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Selling Our Home Part 1…

March 15, 2011

We bought our first house, our current house, back in July 2008.

Our House when it was for sale in 2008

We were actually in the neighborhood to look at an entirely other end unit – and this was after months of thinking we wanted a “single family home” with a yard and such. We opened up our thoughts to end units and started to wrap our brains around how awesome no maintenance, landscapers and a pool would be – and it would be in our price range!

While looking at the house we now call the “Swamp House” (because it backs up to a retaining pond) we decided we would also take a  “quick look” at the other one down the road. Our Realtor at the time was thrilled we were open minded finally and got us into it within 30 minutes. It took all of two minutes once we were inside to be wowed and sold.

This house had all the upgrades, no carpets downstairs (a requirement of ours), the living room was in the back, it had a pretty back splash, it was CLEAN, and it was a little out of our price range.

But me being me – I wanted it. I needed it. So we talked numbers and negotiated. There were tears shed in a Barnes and Noble parking lot while we tried to make offers and counter offers one night via phone.

Then… it was ours! We got it! We bought it for less then the “comps” around us and even got some of the closing costs thrown in.  We were thrilled! Our first house was under way!

Fast forward to not even three years later and we are selling.

Since July 2008 we have maintained our pretty house with very little effort – we’ve kept it cleaned, up dated some mulch a few times, added some shelving and most importantly we have loved it.

We still have our complaints – like how we never fully decorated, it’s not really outfitted with a proper guest room, the downstairs is always colder then upstairs and the fire place is really just a pretty and expensive light show. But I love it.

We have spent the past few weeks getting it ready to sell; We’ve cleaned it out, we’ve removed all evidence that Finley and Squirtle have lived there and even already taken a load of junk to Wilmington. We’ve started sprucing up the outside of the house with potted plants and fluffed garden beds. I even hung up our tiny American flag.

What we weren’t prepared for was the market. That pesky “housing market” people keep mentioning on the news that I thought we were immune to turns out to be heavily effecting us.

Not only does it seem that we purchased at the top of the market but we haven’t really been in it long enough to have built any equity.  The long short of it is we need to be prepared to actually PAY to sell our house.

I had never heard of this before – I guess in my fun world I thought the seller always made money. no matter what. I thought that just because some middle unit town homes with no upgrades were selling for way below market value that it wouldn’t affect our bigger prettier house. I was wrong.  We are not above the market and we are not as special as I thought.

Cue big tears and stomping and general behavior that one would expect from me after coming to this realization…

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6 Comments leave one →
  1. March 15, 2011 8:25 am

    I’m sorry. As as real estate attorney, I know what a hard time it is to sell a house. I will keep my fingers crossed for you guys and hope that you can sell you home for a great price very soon. Good luck!

  2. March 15, 2011 9:07 am

    First, congrats on all your upcoming changes! It definitely sounds like an exciting and crazy time!! We bought our condo in June ’08. We still love it and fit in it but sometimes we do dream about bigger and better things. With the market as it is, it would be tough to get what we wanted. My fingers are crossed for you – and, even if you bleed a little money, in the end you could rationalize it as an investment in your future (aka: the cost involved in getting this fabulous new job!).

  3. March 15, 2011 12:46 pm

    Your story sounds just like ours. We bought our “starter home” (1220 sq ft) in April of 2008 and sold it in March 2010 (because a FREAKING HIGHWAY was going through our backyard) and lived with an awesome friend in between the closings of old and new houses – 51 days, but who was counting? We ended up losing $27k at the end of the day and paid all our buyers costs from closing to inspection – oh, and they financed 102% so they had no $ for anything else. We bought our dream home and it was all worth it. Sure, I’m out a German sports car, but that’s the way the housing game goes nowadays….it’s ugly, but it’s real.

    Hope you find your dream house here in Wilmington…..and when it’s all over, I know you’ll have a smile on your face.

  4. March 15, 2011 3:00 pm

    Sorry about your place.
    We bought our Condo in March 2008 — since then we’ve lost about 40% value. :(
    We’re looking to short-sell it because we want to move cities.

  5. March 15, 2011 9:18 pm

    I feel your pain. Jon and I moved from Michigan 2.5 years ago and his house is still for sale (it’s been for sale for one year). We’ve only gotten 1 offer on it (yes, we’ve lowered the price numerous times) and it was so crazy low that we had to say no. We will have to pay to sell our house, too. :(

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  1. Selling Our Home Part 2… « Oui, Bien Sur!

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