Just my two cents

Musings on social media and the world as I see it

On selling a home… it’s not a fun thing

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So every once in a while I feel the need to move away from the topic of social media to a more personal one. In January, my husband and I found a great house. It was the home of a friend’s mom, who sadly, passed away last year. The house has everything we could want, including an acre for the dogs to roam and run. Sounds great, right?

Well, not so much. Because you can’t BUY a home before you SELL a home these days. Apparently too many people have gotten the mortgage to buy a new home and then just walked away from the old home (hmmm… why didn’t I think of that?) After the housing market crash and the recession I still say we haven’t recovered from, people knew that they were underwater with their mortgages and could never afford to pay off their home, EVER. So banks will most likely not give you another mortgage while you still have one open. So that means you have to sell before you buy.

We bought our home in 2006 (yes, anyone who bought around that time knows where I’m going with this), we paid top dollar, and then the bottom fell out of the market. Now, our home is worth tens of thousands of dollars less then we paid for it, not to mention all the money we’ve put into it since then. I couldn’t begin to calculate it out because I would be sick. And now that it’s a buyer’s market, well, it’s not easy to sell. There are lots of homes out there, including short sales and foreclosures, that offer great homes at unbelievable prices, so how do you compete with that?

So here we are, two months into the sales process, and we’ve gone through three open houses, a couple handfuls of private showings, two canceled showings an hour beforehand, one offer that was accepted that was then rescinded, another offer expected that never came through, and we’ve dropped the asking price once (so far). Now I would probably have more patience (well, maybe), except our agreement to purchase our new home expires on April 30, when the sellers will then officially put that house on the market, which it isn’t now. So we now have one month to get a buyer before we potentially lose the house we love.

I’ve done some things on my part to put the house in its best light. I’ve done staging, rearranged things, took down pictures and packed away personal items, removed some clutter. The usual stuff. And of course I cleaned like a madwoman for every open house and showing. I baked goodies (chocolate chunk banana bread, snickerdoodle cookies, congo bars) for the open houses to get that homey smell in here, much to Mr. Jean’s delight. I even buried a statue of St. Joseph under our For Sale sign on the front lawn, and already have a place of honor picked out for him in the new home. This is apparently a commonly known help in selling a home. Even Bonnie, a fellow blogger and friend I met at SXSW a couple years back tells me she did this, and she is not even Catholic!

And so far, no luck. And needless to say, I’m getting discouraged. Through this process, I’ve come to  the conclusion that it’s just awful, and not one I recommend. In fact, I’ve already told Mr. Jean that if we ever get into that house, I am dying in that house.

If you’ve had a good experience selling your home, or have some encouraging words to share, please do! I’m in dire need of some optimism right now.  Oh, and if you’re looking for a house, I know of a great one for sale. Email me. We’ll talk.

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Author: Nancy Jean

I love reading, writing, music, the beach, and being a mom to two rescue dogs. My job is social media for health care.

2 thoughts on “On selling a home… it’s not a fun thing

  1. I know you are probably so tired of being told to hang in there, but fingers crossed that it all works out soon!! I can only imagine how frustrating it is. I bought in 2005, so I know how you feel in that respect — mine is currently worth about $100K less than I paid. Makes me feel sick when I think about it.

    • Ugh. So sorry Ellen. And I’m trying to hang in there. 😉 Thanks, as always, for taking the time to read! Here’s to hoping the value of homes starts going up dramatically!

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