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If ignorance is bliss, there ought to be more happy people.
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#1359665 - 03/18/10 01:11 PM
Re: Turnaround in the housing market?
Hoosierland
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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Same here. Been there 15 years this month, and are in round 2 of interior painting/updating. Need chimney work this year so that will cost a bit, and either need to redo the hardwood floors or carpet over them.
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Best QB Ever. Worst Defense Ever.
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#1359674 - 03/18/10 01:19 PM
Re: Turnaround in the housing market?
TB 12
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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I think I may have most of you beat; bought in 2005 for $525k and sold in 2009 for $250k.
So. There ya go. That should end most of the whining.
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Giddy up.
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#1359676 - 03/18/10 01:21 PM
Re: Turnaround in the housing market?
MB Guy
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10K Club
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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wow...
uhm, I can rent you my lower level suite if you need a place man.
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I don't repeat gossip, so listen closely...
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#1359684 - 03/18/10 01:25 PM
Re: Turnaround in the housing market?
HappyGilmore
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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No, thanks, I have a nice place to live, lol.
Trust me, been a rough few years that you would hardly believe if I told you all of what has happened in the last 4 or 5 years.
But, Thank God, life is great and things are improving now.
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Giddy up.
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#1359703 - 03/18/10 01:36 PM
Re: Turnaround in the housing market?
Bailey.
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10K Club
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
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random thoughts are that way -------------------->>>>>>>>>>>>>>>
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Get your facts first, then you can distort them as you please. - Mark Twain
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#1359709 - 03/18/10 01:37 PM
Re: Turnaround in the housing market?
MB Guy
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Power Poster
Joined: May 2002
Posts: 6,259
NW IL
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I think I may have most of you beat; bought in 2005 for $525k and sold in 2009 for $250k.
So. There ya go. That should end most of the whining. Yup. You win. I beat the bubble here. Got our’s for $118K, sold it for $149K. Then we got our new one – they were asking $250K, and we talked them down to $195K. But we got it “as is” in mid-stage construction. We plopped $10K to $12K into it to make it habitable (carpet, regrading the land to fix our flooding, light fixtures to have some) basically to get the occupancy permit so the loan could be sold to Freddie. Good times. But still, you win!
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#1359722 - 03/18/10 01:52 PM
Re: Turnaround in the housing market?
HappyGilmore
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Power Poster
Joined: Apr 2007
Posts: 2,649
The Land of Tax Free Shopping!
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I bought my place 2 years ago when I relocated back to the land of tax free shopping. Great old house - about 60 years old, brick/hardwood colonial with an addition on the back. 3BR/2BA, solid neighborhood, tucked away, yet close to shopping, major job center, and a law school...and 25 minutes from Philadelphia.
Since I've relocated again for another job, I'm hoping to sell this place. I was going to only ask what I paid for it, but a realtor friend said I should get an appraisal because she doesn't think it'll sell for what I bought it for...uggh. Very annoying.
I'm going to list it for rent this weekend to see if I can make some money on it and maybe carry it another year or two to see if things improve. I don't plan on buying in my new location anytime soon...I've gotten a little gun shy.
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Caveat Lector! The opinions expressed in this post are those of FBH and no other, not even my employer!
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#1359725 - 03/18/10 01:55 PM
Re: Turnaround in the housing market?
QCL
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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Ouch MB guy..if you waited a bit longer I am sure Obama would have bailed you out... We bought in 1995 as the last housing crash was just bottoming out. Paid 85k for it-prior owners had to bring a couple grand to the table-between their mortgage, 4 years of taxes, and the liens that each of their divorce attorneys put on the home for payment, they had squat. The woman was such a sweetie-having been through all that (and a 4 hour closing since the ex was acting like a complete &^%$#&), she broke down crying because she wanted to leave us a bottle of champagne and a congrats card but she didn't have time....
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Best QB Ever. Worst Defense Ever.
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#1359738 - 03/18/10 02:08 PM
Re: Turnaround in the housing market?
TB 12
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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Well, I also put about an additional $60k (at least) into fixing it up (marble floors, granite, floorplan redesign, metal tile roof, carpet, bathroom reno, coffered and tray ceilings, etc.) and the price rose nicely after I bought it, then the floor fell out.
I made significant money on the prior two homes I built, but that was all flushed away on this one. Cest la vie.
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Giddy up.
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#1359740 - 03/18/10 02:09 PM
Re: Turnaround in the housing market?
TB 12
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Power Poster
Joined: Apr 2007
Posts: 2,649
The Land of Tax Free Shopping!
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I think everything's going to even out though: I made a lot on my first house, broke even selling my second, and I'm going to lose some selling my third. Good times!
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#1359766 - 03/18/10 02:28 PM
Re: Turnaround in the housing market?
FBH
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Diamond Poster
Joined: Nov 2009
Posts: 1,331
Hoosier Country
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I don't plan on buying in my new location anytime soon...I've gotten a little gun shy. We're in the same situation. We've never been renters before (I know, odd) but the last two house-selling experiences have been so bad and made our relocations so much more difficult, we have signed a 2 year lease on this nice townhouse condo we're living in now. If my house doesn't sell by next month, I will also be listing it as a rental. And a lease-to-own option too.
_________________________
CRCM + CAMS = certified compliance nerd
Opinions expressed in these threads are my own and not my employer's.
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#1359775 - 03/18/10 02:33 PM
Re: Turnaround in the housing market?
Truffle Royale
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10K Club
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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who did you get your windows from?
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#1359799 - 03/18/10 02:51 PM
Re: Turnaround in the housing market?
Truffle Royale
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10K Club
Joined: Jul 2004
Posts: 18,989
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I plugged one of those neat-o air fresheners into the basement wall! Smells like new down there! And all for $3.99!
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With the lights out, it's less dangerous.
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#1359804 - 03/18/10 02:55 PM
Re: Turnaround in the housing market?
A_G
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10K Club
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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I plugged one of those neat-o air fresheners into the basement command center wall! Smells like new down there! And all for $3.99! Tell your mom we say hi.
_________________________
I don't repeat gossip, so listen closely...
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