sbv
Sophomore Member
Posts: 171
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Post by sbv on Feb 17, 2009 13:06:23 GMT -6
Guys, I'm interviewing for a job that sounds great, got my wife on board and am feeling good about my chances but there is one hiccup to the process and that is that the job is 4 hours away and my wife is terrified that we won't be able to sell our house should everything else pan out. I was wondering if any of you have been in a similar situation where you needed to sell your house in a matter of 3-5 months and if so do you have any tips for me? Anyone use websites like www.webuyhouses.com? We took a 100% loan out on it four years ago so we still owe pretty much what the house cost. Thanks. |
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Post by Coach JR on Feb 17, 2009 13:11:44 GMT -6
Guys, I'm interviewing for a job that sounds great, got my wife on board and am feeling good about my chances but there is one hiccup to the process and that is that the job is 4 hours away and my wife is terrified that we won't be able to sell our house should everything else pan out. I was wondering if any of you have been in a similar situation where you needed to sell your house in a matter of 3-5 months and if so do you have any tips for me? Anyone use websites like www.webuyhouses.com? We took a 100% loan out on it four years ago so we still owe pretty much what the house cost. Thanks. The housing market is really depressed in most areas these days. It's a buyers market and people that are in the market to buy are making outrageously low offers. Good luck with all of it. |
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coachgeorge51
Sophomore Member
Cliches and mottos is mindless verbal nonsense.
Posts: 151
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Post by coachgeorge51 on Feb 17, 2009 13:11:55 GMT -6
Don't do it - you may get stuck in a huge bind. The economy is not looking up. I will send you a private message because I need to share my personal story with you concerning this issue.
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Post by touchdownmaker on Feb 17, 2009 13:21:03 GMT -6
We did it. Sold our home in October and bought one a couple of weeks later. We took a 20000 dollar underbid on our asking price and did the same to the guys we bought from. Its a wash. Life has to go on man. You cant get out life alive so you may as well die trying to live it.
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coachgeorge51
Sophomore Member
Cliches and mottos is mindless verbal nonsense.
Posts: 151
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Post by coachgeorge51 on Feb 17, 2009 13:38:21 GMT -6
Different perspective - yes, but I think it depends on your location. You may have a better chance selling if you are in a residential area, near schools.
I think you were one of the lucky ones. Most people were and cannot bank on being that fortunate. I have lost over 50,000 in equity over the past year, so..........you do the math. Not a good situation.
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Post by senatorblutarsky on Feb 17, 2009 13:39:32 GMT -6
I took a big hit on my house in CO when I moved back here. I had to spend a few years recovering... but now I'm in good shape. Life has to go on man. You cant get out life alive so you may as well die trying to live it. Great line. In the end- where are you going to be the most happy (granted, you can't fully answer without actually doing the new job)? I committed career suicide by coming back here... and wouldn't change that decision for the world- even if I did have to ride the Harley out of necessity (gas$ and all) and not just for fun  By the way, it was the 3rd house I sold. Broke even, made a bit, lost a lot. Still, knowing what I know... I did the right thing. |
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Post by fatkicker on Feb 17, 2009 13:42:18 GMT -6
can be tough even when the market is good....
short story...
i lived on the mississippi coast for 2 years......bought house....gonna live there forever, coach ball, and enjoy the nice weather....and......
got on at (what i consider) a large district.....taught at middle school and coached at the high school....middle school principal didn't believe in and certainly didn't like "splitting time" between schools....so much for the "we're all in it together mentality".....
had to get out........put house on market.......house survived katrina...hardly had a scratch on it......i was at new job farther north and drove down after the hurricane in the hopes of finding a concrete slab......after all of the destruction down there and my house survived, i thought for sure it would sell.....still took 9 months....nothing like paying 2 house payments.....finally sold it and took a 6,000 dollar hit.......
my advice is.....put it on the market now....don't try to sell it yourself...i know we don't like paying the 6 percent to the realtor, but that's what they went to school to do, and they're good at it.......
second, do whatever you can to the house to improve the "curb appeal".......new paint...fresh flowers in the flower bed.....trim the yard real nice......maybe even steal some fertilizer from the football field supply to green the grass up......if you have fencing, replace boards that are messed up........set your house apart from the other houses in the neighborhood....
good luck!!!!
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Post by rocketcoach on Feb 17, 2009 13:52:41 GMT -6
Check with your lender to get pre-approved before you assume you will be able to buy again. I went to try to refinance a month ago when rates hit below 5% My lender said their standards had changed and I didn't qualify. I have good credit! And I have refinanced with them before. They have just tightened up so much. That is another area of home buying that has changed.
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Post by senatorblutarsky on Feb 17, 2009 15:49:25 GMT -6
do whatever you can to the house to improve the "curb appeal".......new paint...fresh flowers in the flower bed.....trim the yard real nice......maybe even steal some fertilizer from the football field supply to green the grass up......if you have fencing, replace boards that are messed up........set your house apart from the other houses in the neighborhood....
Very good advise there. My father was in real estate for years. That's what he always pushes.
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Post by coachjoe3 on Feb 17, 2009 20:39:00 GMT -6
Don't do it - you may get stuck in a huge bind. The economy is not looking up. I will send you a private message because I need to share my personal story with you concerning this issue. I gotta agree here. The new job sounds great, but how much will you enjoy it if you get into a huge bind that followed you from your last home? If the job isn't worth having that over your head, I wouldn't do it. I don't mean to presume anything and I wouldn't want to overextend myself here (not knowing your full situation), but there's a radio host/personal finance adviser/writer named Dave Ramsey who's books and advice can help people with decisions like this. www.daveramsey.comHis advice helped my wife and I out when we had a lot of medical debt, don't know if you heard of him, but his philosophy made sense to us. Good luck, Coach. |
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ccox16
Junior Member
Posts: 343
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Post by ccox16 on Feb 17, 2009 21:53:32 GMT -6
I took his course a while ago and it is awesome im completely debt free and it was kinda fun telling the creditors to shut up and this is what your getting.
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Post by coachcathey on Feb 17, 2009 22:21:11 GMT -6
Contact real estate agents in the area you are moving, find out information and come back with people in your area, or maybe even if you can get someone to take care of both in the area you are in.
That is my goal in the next year or so. My agent is going to sell ours and help us find something in the new area.
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Post by coachorr on Feb 17, 2009 22:52:01 GMT -6
Webuyhouses is a definite rip off.
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Post by realdawg on Feb 18, 2009 6:28:40 GMT -6
I know it sounds bad because you want to make a little money off your investment, but get what you owe out of it and move on. If you cant get what you owe out of it, have you considered renting it out?
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Post by touchdownmaker on Feb 18, 2009 7:12:04 GMT -6
true story---we had an early offer on our home that our realator shot down...was verbal only so understandable....rejection and instructions to put offer in writing closer to asking price turned off buyer....went weeks without a single walk through. wife in tears and fear...I said " we take next offer" and did. didnt even negotiate but in the market I didnt want to scare off a deal hunter. seriously, its a buyers market. same thing here, we made an offer here and gave the seller a whole list of things to fix before we bought (build cabinets, closet, shed, shingled shed, and more). Even had him mitigate for radon. You can buy and sell and I seriously hope people start doing it or we are in for a very bad time.
What is scary is that you can sit in your current job and fear moving on and still lose your job. part of my decision was that we couldnt afford to have me driving an hour to work with gas approaching 5 per gallon.
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coachgeorge51
Sophomore Member
Cliches and mottos is mindless verbal nonsense.
Posts: 151
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Post by coachgeorge51 on Feb 18, 2009 7:36:35 GMT -6
Don't do it...................I'm telling you from firsthand experience. It is horrible trying to coach, deal with new people, the stresses of the job, and trying to sell a home. It will hover over you day and night. You will be thinking about how to manage both lives at one time and when you come back to a water leak or the furnace goes out, you will be dealing with even more stress.
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Post by coachjoe3 on Feb 18, 2009 9:18:01 GMT -6
I took his course a while ago and it is awesome im completely debt free and it was kinda fun telling the creditors to shut up and this is what your getting. That is fun, huh?  |
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Post by tim914790 on Feb 18, 2009 11:03:11 GMT -6
Rent it out, that is what I do now. Just make sure it covers all or almost all of your mortgage.
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Post by fatkicker on Feb 18, 2009 11:29:27 GMT -6
ohhhhh nooooo
don't rent.....sell it......renters don't take care of the property like you do because they don't own it.....
you'll be spending more money in repairs than you would just paying the note on your own.....
chasing rent checks, fixing holes in the sheet rock, renter not cutting the grass.....lots of issues that create a whole new job/problem to deal with...
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Post by dubber on Feb 18, 2009 12:12:51 GMT -6
It sounds like you may be trying to do this on your own.....
....hire a Realtor
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Post by senatorblutarsky on Feb 18, 2009 13:12:41 GMT -6
ohhhhh nooooo
don't rent.....sell it......renters don't take care of the property like you do because they don't own it.....
you'll be spending more money in repairs than you would just paying the note on your own.....
chasing rent checks, fixing holes in the sheet rock, renter not cutting the grass.....lots of issues that create a whole new job/problem to deal with...
I rented mine for a year- that helped a lot. If you are going to rent do so through a real-estate agency or rental agency.
The bottom line in all this is you need to do what is best for you-
I didn't get worried about the money situation (and it was pretty bleak for a while)- I don't have a family either.
coachgeorge obviously had a horrific experience- that needs to be taken in to account too.
Basically know the worst case scenario- if you (and your family) can handle that and the job seems perfect- then go for it.
But there is the ugly side of this as well.
It didn't work well for coachgeorge.... it did for me... and that doesn't help you much...
But if you are going to sell, rent, whatever- have a realtors be involved. Unless you are in a big-time sellers market- that's the best bet by far.
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Post by touchdownmaker on Feb 18, 2009 15:11:09 GMT -6
Renting your home is not a bad idea, afterall if you take a new coaching gig somewhere else and it does not pan out...at least you still have a home to come back to.
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Post by Coach Huey on Feb 18, 2009 22:19:01 GMT -6
went 2 years with 2 house payments ... only lived in 1 .... it sucked. but, once we finally did sell our old house, man, did it feel like we got a huge raise ... lol
we rented it the first year, but it wasn't a great situation for us. we were 150 miles away and didn't have the best of tenants. gambled when the lease was up that we could sell it ... didn't work and had the house sit empty for a year before we were finally able to unload it.
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coachgeorge51
Sophomore Member
Cliches and mottos is mindless verbal nonsense.
Posts: 151
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Post by coachgeorge51 on Feb 19, 2009 7:55:17 GMT -6
How did you manage the stress levels involved with trying to sell it? Did you have a family at the time?
I have three young boys and my wife and I aren't willing to keep them in a rental house for another year or possibly two. My issue is that I now can't sell because my house has depreciated too low. I am in a horrible bind right now and my have call it quits and move back. We are going to make a decision by the end of the weekend.
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sbv
Sophomore Member
Posts: 171
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Post by sbv on Feb 19, 2009 8:00:20 GMT -6
For those of you who had their house sit empty for a year or so, how did you keep insurance on it? I think our current coverage says something about not having it covered if the house is vacant (my in-laws are our insurance agents as well). Thanks for all of the input guys. I'm interviewing for the job next week, and if it feels right I think I'm going to go for it because my wife is on board.
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coachgeorge51
Sophomore Member
Cliches and mottos is mindless verbal nonsense.
Posts: 151
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Post by coachgeorge51 on Feb 19, 2009 8:24:07 GMT -6
It depends on your coverage. I, too, fell uninsured and did not know it. I had to change my coverage to a rental house and pay more each month. The whole thing is terrible right now - I can't tell you guys enough my hope that none of you take on this pressure.
It will make your life a living nightmare in this economy. Sit tight and look for jobs within an 1 1/2 so at least you can commute far if you have to for a year or so. No one warned me about this last January when I took this job because the economy and housing market was not like this.
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sin86
Sophomore Member
Posts: 111
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Post by sin86 on Feb 20, 2009 21:05:49 GMT -6
We ended up having to take $25000 to closing and we were the seller. I don't regret it now but I had to take out all of our savings in order to move closer to my job. I now fear layoffs may be in the future. I don't know what to tell you but tread carefully.
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