I live, write, and garden in the PNW with my husband of 28 years, disabled daughter, adult son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!Well, it's been 8 months since we listed our house and the biggest thing seems to be that while people like the price and the house, they don't like the drive from town. *sighs* That was one of the primary reasons we moved to town. And apparently there are a lot of foreclosures out there that are much cheaper, but not in as good a shape.
Our real estate agent is recommending we drop the price by $10K. I hate to do that, but at this point I don't really see another option. If the house were in town it would have sold by now and probably for much higher than we are asking, which is only $129K.
$119K, if we could get it, would still allow us to pay the guy who did the repairs (he's waiting until the house sells no matter how long it takes), pay off the van, and give us a decent down payment for a new house. Just not as decent as $129K would. With the van paid off, though, we could save that money to add to a down payment and hold off a while longer on buying something.
Of course at this point I don't know if we could even get $119K. Despite how beautiful the place is, and how pretty the neighborhood is, that 25 mile drive is tough for a lot of people. We are going to have them add to our listing that it is only an 8 minute walk to the county transit stop. Maybe that will help encourage some folks that they can take the bus for their commute instead of having to drive it themselves.
I think if we don't get an offer after it has been on the market for a year, we're going to have to look into renting it out. I don't really want to be a landlord, but I hate that it is sitting empty. We do have someone who has offered to rent it for $1000 a month. That is the going rate for rentals out there of that size, so I feel it is fair. Of course that offer was a few months ago, so I am not even sure if it would still be on the table.
I wish the place would sell. It is so frustrating sitting here feeling like it never will. I am almost at the point where I feel like buying a piece of land where I want it, and having the house moved. I love the house, except for the outside color. It is the location that I am done with. And we could probably sell the raw land much easier. Since the house and land is paid for, just having to buy raw land and get a house moving loan would not be the worst thing in the world.
It just seems like it would be a world of hassle.
Well, keep us in your prayers folks, that we sell that albatross. I'd sure appreciate it.
Feeling a Little Frustrated
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One popular method here in Cali is to list low and create a bidding war.. not sure if that would work there.
Adding that it is close to the bus stop is a good idea.
Fingers Crossed for you!
June 19th, 2014 at 10:56 am 1403175386
You don't have to list it for the price I'm asking you think you could get. But would someone buy it at $109k? What would you pay now looking at the location, size, lot, etc of the house? Would you buy it for $119k? Would you buy it for $109? Would you buy it for $99k?