Frustrating Real Estate Market

[Burnadell]

Sounds frustrating!

What would you be suing for? Doesn't the buyer have the right to back out and lose his deposit (or whatever it's called)?

And yes, trying to buy a home or land in a hot market blows. People are dumb and snag properties without researching. That makes it near impossible for someone reasonable to buy. Forces risk on you.

One can sue for specific performance. No, the buyer does not have the right to back out without consequences...unless the seller allows them to. Most just let it drop without pushing options. Specific performance would be problematic and take time, this, most people don’t pursue that route. Still, they have every right to sue for actual damages.

[Black Ice]

Frustrating Real Estate Market

UPDATE: We had several showings this past week and we are under contract again. We received a very good offer today and just signed. Animals are still on the wall lol. I'm very thankful and pray this time we actually get to close. We are going to look at 3 houses tomorrow and hopefully can make a decision and put an offer in on one.

The animal on the wall thing was a sticking point with me and I was a about one month away from caving and pulling all my mounts down. I signed a contract this week and have inspection next week.

I’ve had 5 to 7 showings over 10 months.


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[Pineywoods]

The animal on the wall thing was a sticking point with me and I was a about one month away from caving and pulling all my mounts down. I signed a contract this week and have inspection next week.

I’ve had 5 to 7 showings over 10 months.


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Congrats!

[BigL]

Raise your price 30k. Then take a lowball offer 20-30k below asking. I'm being serious. People want a "deal" ... Makes my brain scramble but that's the way it works for everything else. Not sure on houses.

Depends where you live but in general I don't think that's true. When I bought my current house 3 years ago, the sellers had done that. They were on the market over 90 days and had lowered their price a few times. Other houses in the neighborhood were selling in 7-8 days of being listed at reasonable prices. When we bought they had just lowered it to what was a more reasonable price the day before which dropped it in the range we were looking for and why we were alerted to it. But because they had been on the market so long and the seller had been working in Houston for the last 6 months and just wanted to move it, we were able to drop the price some more and build in a lot of cash back items for things we wanted fixed or changed like a new $6000+ pool heater, new carpet, etc. Once we started asking their realtor about the time on market, you could tell they were willing to negotiate. We made our offer and they "thought about it over the weekend" and accepted it early the next week since they didn't get a better offer. In this case, pricing high for wiggle room really hurt them.


OP sorry that happened to you. I have some friends that happened to so I was very cautious of it when I sold my last house. I tried to rent it back for 3 months after the sale so I could look for another one but since they wanted to move in immediately, we ended up moving to an apartment for 6 months before buying. We wanted to make sure the sale was a done deal with cash in hand before we started looking and negotiating for the next one. That gave us plenty of time to find and buy a house + have all the remodeling that we wanted to do before we moved it. We also have a 32' travel trailer that we were willing to live in between houses if needed so we had options. Things like this happen for a reason. Embrace it as a good thing and not the right time or place for you and move on to the next one.

[Encinal]

I understand your frustration. We are trying to sell our house in Lubbock and unfortunately all the realtors that have shown our house said it is a 5 out of 5, BUT instead of putting granite in the kitchen and stuff we opted for double hung lifetime guarantee windows through out ($15,000+), plantation shutters ($5000+), xeriscaped front yard $9000+), front side yard pergola and landscaping all around with a 10' x 10' covered Redwood deck/pergola combo in the back. All they seem to focus on is "no granite!"
Unfortunately we made the house the way we wanted it and I guess our house does not fit anyone else. We have had 2 low ball offers ($15,000 and $20,000 below our asking price). Yes it is frustrating, fortunately we have already bought another house and the one in Lubbock is paid for, but I am not giving it away!

If granite is the problem, it doesnt cost 15k to put it in.

[Mudslinger]

If granite is the problem, it doesnt cost 15k to put it in.

I know granite does not cost that much, but it ain't getting done. House is now under contract and a go for closing soon!

[Miller]

Great news!

I have no idea of your area is the same as ours, but usually can't get your foot in the door with a contingent contract unless your current house has already appraised and out of the option period. Even then you are always down on the list when there is multiple offers...which is usually the case.


A lot of times in our area you have to try and get a lease back or find temporary housing before getting the next house.

Obviously, the market can dictate differently.

UPDATE: We had several showings this past week and we are under contract again. We received a very good offer today and just signed. Animals are still on the wall lol. I'm very thankful and pray this time we actually get to close. We are going to look at 3 houses tomorrow and hopefully can make a decision and put an offer in on one.

[be12hunt]

Yeah that’s total BS unless they have a really good reason.
Good luck moving forward

[Take Dead Aim]

My mounts and the dishes were the only things they didn’t buy!


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So the rug stayed.

[glen]

Hope everything goes well with this one. I am about to put my house on the market. All mounts out, no pictures, not much left in my house besides a TV and place to sleep. I’m not taking any chances with someone not liking dead critters and walking away

[Pineywoods]

Hope everything goes well with this one. I am about to put my house on the market. All mounts out, no pictures, not much left in my house besides a TV and place to sleep. I’m not taking any chances with someone not liking dead critters and walking away

I hope it goes well for you. We looked at three homes this afternoon. We found one on the lake in Point Blank that we loved. Only bad thing was the LSU and Saints paraphernalia all over the house. As an Aggie fan, I was highly offended....lol. But we made an offer anyway. Waiting to hear the outcome now.

[marshhunter]

Bumping an old thread.

Has anyone seen a downtick in the housing market, or are things rocking and rolling like it was in the late spring/early summer?

[glen]

Marsh- I’m going on the market tonight. I put the word out last week. I’ve had 4 people stop by the get a look. Hoping to be under contract quickly. I’ve been told the market is hot but I think it depends on area

[Mayhem]

Bumping an old thread.

Has anyone seen a downtick in the housing market, or are things rocking and rolling like it was in the late spring/early summer?

My wife is the purchasing/operation manager for Coventry homes(MHI) in Houston and they had a record month last month.


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[BlackoutRam2500]

Bumping an old thread.

Has anyone seen a downtick in the housing market, or are things rocking and rolling like it was in the late spring/early summer?

Construction is going like gangbusters in my neighborhood. With new people sitting on a waiting list to get started. I am about 30 minutes north of the Woodlands.

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