Right now, I'm in the grips of a paralyzing fear that no matter what we do to fix this place up, or how low our initial sale price is, NOBODY will want it. This is mostly due to the fact that we live in a neighborhood that once held a bit of promise, but got caught up in the housing bubble to a ridiculous extent. It has one of the highest rates of foreclosures in this state because prices swelled FAR beyond what these houses could ever be worth. We have a LOT of equity in the place, so we can sell lower than a lot of other folks in the development, but then it becomes a dangerous game.
We can afford to sell lower than what most folks are asking, but if we price too low initially, buyers will assume there's something wrong with our house (it's fine, probably better than most since we've owned it since it was built, but too low a price might make people think otherwise, even though a low number would just be a way to try to get out faster). And I'm so sick and tired of this house, and SO familiar with all the ways it is lacking that I have a hard time imagining anyone else could possibly want to buy it.
I have this sick, sad premonition that we will be in a financial position to move and get out of here, but no one will buy our house, and we'll be stuck here for years. And while I'm glad we didn't buy into the bubble, I'm sad we didn't position ourselves to at least get out of here while the getting was good. I don't mind not making as much as we could have, but I'm terrified of not being able to get away at ALL.
I don't worry that we won't get enough for the house, I worry we won't get ANY offer. This market scares me, and our location in this market scares me even more. I just want to be gone, and it frightens me how little I'm willing to accept to get away from this place.
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2 comments:
Ahh, houses. I worry all the time too. Our house has devalued tens of thousands of dollars since we bought it, which scares me. The housing market in Washington crashed late, as in, right after we bought. Yay! We do want to stay in it, which is good, but if things didn't work out, we're screwed. Do you not want to rent it out and sell when/if prices go up?
The LAST thing I'd want to do is be a landlord/lady! Especially in this neighborhood. I'd rather wait or take a hit. I don't think prices are going to go up around here anytime soon. I just want someone to take it off our hands.
And I know prices might not reflect it, but I don't think you're screwed - your house is beautiful, as is the area around it!
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