Real Estate Search....driving me nuts!

[DDD]

Yeah, I know this forum is S.A....sigh!...I'm going to need rehab if we don't find a house! House #9 the saga continues. husband and I went out of town to a baseball game Wednesday. That is the first time we have gone out of town alone in close to a year.

My cell rings and it is easy child/difficult child. He found a house on the internet that looks great. He calls our family friend Realtor (who is about my age, by the way) and is told that the house is not on the market. easy child/difficult child believes the man is wrong and so he calls the listing Realtor who says "would you like to meet me there at 4:30?" My cell rings and it is easy child/difficult child "Mama what am I suppose to do? I know I'm suppose to deal with X but he said it's not for sale and it is for sale." Yikes!

Here's a recap. He sees the house and there are three other people looking at the same time with separate Realtors. He loves it. It is listed at $42,000 AND has a pool etc. etc. My head says DETACH DDD! I tell him he is smart and if he thinks it is wise GO FOR IT! Phew/Whew! He submits an offer of $43,500 via the new Realtor. Seller (bank) has til Monday at 5 to respond.

READY??? Naw...you'll never guess this one, lol. On the computer this morning the house is shown as reduced to $39,000. OMG! Just when I think I've seen and heard it all around here they reduce a 3/2 2cg, fenced yard home in apparent primo condition with a clean functioning swimming pool??????

Even the Serenity Prayer isn't helping my blood pressure. I'll update you Monday. Crazy. DDD

 

[buddy]

I'd already be nuts after all you've gone through. Using substances could be welcome relief.

Hmmm, can't help but wonder whats wrong with that house.

Im so amazed at how vastly different housing prices are. My sister's tiny one bedroom condo with no updates sold for over 90,000 and there's association dues on top. She bought it for around 120,000 years ago.

 

[DDD]

Thanks. We have full right of inspections with the opportunity to withdraw. It's just so blankin' complex spending SIX months really working hard on the net, both of us driving and driving canvassing for new listings etc. and then each and every one has something WEIRD!

I know it sounds like a broken record BUT it's the banks that are just making up rules as they go..it seems. Out of all the homes we've seen this one looks most like "move in" condition and the swimming pool will be good exercise for his gout.
It seems like Twilight Zone!

We are not a wealthy community and there were a huge number of short sales and foreclosures which has given us a good chance at getting a decent home. The market is expected to pick up by six percent locally in 2013 and likely back on up in increments but he wants a "forever home". Guess if it's meant to be it will. Fingers crossed. DDD

 

[Marcie Mac]

If it makes you feel a little better DDD my best friend just moved from AZ to Ca. She found I don't know how many homes she wanted to buy and the banks were flat out playing games. She put bids in on more than a few homes - short sales were ok'd by the bank and this big bank just was putting her thru the wringer, and she in no way was being picky about the price - she actually can afford to put the cash on the table. One of brokers for the bank actually told her she had to move all of her accounts to them (she wouldn't because she HATES this bank and moved all of her loans/cash out of there) I heard on the news the other day that banks were preferring to sell to investors only - low interest rates will make them hold on to the homes till interest rates increase - hardly costs them anything.

Its really not right with the game playing

Marcie

 

[SuZir]

I have to admit that I don't know that much of our real estate markets. And what I know about yours is, that they are currently a mess.

So I just keep having my fingers crossed and hoping you find him a home soon and you can finally relax a little.

 

[DDD]

Thanks for the commiseration. I'm not all that "needy" a person but this search is like the straw on the camels back.
Coincidentally Monday is the day he is finally scheduled to have his first colonoscopy. It's taken awhile to get him OK'd for the test and although I'm not paniced about it I will feel better once there is an exam and analysis done. Maybe that is one of the reasons I am so hyped and tense. As always I am grateful for your friendship and support. DDD

PS: Marcie there is one major bank that is causing havoc particularly in Florida. three of the houses have been Bank of America's and they withdrew accepted offers for no apparent reason.

 

[Marcie Mac]

Thats them DDD - they are causing havoc here as well and doing the same thing here as well.

Marcie

 

[scent of cedar]

The house sounds perfect! I hope everything works out for them.

Barbara

 

[scent of cedar]

So this morning, I'm checking in to see whether you got the house or not. I'm thinking like, "Oh, that DDD! Enquiring minds would like to know how this all turned out and she hasn't posted for us, yet!"

And then I realized.

It's only Monday.

You don't know yet, either.

DDD, if it's this frustrating for me to wonder how everything turned out after only hearing about it in a posting...how crazy-making it must be for YOU!

My goodness.

Hope you hear something (good) today. I can't take the stress. :O)

Barbara

 

[DDD]

Geez, I don't want you all to stress out. The Twilight Zone continues. Yesterday (Monday) easy child/difficult child got a call and an email from the Realtor saying he had to sign a paper for the bank acknowledging that he is aware there is more than one offer on the property and he still is standing by his offer. GUESS WHO is the bank?? Today he called the Realtor and she replied that she telephoned the bank and they said "they haven't decided which offer to accept and will get back in a couple of days". WTH!

Really??? Does it Really??? make sense that they have two full cash offers that much over the asking price? I don't think so! Meanwhile he is innocently eagerly waiting to hear that he "won" the house. I can't figure out their game but I do know it is a game where they make the rules with no accountability. The game is sick, for sure. DDD

 

[DDD]

Last night...in the middle of the night...a lightbulb moment arrived. Maybe, just maybe, I have figured out a reason why they might prefer another purchaser. It's a bit of a stretch but at least I have come up with possibles.
Maybe because his credit rating is weak the bank fears he won't be able to fix what might need to be fixed and the other person is more likely to follow through. OR maybe the other person has really good credit and although they can afford cash they are willing to take out a new mortgage with "the" Bank netting them more profit.

Somehow I feel better just coming up with possible answers to all the questions. Sigh. DDD

 

[DDD]

Got the call yesterday. Bank sold to someone else. Also, yesterday I called to see if the house #8 was still off the market. I was told "it's sold and closed". I'm not sure how many weeks ago that trauma was but once again a great offer, followed by notice that there were more than one being considered, and then followed by notice that the house was "withdrawn from the market". It's crazy!

I have decided that I am going to put an ad in the paper entitled "House Wanted". I won't give blow by blows anymore as there are too many "blows". I'll only post when we have a house or commit HariKari.
DDD

 

[dstc_99]

That is so much BS! I wish you the best.

 

[Nancy]

The housing market in your area must be booming with so many buyers and closings. We don't have nearly that kind of movement here and it is very rare to have more than one offer on a house. I'm sorry this has been such a difficult process DDD.

 

[DDD]

Actually Nancy the market isn't really booming although there is an upward trend. Our problem is the low end housing market is HOT due to investors coming in from all over the place scooping up the short sales and foreclosures. Some, albeit few of the institutions, are limiting offers to prospective purchasers seeking homes....some will not accept offers for two or three weeks from investors. Bank of America is not one of those. Plus the Sellers (banks and holding co's) are holding all the cards by documenting that they don't have to respond at a specific time, they don't have to accept the highest or best offer, they don't provide acknowledgement of property faults etc. etc. etc. They are held harmless...period! The playing field is not fair. Actually half the time I'm not even sure if there is a field. Sigh.

by the way, I hate to be redundant but I newer SA members must be wondering WTH real estate has to do with her adult kid! If they read this post I hope they trust that after a decade or so around here you end up with BFFs who give support when you need it. Lordy, I have really needed it and am grateful for you all. DDD

 

[Nancy]

Oh don't worry DDD I think even our newest members are learning that fast.

 

[InsaneCdn]

Rule 1) If you can put the word "difficult child" into the sentence, then the topic belongs on this board.
difficult child + house = board topic!

Rule 2) If the topic is a situation you are in because you are the parent of a difficult child, then... that's definitely a board topic. (stress-related health problems, for example, or having to move because you spent all your money getting help for difficult child, or... whatever)

I'm not sure how the Bachelor threads fit in... LOL

 

[Castle Queen]

That's easy, Insane...."need to occasionally escape from difficult child!"

 

[Nancy]

LOL that's what I was going to say.

Rule 3) difficult child getting you down, driving you nuts, need an escape from difficult child reality? Watch the Bachelor and come to the board to discuss.

 

[DDD]

by the way, Nancy, did you read that Tenley and her SO are going their separate ways? LOL DDD