[NJblue]

rshoffer, I hope you are moving near us in TV - I could use some of your luck to rub off on us.

I'm glad that your situation worked out for you, but I am of the opposite opinion with respect to telling the Realtor that we have already purchased a house. I'm guessing that the word will quickly spread around the Realtor community that we are "desperate" which probably translates into low-ball bids.

[Muncle]

First of all, forgive my verbosity, but I just want to demonstrate that the good lord often takes care of fools.

Since housing market trends are local, it’s hard to tell even in retrospect when the downturn started. All I know is that for once in my life, my timing for selling was perfect. It was 2005 and I had a condo is Fairfax County, VA, right outside the beltway. For the last couple years, prices had been climbing steadily and good units were going in days, often in bidding wars. I’d visited TV twice and had decided to move here, but I hated the idea of putting my house on the market – I detest having people coming into my place while living there. I don’t do beds. And I spread newspapers around the living room. I’m a guy.

Then in June, my nephew and his wife in Leesburg, VA, decide to go to the US Open in Pinehurst. They ask if I’d like to house sit and watch their dogs. I agreed, then wondered what I’d gotten into. Suddenly, a blinding flash of the obvious. I could put my house on the market while I was in Leesburg. I called my realtor and proposed a plan.

Thursday: I’d have a cleaning service come in and erase bachelor slovenliness. Dana would enter the unit on the MLS having it available for viewing starting Friday.

Friday & Saturday: Hundreds of potential buyers would flock to view my unit.

Sunday: I’d return to the unit and in the evening meet with Dana to compare bids.

Monday: We would negotiate with the highest bidders and take the best price, insisting on a 13-14 Aug closing.

Wednesday I would leave for TV and buy a house by Friday, with a 15 Aug closing.

The best laid schemes o’ mice an’ men Gang aft a-gley

Well, I met Dana Sunday evening, and there were no bids to compare, zero, zilch, nada. There had been 8-10 prospects view the place, but no buyers. Dana was crestfallen and started talking about lowering the price. I said no, that I was on no deadline, and to give it at least another week. I’d sleep on top of the bed spread and not use the bathrooms or kitchen – I could rough it.

So Monday afternoon, I got a call from a realtor who wanted to show the place that evening. So I got out of there and went for a 2 hour drive-about. When I got back, there was a voice mail from Dana that we had a full price offer, no new carpet, no paint or allowance, no nothing. I asked if it was from the guy who called about the showing, but it turned out to be someone who was right behind them – guess they thought it was a hot property if two realtors were showing it on a Monday. We agreed to wait until the next evening, and if nothing new came in, to accept. Nothing did, so we did.

So I came down here, looked at a bunch of resales, and nothing tickled my fancy. The first new place I looked at, I loved and agreed on the spot. He bridge loan and mortgage were a piece of cake, and I went back north in days as a homeowner in TV – 15 August closing.

Once back north, Dana informed me the buyers had to close by 31 July. Impossible! I had to stay there until around the 10th, at least. Unless they agreed to a rent-back, the deal was off. (Boy was I full of it, bravado, I mean.) No rent-back. The buyers agreed to let me stay in the condo until the 14th, rent free, and no apportioned condo fees or taxes. I conceded that this would be acceptable.

All went well with the move. The packed truck left the condo on the 13th. I left that day also, heading south. Got in the 14th, did a walk-thru on the morning of the 15th, and closed that afternoon. The household goods arrived the next morning.
Now the good part. In talking to my realtor Dana and friends from the condo, I learned mine was the last unit to sell for about 6 months. This is a 200 unit place with a 20-25% annual turnover. And I recently discovered that my selling price is still the top price for the complex, three years later.

Sometimes you do step in it and come out smelling like a rose.

[NJblue]

OK Muncle, I want you on one side of me and rshoffer on the other. Between the two of you I should absorb enough real estate karma to get our house sold in a few months.

[NJblue]

It's been 5 months since this was posted and since then more people have had luck selling their houses so maybe it's time to bump this to capture any new data.

Our house has been on the market for 3 months and was almost sold until the buyer backed away from the contract. However, despite the doom and gloom coming from our politicians and the media, there still are people out looking (whether they are buying is another issue). Our agent said that things are really picking up now that the holidays are over. We had two showings today - and for the first time, one party came while the first one was in the house. While waiting to see the house, the prospective buyer joked that we would meet in the kitchen for a bidding war. If only!!!

[ouma1938]

We put our house on the market in mid-May 2008 and have had about 10 showings to date. But not a single offer. We did a lot of upgrading, live on a beautiful lake, have a well maintained home and yard, and still no offers. I know its not the realtor's fault, she is the best agent around here, lol, and we dropped the price by $115,000. I am hoping that now the holidays are over the market will turn around a bit and we can sell and get on with the rest of our lives inTV. To everyone who has sold and are already in TV, congratulations, to my fellow wannabees, hang in there, our turn will come.