My house isnt selling and I am an idiot

[Anonymous]

Anonymous wrote:Maybe learn to listen to the experts?

You seem very entitled.

HGTV and the distorted reality of social media will do that to folks.

The best rule of thumb is to ignore what others are posting on social media and know that most of it is fake or causing your friends and the influencers to drown in debt.

[Anonymous]

Can you rent your new fancy house and move back into your old house?

[Anonymous]

The adage “A Fool and his money are soon parted” comes to mind, lol.

Do you know how lucky you are to have mommy, daddy and realtor friend to help you out?

[Anonymous]

Anonymous wrote:Your house is worth what someone is willing to pay.

This is exactly right. If it's a condo, it is going to sit a while or require a drop in price. There are a lot of them and it's a buyers market for condos. Renting might be the way to go. If you don't want to manage it, a company can do that for you, but likely at a rate of 10% of the rent.

[Anonymous]

Anonymous wrote:Your greed caused you to have a stale house on the market.

+1

[Anonymous]

Anonymous wrote:"I asked my realtor if he could get those people who made the offer back but he told me that they have already bought and closed on a different house."

Wow 😳

Ha, that same happened to us, as the buyers. We also said no, that we had put in an offer for another house. The seller was indeed greedy.

[Anonymous]

Anonymous wrote:I guess I just want to rant at my own stupidity. I'm young (30) and dumb and I'm just feeling really down about this whole situation lately and it's stressing me out. I'll first state that we live out west, not in DC anymore.

It started in Feb when I was browsing Zillow and found a house I really wanted. It had exactly what I wanted and even though we weren't in the market to move, we decided to put in an offer and it was accepted. This house is only about 5 miles from where we currently live. This happened super fast - we got a bridge loan because we didn't even have our current house on the market nor was it in ready condition. We closed on the new house in only 2.5 weeks. I hated the flooring in this house so used some savings to put in new flooring on the bottom level before we started moving our stuff in. Also got some new appliances. I fully admit that this whole thing was a rash decision! I do love our new house, but in hindsight, I should've cooled my jets.

Now, I (wrongly) assumed the house would sell fast. A friend of mine sold her house, which is similar to our old house, within 2 days on the market. Our realtor said that ours should go soon, but my friend's house might have been an anomaly, as he told us the market is starting to cool down. Our asking price was $475 which I feel is within comps! I purchased the home in 2022 by myself (I wasn't married at the time) for $375 and have done some renovations to 2 of the bathrooms.

Within 3 days on the market, we got an offer, but IMO (at the time!!!), it was insulting. They offered 25K below asking. I said no. I did talk it over with my parents and they told me to accept it but I was stubborn. My husband also wanted to accept it.

Now here we are 60(!) days later, with NO other offers, hardly any interest. A handful of showings and a bunch of looky-loos at an open house we had last weekend. My realtor suggested a price cut a month ago and I reluctantly did it. Reduced by 15K but that was a month ago. I asked my realtor if he could get those people who made the offer back but he told me that they have already bought and closed on a different house. If I keep having to lower the price, I might not make any money on this house or worse yet, lose money.

I hear constant stuff on the local news here how the housing market is stalling out, with the exception of really high end (1.5Mil+) homes.

I'm now paying 2 mortgages, so much of my savings is gone due to remodeling & buying new appliances for the new house. I am freaking out. This is my first time selling a house and I guess I'm learning a hard life lesson. My husband OTOH doesn't have a care in the world, but I'm the main bread winner in our house.

How screwed am I?

I don't mean this in a jerky way at all. But maybe an assessment with a mental health care provider would be helpful. You weren't looking to buy a house, saw something on zillow, then ran out and bought it. People of modest means don't impulse buy houses. Impulse buying something that costs of hundreds of thousands of dollars is not, "young and dumb." It's something someone who is in a state of extreme mania does. perhaps bipolar?

[Anonymous]

OP you are not the only one to make this mistake. We had more seasoned sellers (wasn't their first rodeo) turn down what was an incredibly reasonable offer. They tried to drive it up claiming they got another offer. We move on, house stayed another few months before they decreased price and called us. We had already closed on another house. It ended up going contingent eventually for around what we offered, then offer fell through. Took a long time to sell after that and it went below what we offered. Such a shame because we had mentally moved in, but we did find another home and the sellers were so reasonable! The most important thing is that you learned your lesson for the next time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just rent out and manage it yourself.

Doesn't seem like OP would be a good landlord.

*nods grimly*