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katehaney

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12:30 pm: are people stupid?
or am I deluded?

We've now had another potential buyer say that she doesn't want to do the work on our house.

WHAT WORK?

The house is 67 years old. It is not a pristine, newly-built house, but it's in good shape. There's nothing major wrong with it... there's not a whole lot minor wrong with it. It's infinitely livable now.

Do people think they can get into this market, in this neighborhood, at this price point, in a new house? Because if they do, they're in for a serious wake-up. You can't buy a new condo in this area for our offering price, never mind a single family. You could buy a newer condo, but not a new one that requires no work.

If you don't want to work on a house, here's a solution: rent.

I've looked at a couple of other houses in the neighborhood being offered at the same price. One is larger; one is the same size (the larger one, which is really ugly, has the same size lot as ours, so the yard is even tinier than ours; both houses are on a bad street with no parking and a distinctly lower-class feel).

Is it first-time buyers? Do they not realize that all houses need work, practically from day one?

When I bought this house, I saw that there were things that weren't perfect (and it was a lot less perfect then). My offer was below the listing price. The sellers fixed everything serious that the inspector found. I expect to do something similar when we buy our next house. Because no house is perfect.

We have another open house this Sunday. If we don't have any offers after that, I suspect we'll drop the price. Dammit.

Current Location: Boston
Current Mood: annoyedannoyed

Comments

[User Picture]
From:swingchickie
Date:June 5th, 2008 07:34 pm (UTC)
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i suspect that, in this market, people feel that they can ask for the moon and stars because they have an upper hand. probably some of them are first-time buyers who could never have bought a house in the boston area before... the others are experienced homeowners who remembered their last home purchase where they bought a run-down shack for $500K because the boston market was so crazy, and they don't want to do that again. either way, they're trying to get you to fix every minor crack because it's a buyer's market which equals "try to save as much money as possible".

bleh. good luck.
[User Picture]
From:katehaney
Date:June 5th, 2008 08:03 pm (UTC)

maybe so

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I just wish they'd give us a chance by putting in an offer. If they just say "I don't want to do the work," that leaves us nowhere. Maybe what they're worried about is something we can fix easily, or maybe it's something we're willing to either get done or pay for them to get done.

As it is, I don't even know what they think needs work. So I don't know if I should fix something or lower the price or just dismiss them as non-serious buyers.

Blargh.
[User Picture]
From:swingdoc
Date:June 5th, 2008 10:18 pm (UTC)

Re: maybe so

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it may also be the case that people are afraid to buy in this market because it could get worse, and no one wants to be in a position of wanting/needing to move and not being able to. maybe? i agree with jenn that people are thinking that they can get an unrealistic deal because it's a buyer's market. but, good houses are still moving, so i would say (well, talk to your realtor 'cause what the hell do i know about the boston market) hold tight and don't be too quick to drop your prices.

are you doing FSBO or do you have a realtor?
[User Picture]
From:katehaney
Date:June 5th, 2008 10:53 pm (UTC)

good point...

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We're working with a realtor, which I'm mostly happy about. We deliberately priced the house low - $30K less than we'd planned last fall - in the hopes that it'll move quickly. Part of my problem is that I have no idea how to define "quickly." There are houses that have been on the market around here for 6 months, yet I have friends who sold their condo 2 weeks after they lowered the price (not in Boston, but in the ex-urbs).

Our neighborhood is really, really good. If y'wanna live in Boston, and especially if you have a family, West Roxbury is The Place (suburban feel, but city services and convenience). Our street is great. The house (stoopid "buyers" aside) is in very good shape and I believe is reasonably priced.

:sigh: I guess we'll see.

I hate waiting. Can you tell?
From:skytad
Date:June 9th, 2008 06:49 pm (UTC)

yes...

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...people are stupid. Also, assholes.

Good luck, even though we don't want you to move. (and we understand that we never see you these days as it is...)

[User Picture]
From:katehaney
Date:June 9th, 2008 08:15 pm (UTC)

just think of us as a stop on your way to Tanglewood

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or NYC or something. It'll be a great place to stay if you're going to Northampton for a dance event! There are many, many marvelous farms in the area with farm stands. (And of course our place will be a destination all its own!)

Pretty much regardless of which town we end up in.

And yes, people are stupid and assholes. Dammit.

I keep telling myself: it's only been on the market 3 weeks. 3 weeks is not very long, in the housing scheme of things. Double dammit dammit.
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