It's official - selling my home

Discussion in 'Community' started by Chip NoVaMac, Jun 8, 2005.

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  1. Chip NoVaMac macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #1
    Been sort of a bad dream leading up to this. But yesterday the house was listed on the MLS system. So now begins the wait.

    Sort of have mixed feelings at this point. Not much of a choice for those that have followed the saga. :) And for those that know the DC area housing market, even with the equity it would be hard to find a decent place that I didn't end up house poor with.

    But, hey till the bubble bursts, I have a nice retirement fund going on. Also will take a few $ and do the travel I have wanted to do.
     
  2. Mr. Anderson Moderator emeritus

    Mr. Anderson

    Joined:
    Nov 1, 2001
    Location:
    VA
    #2
    ah, good luck then. We just sold our house in Old Town back in March. Now's definitely the time to move, somethings going to pop - its just so out of control. We were in our house less than 4 years and it doubled in price.

    I hope you have a better agent then our first one - we had to fire her, which was a fiasco.

    D
     
  3. Cooknn macrumors 68020

    Cooknn

    Joined:
    Aug 23, 2003
    Location:
    Fort Myers, FL
    #3
    If your market is anything like ours in SW Florida your home won't take long to sell if it's priced right. I haven't been up on the saga - what's the situation? Are you buying another home or are you going to rent :confused: You should get your agent to do a 360° virtual tour for you. I'd do one for you if I was in DC! Also, with today's MLS' you can upload a bunch of pictures to help you market the home. With IDX, your home will be visible to potential buyers all over the world via realtor websites.

    Good luck :)
     
  4. Platform macrumors 68030

    Platform

    Joined:
    Dec 30, 2004
  5. stubeeef macrumors 68030

    stubeeef

    Joined:
    Aug 10, 2004
    #5
    Hey, you may find out you sold at the peak.

    Good luck, invest wisely, have a good trip!

    Stu
     
  6. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #6
    Well, the latest on this is that the house hit the MLS at 4PM yesterday afternoon. And at 9PM yesterday I had a contract from a well qualified buyer at 8% over my asking price. And with no contingencies, and closing on or before 6/30/05! Then we had three more at my asking price, all three were less qualified, and had requirements for the sale.

    My ex left me with over $21K in bills that I will end up having to pay. And with the house prices in this area; I am going back to apartment living for a while. This might allow me to look elsewhere in the country, once I get my new life settled.

    Thanks for the tips and offers. In our area, the homes are selling so quick (5 hours in my case), that buyers aren't too worried about 3D for homes like mine.
     
  7. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #7
    That's my thinking. I can see maybe another 5 to 8% increase in my neighborhood before the prices either stabilizes or collapses. After closing, I can't look back though.
     
  8. Cooknn macrumors 68020

    Cooknn

    Joined:
    Aug 23, 2003
    Location:
    Fort Myers, FL
    #8
    Holy Cow Man - that ROCKS! 8% over asking price!? LMAO. Get those bills paid and put the other stuff behind you. I went through the same thing. Cost me a lot, but it's just part of my past now. You'll be fine :)
     
  9. mac-er macrumors 65816

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  10. evilernie macrumors 6502

    evilernie

    Joined:
    Jan 6, 2005
    #10
    DC Area

    I'm in the DC area too. We want to cash in on our house and get a larger one, but the problem is where do we go? We can't afford to buy another one around here.
     
  11. Cooknn macrumors 68020

    Cooknn

    Joined:
    Aug 23, 2003
    Location:
    Fort Myers, FL
    #11
    It's exactly the same down here in SW Florida. What the heck are our kids going to do? A freaking 1000 SqFt shoebox is going for over $200K :mad:
     
  12. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #12

    Thanks. Live and learn. Could have been worse. We could have been married, and then I would be a world of hurt right now. :eek: I was joking with a friend that there might be a PM G5 2.7 finding a place under my desk at the end of the month! :D
     
  13. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #13

    Our local politicians have an idea for "affordable" housing for the singles out there. They are called, I think, Single Occupancy Dwellings (SOD's for short). They will be 400 sq ft efficiencies. Sounds more like jail cells to me.
     
  14. Dr. Dastardly macrumors 65816

    Dr. Dastardly

    Joined:
    Jun 26, 2004
    Location:
    I live in a giant bucket!
    #14
    Dont know how thats gonna work. They will just go up in price anyway. I actually saw a 450 sq ft condo in Seattle thats SOLD for damn near 170,000.

    WTF?! Who buys this stuff?
     
  15. EJBasile macrumors 65816

    EJBasile

    Joined:
    Apr 20, 2004
    #15
    I love the real estate market. It so profitable. Just buy land and something, hold onto it and its value almost always goes up. For example, a 2 acre lot I was going to build my house on cost $105k, I sold in two years later with no house of course for $125k. My father bought RI beach property many many years ago for something like $35 an acre he tells me. He still owns some of the property and it is now worth a lot more- I'd a couple million for the amount of land he owns. Sorry for my little sidetrack.

    Good luck trying finding a house when you are ready.
     
  16. Cooknn macrumors 68020

    Cooknn

    Joined:
    Aug 23, 2003
    Location:
    Fort Myers, FL
    #16
    After my divorce I was relegated to a 990 SqFt condo that I bought 3 years ago for $63K. The last 5 sales all over $150K including one for $165K. Over $100,000 in 3 years :eek:
     
  17. absolut_mac macrumors 6502a

    absolut_mac

    Joined:
    Oct 30, 2003
    Location:
    Dallas, Texas
    #17
    Good luck. I hope that you get a decent price from an honest buyer.
     
  18. Mr. Anderson Moderator emeritus

    Mr. Anderson

    Joined:
    Nov 1, 2001
    Location:
    VA
    #18
    Got to love escalation clauses :D Congrats and good luck with the move.

    D
     
  19. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #19

    I would love to find the same value in the DC area, and not to have to worry about not going out before sunrise and being back home before sunset (or being 50 miles from DC). :eek:
     
  20. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #20
    Latest

    The contracts and addendum's have all be ratified. So now begins the HOA documentation 72 hour clock. And then followed by the appraisal for the buyers mortgage.
     
  21. jsw Moderator emeritus

    jsw

    Joined:
    Mar 16, 2004
    Location:
    Andover, MA
    #21
    Best of luck with the sale and with the rest of the "moving on" (in more than one sense) process. You've had to deal with much pain and unfairness, and I hope this is that start of a happier period in your life.

    I just now (after a search) saw the outcome of your quest to find a home for Chewie - I'm so happy it turned out well.

    It's amazing how bright the sunlight can be once the storm passes.
     
  22. Chip NoVaMac thread starter macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #22

    LOL... Just when I thought the light at the end of the tunnel was an on coming train; things look like there is actual daylight out there! :)

    As I mentioned in another post about "foot prints in the sand"; there is now two sets out on that beach. Thanks to Him and all of you here on MR for making the tough times easier. Now if I can only get through three bedrooms worth of boxes going into a one bed room apartment. :eek:
     
  23. jsw Moderator emeritus

    jsw

    Joined:
    Mar 16, 2004
    Location:
    Andover, MA
    #23
    We moved from a ~3K square foot, 2 car garage, big basement house to a ~1600 square foot, one car (if that) garage, puny little hole of a basement house.

    You'll be fine!
     
  24. Jschultz macrumors 6502a

    Jschultz

    Joined:
    Mar 14, 2005
    Location:
    Chicago, IL
    #24
    How did this real estate bubble start anyways? It's rediculous what some places are going for. My girlfriend and I would like to move to a quaint, little downtown area where the houses are roughly 1900-2000 sq.ft., but cost $550,000 or so.

    What are the causes? where does it end? Someone point me to a link or article that explains it?
     
  25. neildmitchell macrumors 6502a

    neildmitchell

    Joined:
    May 21, 2005
    #25
    I cant believe that D.C. is more $$$ than the SF bay area, thats F!n crazy.
    I read an article online and in Time magazine about the hot housing markets in the U.S., totally insane. I cant believe the tax in Ohio of all places.
     
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