Our House Sold!!!!

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Our House Sold!!!!
5
Wed, 05-17-2006 - 8:53am

What a relief! I know most people think I was being a nutcase about this because it sold in just over two weeks but it was a VERY LONG two weeks. We had over 30 showings which I know is good, but it was extremely stressful running home from work, trying to "stage" the house every day and then being told I had to pack up the car and be out of the house with our three kids for most of the day or evening during an incredibly busy time of year with school ending, etc. But anyway it is over (except for the inspection). We also put in an offer on a great house that is nearly 100K less than our sold price. We had sunk so much money into our house that once the first and second mortgage are paid off along with the commission and down payment on the new one we will only walk away with about 40K. Still that is enough to wipe out most if not all of our CC debt, buy a washer dryer (we're leaving our crappy ones and the sellers are taking theirs) and maybe bank a few thousand dollars.

The only downside is the mortgage will be pretty high even with 20 pecent down. I tried to work the numbers to put even more down but it would have to be A LOT more down to make any real difference in the monthly payment.The good news is the house we are buying is DONE. No carpet to rip out and floors to lay, no painting, no new countertops. I think a decorator lived there because all the little touches are great. That is where I get in trouble. I watch those Home and Garden shows and think ooooh I want to do that and then all those "little" projects start adding up. Anyway, I wish our mortgage payment was less but its doable and I'm hoping this will be the fresh start we need.

Jenny

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Wed, 05-17-2006 - 9:19am
Hi Jenny - that is such terrific news!

All my best,
Danni

iVillage Member
Registered: 12-12-2004
Wed, 05-17-2006 - 10:09am
Hi, Jenny--Congrats on your house selling! What a relief, eh? Here in CA, the house market is flat, and a lot of the markets elsewhere as well. One co-worker who is a real estate agent on the side, says that the ARM's are causing trouble for folks in addition to having pay the NEW mortgage, they're also having to pay the existing one, and foreclosures are inching upward. Hope you go with a fixed rate. WHiz.
Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Wed, 05-17-2006 - 11:32am
You're right about the flat market. Even though we had a lot of showings the buyers were incredibly picky. OUr agent said there were more houses on the market now than she had seen in 22 years in real estate. Here in Colorado -- which leads the nation in foreclosures -- there are tons of houses on the market because they have been foreclosed on. It is absolutely the zero down and variable rate mortgages that are doing it. We saw that even in the people who looked at our house. They would say, "Oh, it's a little too small or doesn't have enough bells and whistles so we'll just look at more expensive houses." Dangerous attitude if you ask me. We are going to try for a 30-year fixed rate or if we do an ARM it will have to be at least 10 years fixed. We got so burned on a variable rate line of credit on the house we just sold I won't make that mistake again. Thanks for the kind wishes. Jenny
iVillage Member
Registered: 08-23-2005
Wed, 05-17-2006 - 11:45am
Congrats! That is fantastic news!

lvhunnie2005

iVillage Member
Registered: 05-19-2004
Wed, 05-17-2006 - 4:28pm

Congratulations! What a big weight off of your shoulders!!!

Can you sprinkle some of that my way? LOL! Our's has been on the market since March with less than 10 showings. Ouch! My hair dresser said to bury a St. Anthony statue in my front yard upside down and our home will sell~~~ as silly as it sounds, I'm about ready to try it!!

Nicki