Quote:
Originally Posted by cosis
House has been on the market since Oct. 07 and only 1 offer......... reduced it 10k twice and still nothing.
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I just FINALLY was able to buy a new house. And if you've only went down 20k from your original price I think you're gonna find that at the moment you're not even close yet.
I went through 3 houses in Vegas that I was prepared to close on. The first two, the deals were set...then the bank appraised them: Both came in at over 200K less than what the owner COULD sell them for (upside down mortgage)
Deal was off.
I finally got sick of it and I'm closing on Sept. 22nd (flying straight from the Atlanta Forum to Vegas) on a great house. But the bank appraisal came in 100K less than what the owners wanted. I'm paying the overage out of pocket. That's how bad the housing market is.
On a side note...my current home is sold and I'm closing that deal with the buyer on Sept. 30th. I sold it for 80K less than I wanted. I had it on the market for 5 1/2 months.
Good luck bro. The market is a bloodbath right now.