"Wannabe" future fulltimers, can't sell the house

[60Vette]

[QUOTE=RickO;1737285]Hi and welcome to the forum.

I'm sure your'e aware that one of your challenges is that your house is on acreage and not everyone want' that "isolation".
__________________________________________________ ____________________
How offering a house for sale with 8 acres of land is "one of your challenges" is quite puzzling to me. But then, I'm slower than most. I'd prefer not to see my neighbor standing at his grill, beer in hand scratching himself - but that's me.

Please exercise do diligence before you even think about renting your home. Last resort comes to mind.

Taking back the paper? You want to become a mortgage institution? Can you handle someone defaulting then busting up the place for good measure?

Selling a home and dealing with potential buyers can be a less than pleasant experience. It took a year for us and seemed at times like it would never happen.

Like Rick and others have offered, be patient and be flexible. It will happen. That aerial shot idea is terrific!

Best of luck to you.

[RickO]

[QUOTE=60Vette;1786069]

Originally Posted by RickO

Hi and welcome to the forum.

I'm sure your'e aware that one of your challenges is that your house is on acreage and not everyone want' that "isolation".
__________________________________________________ ____________________
How offering a house for sale with 8 acres of land is "one of your challenges" is quite puzzling to me. But then, I'm slower than most. I'd prefer not to see my neighbor standing at his grill, beer in hand scratching himself - but that's me.

I couldn't agree more. If it were up to me, I'd still be living on that isolated hilltop I used to have in Idaho!

But... when time came to sell it... I learned that not everyone feels the same way we do.

Rick

[roadrunning]

Have you considered trying to sell it yourself? I've sold our last three houses that way but I was able to list it for a good price as I didn't have the extra commission and fees. I just sold the one we're in currently with a bunch of nonrefundable $$$ down close in dec.
With the money we got down we bought an Entegra Anthem and will be traveling/living in it for a while.

[bsirby]

Originally Posted by bdickson

We also considered renting out the house, but when we added up mortgage, taxes, utilities and property management fees the rent we would have to charge was unreasonably high.

We did not want to rent out our house either, but we couldn't pay the mortgage and travel at the same time. We were able to hire our realtor, there are a lot of them that handle rental properties, He charged us 1 months rent to advertise, do a credit check, interview the folks and draw up the lease. No further charges. The renter is responsible for utilities so we pay mortgage, taxes and insurance. We don't get rich from this arrangement, but our mortgage is covered and the house is taken care of. The present renters would like to buy the house next year so we will finally be out from under. Good luck to you.

[Big B]

Originally Posted by TomJ.

Hello all! The wife an I want to get a class A and hit the road so bad we can taste it. Problem #1, We can't seem to sell the house. We have de-cluttered, listed with a real good local Realtor who is with a multi national firm at the suggested price and after 10 months and about a dozen lookers, nothing. I guess my question is, do any of you that have already done this have any idea's as to what else we can do if anything to get the house sold. It is a beautiful place on 5 acres in Glade Hill VA. only about 8 miles from town. We simply don't understand it. I know that real estate markets are different in different parts of the country but any and all suggestions would be appreciated. Hope to join you all soon!! Tom & Fran J.

Tom. I'd recommend a new agent. 10 months is way too long

I found I can rent my house in So Calif cover mortgage, maintenance, manager and still have a little $ positive. We just refi'd to 3.75 and took cash put. My point is you may want to look at a new agent

[namtrag]

I am in the same boat. I put my life savings (60k) down on my current house in 2006. I have paid about 20k in principal since, and the house is still worth 35k less than I owe.

My only way out is to stay and continue paying money that goes down the drain, or let the bank have the house back in a few years when my stepdaughter is out on her own.

It's so frustrating.

[TXiceman]

An acreage sale is more difficult as some buyers look at the $$/sq.ft and an acreage home will generally be more than a city lot due to the land value. Have you had you realtor pull comps in your area?

We sold our place last April in just under 3 weeks at full asking price and a clean contract. It was 1900 sq.ft and on a wooded acre, over sized 2 car garage, 11' x 40' RV carport and a 14' x 24' work shop. We figured it would be at least 6 months due to past acreage sales.

But Houston area is a hot real estate market now.

It sounds like you have not had a lot of showings for the time on the market. You may need to find a more active agent. We called the local area realtors group and ask for the names of the top 3 producers in our area and interviewed all three. We liked the attitude of the #1 agent and signed up with here. She staged the house which did not need much and put together a great photo spread for the website.

Best of luck.

Ken

[Dog Folks]

Originally Posted by TomJ.

Hello all! The wife an I want to get a class A and hit the road so bad we can taste it. Problem #1, We can't seem to sell the house.
We have de-cluttered, listed with a real good local Realtor who is with a multi national firm at the suggested price and after 10 months and about a dozen lookers, nothing.
I guess my question is, do any of you that have already done this have any idea's as to what else we can do if anything to get the house sold. It is a beautiful place on 5 acres in Glade Hill VA. only about 8 miles from town. We simply don't understand it. I know that real estate markets are different in different parts of the country but any and all suggestions would be appreciated.
Hope to join you all soon!!
Tom & Fran J.

I know the market has changed, but here is how I sold five houses over the years, all in less than 30 days. One in just two days and the last one in just eight!

Spend the money, and get two independent, professional appraisals. That is what your property is really worth and is the maximum most lenders will approve. Set the selling price at that price and work from there. This is the accurate value, not what a realtor or someone else thinks they can sell it for.

Did I sell a house at a few thousand less than if I held out? Sure, but I also did not pay months of mortgage, and maintenance on a house I no longer needed.

[Sky_Boss]

Originally Posted by Dog Folks

...Spend the money, and get two independent, professional appraisals. That is what your property is really worth and is the maximum most lenders will approve. Set the selling price at that price and work from there. This is the accurate value, not what a realtor or someone else thinks they can sell it for.

Did I sell a house at a few thousand less than if I held out? Sure, but I also did not pay months of mortgage, and maintenance on a house I no longer needed.

The smart voice to listen to! Sandee and I tried to eek out more money at first and that only cost us about $800/mo in upkeep and such. We finally sold our home after about 6 months at what we could have sold it for in the first week.

Now...that doesn't fix being up-side-down which we were not. The problem is too many folks attach too much emotion in setting a price. It is natural but I guarantee you that the buyer is normally not so attached to buying something as you are.