[Jim007]

We sold our condo up in Putnam, CT two months ago, for 94% of our asking price. We sold it in the first two weeks we had it on the market. That was the good news. The bad news is, we have to wait for our buyer to sell their house in Pomfret, CT before they can close on ours. Oooh, I hate those contingencies. However, you have to take what you can get in this market.

[benj]

Jim007, I hope you have a contingency in your contract that allows you to continue to market your condo and accept another contract giving the buyers some period of time to either perform on the contract or loose the right to hold you to it. It would be a shame to have you pull your condo off the market for a WHAT IF. Best of luck. Benj

[SteveFromNY]

Originally Posted by Jim007

We sold our condo up in Putnam, CT two months ago, for 94% of our asking price. We sold it in the first two weeks we had it on the market. That was the good news. The bad news is, we have to wait for our buyer to sell their house in Pomfret, CT before they can close on ours. Oooh, I hate those contingencies. However, you have to take what you can get in this market.

Jim, I had a sale contingency too. Make sure you do your homework! I was adamant about putting a time frame in the contract as in NY anyway, I'd have to go to contract and could conceivably be stuck forever waiting for the sale. Amke sure you can start showing the house again after some period of time. Also, go look at their house, and talk to your realtor about how realistically the property is priced. Make sure you are comfortable with the pricing.

We got really lucky - our buyer was able to sell very quickly as they were selling a 2-family to buy my house and in NYC there is apparently still a reasonable demand for multiple family homes.

[scottke]

Our house has been on the market for 10 months and is down $61K from the original asking price. I sure hope it goes soon.

[jojo]

Scottke, Good luck on your house. We moved in last week and our neighborhood is wonderful. Look forward to seeing you in Amelia.

[Pookirgirl]

This Jersey Girl has had her house on the market for over a year. Last year we listed with an agent for a 6 month term which expired in March. It was on a FSBO for the winter. Then we re-listed with another realtor for another 6 months which ends in December. We dropped the price by $15Gs. The only traffic we've had was during our 2 Open Houses a month that we requested. Our realtor has not shown it to anyone and no other realtors have been by either! It is on MLS. We have a lovely home, are the original owners, and have taken excellent care of it. The home and yard are meticulous! What more can I do to sell it other than give it away????
I was so hoping to spend my first Winter in TV! As of now, we have reserved a rental home there for the month of March. :'(
We have an Open House scheduled for this Sunday! Wish us luck.
Scottke...I feel for ya! The pain of selling is too much!!!! Good luck to all of you in the same boat.

[Jim007]

Originally Posted by benj

Jim007, I hope you have a contingency in your contract that allows you to continue to market your condo and accept another contract giving the buyers some period of time to either perform on the contract or loose the right to hold you to it. It would be a shame to have you pull your condo off the market for a WHAT IF. Best of luck. Benj

Benj, yes I do have a clause in the contract that would allow me to take another offer. I don't remember the name of the clause, but it basically gives the original buy first right of refusal on our condo, if we got another offer. However they would have 48 hrs. to agree to close in 45 days or give up their contract. The only problem is, there hasn't been anyone else to show our condo to. Not a lot of buyers out there. There is also an outside date on the contract. If our buyer hasn't sold their property by this date, we renegotiate the closing date with them.

[NJblue]

I did some research on house sales in our area of NJ yesterday to help figure what our approximate price point would be. The good news is that there are houses that have sold in the past year. The bad news is the prices have come down a lot from their highs of 2 years ago. My guess is that prices are off by $150,000 from where they were at the peak. What amazed me was the wide range in selling prices for houses that are similar in size, appearance and neighborhoods. I wonder if the sellers were just very lucky or if they had an exceptional Realtor.

[sschuler1]

My guess is that there was a wide range of how updated the interiors of those house were when they sold. Our realtor told us that buyers want move in ready when they are looking for a home to purchase. I understand why! We went through months of remodelling before we put our house on the market. I don't want to have to go through that when we purchase the new house too! We will be looking for as close to move in ready as possible when we start looking.

[starflyte1]

Our house is worth about 40% less today that it was at the height of the housing market three years ago. When we try to sell, we will have to price it accordingly. It is just the way the market is. Fortunately, we will still see some nice appreciation, but if we want to sell, we will have to take in account the market today. We hope we are thinking right-time will tell when we try to sell.

[njgranny]

Since we stayed in our "starter" home and enlarged it to suit our family, we will make a profit no matter what. :-) Our house only cost $10,100 around 45 years ago. Can't even get a car for that now. Our passion has always been travel, so that's where we put our money. Not a big equity maker, but lots of memories.

In our county, houses are still selling if somewhat slower and lower than before. Our neighborhood has a pretty fast turnover compared to others, as the houses are affordable to young families.

We just have the major job of "dejunking" our utility room and finishing painting one room before we can put it on the market.

Good luck to all who are trying to sell their homes (me included, ha, ha).

Jan

[scottke]

Pookirgirl - good luck to you too. One of these days the right person will come through and we'll probably give it away. Can't wait to get to TV just don't know when it will be :dontknow:

[benj]

Can someone tell me whats wrong with this house?
2800 sq ft ranch,all the good stuff,2800 sq ft basement,1/2 acre lot, great view of the snow covered Rockies,extensive landscaping,executive neighborhood,920 sq ft oversized three car garage.
I dont know what its going to take. I've lowered the price 90k, thats less than I paid and still no buyers. Lots of lookers. Do you know how tired I am of cleaning up every day?
I'm living vicariously on totv. Thank your lucky stars you live in paradise.

[sschuler1]

benj,

I'm feeling your pain, going through the same cleaning up process everyday. Your house looks beautiful, it's just that the market sucks! My realtor told me that everyone is looking to downsize their homes because they can't afford to heat them, so my house should sell at 1654 square feet in no time. But no one can buy because they can't sell their house. So here we sit, waiting for the buyer that will snap up this house.

[benj]

sschuler1,

It took me all day and alot of Tony's time to post my pics. I tried to post them last week when this was a more timely topic, but oh well.

You live in Plymouth? My folks lived near Warren and Ford, Remember the drive-in?

I like that there are people all over the country wanting to move to tv, It validates my choice somewhat.
I sold houses in the Detroit area and now in the Denver area and I'm pessimistic about the market for maybe two years. I'll go nuts if I have to stay here that long. Benj