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Post by cranberry on Jun 19, 2011 10:10:35 GMT -5
Here's a more thought-out list of pros and cons to securing an apartment early. Background: I work at home.
Some reasons to move early:
1) I'm a little concerned about finding an apartment because I've been working part time for the last few years (since there has been so much house stuff to deal with). I still have plenty of savings left and my credit score is in the 800s. And once I move, I can increase my hours - and I'll have the proceeds from a house sale. So I'd like to get this apartment ball rolling just in case there's a problem....and I'd like to have more options on where to live. 2) Most of my personal stuff would be moved out when the house shows...no extra clutter, better for staging. I wouldn't have to bring all my furniture with me, so there would still be homey things here. 3) I'd be able to get my cat settled. Prospective buyers wouldn't be seeing her stuff. I wouldn't have to worry about bringing her somewhere when the house is shown. Less stress for her as well. 4) Because I work at home, there would be fewer interruptions. (Someone told me that if I move out beforehand, it's easier for the realtor to show and more convenient for prospective buyers). 5) Better flow to the work day. I think I would concentrate better if I were separated from the chaos here. But, of course, there are drawbacks to this plan:
1) The house might not sell quickly. I might be paying rent and upkeep here for an extended amount of time. I can afford that, but I'd rather it not go on for too long. That said, after a move, my main expenses on the house would be, I think, lawn maintenance (and snow removal if it gets that far), oil, electricity, property taxes, and insurance. 2) A vacant house: target for break-ins or vandalism? I live in a safe neighborhood, so I'm not sure if that's a big concern or not. I wouldn't be moving far, so I could check the house every day. And I'd have a timer for lights and everything. Hmmm...
Thank you so, so much!
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april47
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Post by april47 on Jun 19, 2011 10:17:17 GMT -5
I got rid of everything before hand that I had to get rid of after selling anyway. I was moving from a 2 story house to an apartment. I sold what I could, gave to charity and threw out a ton of stuff BEFORE I put the house on the market and they took the pictures for MLS. I cleaned carpets, uncluttered, and filled picture holes. I took a cue from House Hunters on TV and made my kitchen counters shine. I kept it spotless the whole 6 weeks and hated it but it worked. On the plus side-It sure made it easy to pack and get out of there since my stuff was already organized and packed in the garage and unwanted stuff was gone already after the papers were signed.
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Deleted
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Post by Deleted on Jun 19, 2011 10:26:49 GMT -5
We sold into a very soft market in 2007 and got extremely lucky. Before putting it on the market with a realtor, I put the word out to our circle of friends with a cut price since there would be no realtor fees. We had someone interested in just a few days and had a contract signed within a week and closed 23 days later.
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dancinmama
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Post by dancinmama on Jun 19, 2011 11:38:57 GMT -5
Winter 1998: The house sold before the For Sale sign hit the front yard. Fall 2005: We listed it Labor Day weekend and had a contract by November 10th. Even then the relocation company was twisting our arm to lower the price and we refused. We ended up getting $10K less than what we were asking, but $9K more than what we really wanted. Both times we were in contract on the next home before the old home went on the market.
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Deleted
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Post by Deleted on Jun 19, 2011 18:01:16 GMT -5
Cranberry, Since you can financially swing it I would move. Your list of "cons" is much shorter than your "pros". And you can mitigate those cons. Stay engaged with the pricing. If the property isn't being shown then you know you're priced too high. Your 2nd con-I wouldn't worry too much about that given you're in a regular neighborhood. You'll probably visit more frequently but I would think 1x per week is probably fine. Don't forget that's why you have insurance.
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KaraBoo
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Post by KaraBoo on Jun 20, 2011 15:20:28 GMT -5
My parents just sold their house last week. It was on the market since September/October 2010 and had very few showings. They priced their house for what they wanted for it, not what others were offering them (it was paid off and they didn't have to sell, they just wanted to move closer to town).
The house they bought had been on the market for 15 months due to multiple maintenance issues. It needed a new roof, new a/c and new pool pumps. They were able to get the new house for the same price as the selling price of their old house.
The new owners of their old house will be in for a surprise though....other than a shorter drive, the other reason they wanted to move was because of their neighbors. They were crazy!! (The one to the South of them actually runs his property like a salvage yard - there is a partially dismantled air plane in his back yard!! There is also a 4 car garage w/second story that is full to the rafters of "junk".)
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tcu2003
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Post by tcu2003 on Jun 20, 2011 17:37:36 GMT -5
Good luck! We listed our house at the end of February, and had a contract on it around mid-March. We waited to put an offer on our new house until we had a signed contract, but we were moving states and didn't want to have two houses in two different states. And for what it's worth, it's all about having the right person look at the house, not how many peope you have. I think we only had 3 or 4 people look at our house, but we still got it sold. It went for less than what we listed it for, but more than the minimum we wanted out of it.
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constanz22
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Post by constanz22 on Jun 20, 2011 17:59:22 GMT -5
Wow, when I sold my house in 2008, it was on the market close to a year! It was/is a great little house, but, kind of a tough sell, I guess. I should've known since it had been on the market over a year when I bought it in 2001. The girl that bought it from me in '08 put it on the market 2 years and 2 months after she bought it from me, and it's been on the market for a year, again. She's only dropped the price $4,000 and she's asking way too much for it. It ticks me off every time I look at the listing, as it lists all of the great updates and improvements that I DID WHEN I OWNED IT! No mention of a new furnace, which I forked over cash for at closing to close the deal cuz she couldn't afford one and was gonna back out. I almost wish I'd never sold it...I loved the house, although city living could be a little annoying, living 3 miles from work was awesome!
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lynnerself
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Post by lynnerself on Jun 20, 2011 18:11:19 GMT -5
I know this is not relevant to today's market. We sold our house 12 years ago in a garage sale! Well, sort of. We were having a big garage/moving sale and our neighbors asked if we were selling the house and for how much and we agreed on a price right then and there. It was never listed.
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Regis
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Post by Regis on Jun 20, 2011 21:19:46 GMT -5
Winter 1992: less than 30 days Summer 2006: less than 30 days
Both times we set the price at 1-2% below what the realtor came up with using comparables. Sold each for another 1-2% below the asking price.
Definitely worth it to let your realtor stage your house if he/she is good at it.
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DVM gone riding
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Post by DVM gone riding on Jun 20, 2011 23:05:56 GMT -5
I think our last was 6 mos, we may have been a little high. this was JUST before the major crash, started listing the house in april/may and sold in oct. another couple of months and we would have put it up for rent.
personally I would be looking at apts but wouldn't sign a lease until I had an offer on the house. but then I am cheap and would hate to live in an apt with a paid for house sitting empty near by. and I know you can put enough holds in a closing contract to easily give yourself a month from offer to close if not two to three depending on the buyer.
I am also the one that said I wouldn't buy another house until mine sold even if that meant moving twice so to each their own.
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TheOtherMe
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Post by TheOtherMe on Jun 24, 2011 18:54:49 GMT -5
Came home from vacation to find a sold sign on neighbor's duplex. I think it was on the market since about March. I know of three price drops. Have no idea of the offer they accepted.
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Post by cranberry on Jun 26, 2011 18:33:58 GMT -5
It's been awhile since I checked in. Thanks for all the responses!
I asked my realtor about my moving early. She said it was my decision, but in her experience, it's harder to sell a vacant house. So for the time being, I've decided not to move too early.
So I've been plugging away at getting rid of stuff, cleaning, and taking care of improvements.
Some good news - I'm closer to getting a new client. If this gig works out, I'll be back to working full time before I move. Fingers crossed!
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Miss Tequila
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Post by Miss Tequila on Jun 26, 2011 18:54:19 GMT -5
We've sold several houses...our first house was sold a few weeks after listing (the first couple that looked at it bought it but it took them a few weeks to decide). That was in 2001. We sold two rental properties in 2006. One we asked and got top dollar for (it was in a great location) and the other was listed in the middle of the range of prices based on comps. Both went with a few weeks. We sold our house last June and it was on the market for 14 months!
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april47
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Post by april47 on Jun 26, 2011 19:00:57 GMT -5
I never could understand why its "better" not to have an empty house for selling purposes. I would much rather look at an empty house anyday than see other peoples junky furniture and clothes laying around. Now if your house looks like a model and the closets are neat and orderly then maybe. I have looked at houses that people lived in and it was distracting. There are always kids toys and cluttered counters. Its also easier to get a feel for the house pictures on the internet if the rooms are empty. Nothing worse than looking at a picture of someones unmade bed.
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Deleted
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Post by Deleted on Jun 26, 2011 19:24:41 GMT -5
I never could understand why its "better" not to have an empty house for selling purposes. I would much rather look at an empty house anyday than see other peoples junky furniture and clothes laying around. Now if your house looks like a model and the closets are neat and orderly then maybe. I have looked at houses that people lived in and it was distracting. There are always kids toys and cluttered counters. Its also easier to get a feel for the house pictures on the internet if the rooms are empty. Nothing worse than looking at a picture of someones unmade bed. because rooms look smaller without furniture in them....because people have a hard time figuring out what to use a room for if it isn't staged. If you looked at houses with cluttered counters and dirty clothes lying around, then those real estate agents weren't doing their job. My house was immaculate, uncluttered, and all my closets and cabinets were organized.
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Post by cranberry on Jun 26, 2011 19:58:18 GMT -5
I wouldn't think of showing my home with a cluttered counter or unmade bed. I've watched a few episodes of Sell This House and it amazes me that people do that!
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Deleted
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Post by Deleted on Jun 26, 2011 20:02:45 GMT -5
I wouldn't think of showing my home with a cluttered counter or unmade bed. I've watched a few episodes of Sell This House and it amazes me that people do that! I do think some of that is staged. However, when I was looking at houses in 2001 (total seller's market) it was amazing how people left their house for viewing.
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Deleted
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Post by Deleted on Jun 28, 2011 9:33:36 GMT -5
"when I was looking at houses in 2001 (total seller's market) it was amazing how people left their house for viewing."
LOL, I remember turning to my agent in early 1990 and saying, "If people wanted to sell their car they would at least wash it!"
The fact is that not everyone who has listed their house really wants to sell it. Divorce sales are especially nasty if one spouse doesn't want to leave. If people are losing a home through foreclosure, it may be the same situation with them hoping that if it doesn't sell they can stay rent free longer.
That said, I'm surprised that they agent didn't agree to Cranberry leaving. "Vacant on Lockbox" is an agent's favorite answer when it comes to showing instructions!
There's a middle ground, however. When I sold my former residence I left it vacant and partially staged it with a few family antiques in the living room. It sold before the sign went up at an open house. ;D
I would definitely do that again and highly recommend that route for Cranberry. I love my kitties but the the box is always an issue and many people are highly allergic to cats!
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Post by cranberry on Jul 1, 2011 9:22:43 GMT -5
Thanks folks. I'm leaning toward moving early and leaving some of the furnishings in the house to stage it. That way my cat is settled and I won't have too much disruption to my work life.
The question is: how early? I would like to put my house on the market by the end of July, but I think that's a little optimistic. It might be more like mid-August. Still, I'm plugging away and getting things done. Today the Salvation Army will pick up some things and this week a friend helped me change some wild wallpaper. I'm packing stuff away and decluttering. So far, so good.
I'm tentatively thinking about finding an apartment for August 1 or September 1. Still nervous that the house won't sell quickly. But I think I'd rather take that chance than have the stress of having to find a new place more quickly, or trying to work my life around the showings.
I guess there are pros and cons either way. But I think taking the less stressful route will be the way to go. Just need to figure out how early. Hmmmm....
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