And so it begins, just listed a house

[seriousthistime]

Mar 11, 2022 14:13:09 GMT -5 Knee Deep in Water Chloe said:

Sale is kaput.
Showings resume tomorrow.

  So sorry.

Best of luck to you with the next buyer.  Does it at least take the pressure off, in regard to finding a new place/staying in the RV for a little less time? 

[Knee Deep in Water Chloe]

Official "unconditional disapproval" documents have been signed. 

Our agent has re-read the inspection report. There's actually nothing in there about the foundation being unsound or even questionable. It just says that there's a bit of water through one of the access points and it actually notes that it had been raining for a week straight. Her theory is that the buyers changed their mind and played around to get out of the contract without it costing them any escrow cash. 

We have a showing scheduled for 10:00am Saturday. 

[CCL]

I'm sorry this one didn't work out Chloe. I'm sure you'll quickly get more offers.

Do you have a sump pump in the crawlspace? If not, can you put one in to eliminate the water issues?

[minnesotapaintlady]

My brother and SIL just sold their house in 2 days for 86K over asking and the only contingency is it passes the well/septic inspection. We think the realtor messed up when pricing it because they had offers coming in immediately.  They paid 260K for it 5 years ago and were asking 450K. My brother did a ton of work to it though.  Well...hopefully it's sold.  As we've all seen it's not sold until it's sold. 

Found the listing for their house.  I'm going to miss the parties there.   The kitchen counters are concrete.  My brother poured them himself in the dining room and it took like 6 guys to set them in place.

www.realtor.com/realestateandhomes-detail/11860-E-259th-St_Elko_MN_55020_M78163-67706 

[Knee Deep in Water Chloe]

We have an offer on our house. DH says it’s full price with an escalation clause.

[finnime]

We're marching forward to closing in mid-April. An offer with no contingencies is a great stress reliever.

[tractor]

The house we sold looks completely different only a few weeks in. They have rearranged/installed new doors and windows, stripped off the old, and replaced all the siding with a really cool earthy green color, and are now starting to reconfigure all the inside rooms.

I suspect they may try to get it done quick, then flip it yet this spring while the markets still hot. Only time will tell, but they have made everything look so much better than I ever would have been able to.

[Opti]

Mar 13, 2022 20:55:21 GMT -5 minnesotapaintlady said:

My brother and SIL just sold their house in 2 days for 86K over asking and the only contingency is it passes the well/septic inspection. We think the realtor messed up when pricing it because they had offers coming in immediately.  They paid 260K for it 5 years ago and were asking 450K. My brother did a ton of work to it though.  Well...hopefully it's sold.  As we've all seen it's not sold until it's sold. 

Found the listing for their house.  I'm going to miss the parties there.   The kitchen counters are concrete.  My brother poured them himself in the dining room and it took like 6 guys to set them in place.

www.realtor.com/realestateandhomes-detail/11860-E-259th-St_Elko_MN_55020_M78163-67706 

The backyard with the deck looks especially nice. I'm jealous of the wine fridge downstairs too.

[Lizard Queen]

I'm not a fan of concrete countertops, but that is the best application of them I've ever seen. They look perfect in there.

[jerseygirl]

MPL that’s a beautiful house (except the snow!). Both price and taxes won’t ever be seen here in north NJ

[CCL]

A Realtor was telling me today some of the houses around here are getting 25+ offers on them. I'm wondering, who would want to come here?

[laterbloomer]

Mar 19, 2022 20:57:22 GMT -5 CCL said:

A Realtor was telling me today some of the houses around here are getting 25+ offers on them. I'm wondering, who would want to come here?

WFH has really changed up the real estate market. People that work in Toronto but now WFH are moving out of the city and making a lot of money for the difference they make selling and buying. Then they are taking that money and getting investment properties even further out. I live in one of the smaller cities they are investing in. They are pushing rents and sales prices way up.

[minnesotapaintlady]

Mar 19, 2022 9:35:49 GMT -5 Lizard Queen said:

I'm not a fan of concrete countertops, but that is the best application of them I've ever seen. They look perfect in there.

He's so talented.  It seems like he can do pretty much anything.

[happyhoix]

Mar 19, 2022 21:06:42 GMT -5 laterbloomer said:

Mar 19, 2022 20:57:22 GMT -5 CCL said:

A Realtor was telling me today some of the houses around here are getting 25+ offers on them. I'm wondering, who would want to come here?

WFH has really changed up the real estate market. People that work in Toronto but now WFH are moving out of the city and making a lot of money for the difference they make selling and buying. Then they are taking that money and getting investment properties even further out. I live in one of the smaller cities they are investing in. They are pushing rents and sales prices way up.

Market is crazy around here. Houses only last a few days on the market. A realtor friend said we’ve had a flood of WFH people moving here from high COL places in the north, looking for a more temperate climate. I’ve never seen such a low volume of homes for sale.

[TheOtherMe]

Not a single house on my street sold in the last 18 months.  We usually have turnover of an average of 2 or 3 houses a year.  Some years it's been 5 or 6.  It amazes me that no one on the street sold.

[tractor]

Mar 23, 2022 7:38:54 GMT -5 TheOtherMe said:

Not a single house on my street sold in the last 18 months.  We usually have turnover of an average of 2 or 3 houses a year.  Some years it's been 5 or 6.  It amazes me that no one on the street sold.

That is strange, must be an area people are trying to move away from and no one else sees the value in those homes. Things are still red hot around here, but it will be interesting to see if the interest rate increase slows anyone down.

Most who see 4% as high never experience 12% as "normal" like my wife and I did.

[NomoreDramaQ1015]

Mar 23, 2022 7:38:54 GMT -5 TheOtherMe said:

Not a single house on my street sold in the last 18 months.  We usually have turnover of an average of 2 or 3 houses a year.  Some years it's been 5 or 6.  It amazes me that no one on the street sold.

I'm seeing a lot more abandoned houses in my area.   There are some on the market that have been there awhile.

Nobody wants to move here, which I 100% get.  Those that do live here are moving either to the East end or into one of the suburb areas that are being built by fly by night contractors outside of city limits because the property taxes are "cheaper".

Which is funny because my BIL did that and bought a $500k house.  Well the city just annexed more of his property so the taxes went up another $200 a month. 

Meanwhile mine for my supposed crappy West end city plot barely went up $100 A YEAR.

[raeoflyte]

Mar 23, 2022 7:38:54 GMT -5 TheOtherMe said:

Not a single house on my street sold in the last 18 months.  We usually have turnover of an average of 2 or 3 houses a year.  Some years it's been 5 or 6.  It amazes me that no one on the street sold.

One of our recent speakers said that average time in home has doubled in the last 10 years and a lot more construction to age in place that will continue to stretch those time frames. Overall not bad things, but an interesting piece of the low inventory.

[TheOtherMe]

This is in NE Iowa, a rural suburb of Dubuque.  My subdivision is about 12-15 years old.  There is currently one house on the market in the city and new builds have ground to a halt.

The next town over is courting new subdivisions and there are plans in place to build that out until the town touches Dubuque.  

We don't have factories or any type of large business except the school district for employment.   There are locally owned places that I do use for services because I want them to be here.


Most people drive to Dubuque to work. 

I think in the past, the city council was not forward looking because they didn't court factories, etc. or zone land for business.  We are pretty much land locked.


I am happy here and don't plan to move. 

[bean29]

Mar 23, 2022 8:38:54 GMT -5 raeoflyte said:

Mar 23, 2022 7:38:54 GMT -5 TheOtherMe said:

Not a single house on my street sold in the last 18 months.  We usually have turnover of an average of 2 or 3 houses a year.  Some years it's been 5 or 6.  It amazes me that no one on the street sold.

One of our recent speakers said that average time in home has doubled in the last 10 years and a lot more construction to age in place that will continue to stretch those time frames. Overall not bad things, but an interesting piece of the low inventory.

What is the average time in a home?  We have a ranch, we did build to age in place.  It is about 15 years old.  I am willing to sell/start over, but I think we would lose on lot size and convenience if we sell.  We may well bet better off to just update out house, but we will probably end up spending a good 100,000.  If we would build, we would spend similar $$ to even 100,000 more anyways, but now we have a fully finished basement, landscaped yard and pavers/fire pit etc that is already in place.

Unless we build, it is hard to see how to manage the sell/buy scenario in such a tight market.  

[raeoflyte]

Mar 23, 2022 9:32:26 GMT -5 bean29 said:

Mar 23, 2022 8:38:54 GMT -5 raeoflyte said:

One of our recent speakers said that average time in home has doubled in the last 10 years and a lot more construction to age in place that will continue to stretch those time frames. Overall not bad things, but an interesting piece of the low inventory.

What is the average time in a home?  We have a ranch, we did build to age in place.  It is about 15 years old.  I am willing to sell/start over, but I think we would lose on lot size and convenience if we sell.  We may well bet better off to just update out house, but we will probably end up spending a good 100,000.  If we would build, we would spend similar $$ to even 100,000 more anyways, but now we have a fully finished basement, landscaped yard and pavers/fire pit etc that is already in place.

Unless we build, it is hard to see how to manage the sell/buy scenario in such a tight market.  

The #'s he gave went from just over 4 years in 2008 to more than 9 years now. That's a national average as I understand it. Seems super short but plenty of people did move a lot more as I recall from early y2k.

[TheOtherMe]

This house is the longest I have ever lived in one place.  The next longest I owned a house was 10 years.  Before that, I sold every house after 2 or 3 years.  I know why I sold the first one but I really didn't have a good reason to sell any but the one I sold where I had lived for 10 years.  With my retirement income I could no longer afford the payments.  

It would be paid off by now but is assessed at over $1 million.  I couldn't pay the insurance, flood insurance and property taxes so I'm happy I don't have a fantasy of buying in the subdivision.

[steph08]

Mar 23, 2022 10:54:46 GMT -5 raeoflyte said:

Mar 23, 2022 9:32:26 GMT -5 bean29 said:

What is the average time in a home?  We have a ranch, we did build to age in place.  It is about 15 years old.  I am willing to sell/start over, but I think we would lose on lot size and convenience if we sell.  We may well bet better off to just update out house, but we will probably end up spending a good 100,000.  If we would build, we would spend similar $$ to even 100,000 more anyways, but now we have a fully finished basement, landscaped yard and pavers/fire pit etc that is already in place.

Unless we build, it is hard to see how to manage the sell/buy scenario in such a tight market.  

The #'s he gave went from just over 4 years in 2008 to more than 9 years now. That's a national average as I understand it. Seems super short but plenty of people did move a lot more as I recall from early y2k.

That's super interesting. After we got married, we lived in our first house for 5 years (me, DH had been there 11) and then 7 years in our second house. We built our current house last year and did so to age in place (built a ranch, high ceilings, only one step up to the front porch and then a step up into the house, etc).

[Knee Deep in Water Chloe]

We seem to have reached final agreement with the buyers of our house. 
They asked for a list of repairs that would have come to  $23,000 to $25,000. 
Instead of asking us to actually take care of them, they asked us to reduce the selling price by $12,450. 
We immediately agreed. 
Closing should occur on April 23rd. 

[Knee Deep in Water Chloe]

We signed our portion of the closing paperwork today. Gross proceeds are $279K.

[Knee Deep in Water Chloe]

Also, I misunderstood that closing was April 23. Something else happened on the 23rd, but I’m not sure what. This Monday was always closing.