If buying real estate were a movie, it would be a comedy-slash-horror-slash-drama. We've only seriously been looking for less than a month - March 15th was the "official" start date. But, in this time we've encountered and learned so much!
The Commedy: That would be the selling price that some people are asking for. It isn't so much the asking price, because we know that the asking price is negotiable. Instead, it's the asking price for the condition of a home.
We expect every bungalow to need some repair; either in the form of a new roof or maybe updating to the kitchen or even adding air conditioning. We don't expect them to need a new roof, a new furnace and air conditioning, asbestos removal, and sewer pipes that need to be fixed (all told approximately $60K in repairs BEFORE you do any updating).
The Horror: That seller's agents can have personalities that liken them to Dr. Jekyl and Mr. Hyde. Or that they're liars - bald faced liars. First there was the seller's agent on the house that we put an offer on and found out that there would be $60K in repairs before we even did any updating to the place. He insulted my husband (ahem the BUYER), was belligerent to our home inspector, lied to my agent, KEPT OUR EARNEST MONEY, and then when we decided not to buy that piece of crap house remarked that "oh, they didn't want to buy the house anyway!"
But wait, there's more. Then there's the latest seller's agent. We found a house in Niles and made a descent offer with a contingency and a closing date of June 30th. Since we were told by the seller's agent that the couple in the house was building a new one and had a place to stay if we closed sooner than August, we thought we were okay. We were also told that they would take a contingency. The counter offer came back picking on the closing date, the contingency, and offering a selling price $4,000 less than the list price.
What I don't understand is why a couple with 2 children who is building a new home and needs to sell their current house, would be this ridiculous. I mean, the closing could be extended and built into the final contract by the attorneys. In this marketing, a BUYER's market, not taking a contingency usually wrecks a perfectly good deal. When you look at the MLS inventory for Chicago and Niles, the average time that a condo or house is on the market has increased from what it was 2 years ago. I don't think some people realize that.
The Drama: That would be the entire process. You're dealing with real estate agent commissions and people's homes which often times is an extension of them. If you don't offer the right price then they're offended. If you want to do an inspection the seller's agent may get all nutso on you because you'll actually find things that are wrong with the house that you cannot live with. Plus, you're dealing with money and that makes everyone a bit nutso.
We haven't been perfect angels in this whole thing either. This experience - and it's not over yet - has caused a lot of upheaval in our normal lives. The kids' nap times are affected and I'm stressed out which causes David to be stressed. The thing is, we're not even half way through this adventure!
Green Thumb
Okay, so maybe I won't be testing "The Secret" this weekend. I worked late - till 11:00 pm - on Friday but the client has gone live on their project successfully. Our normal schedule has been thrown off a bit and we even missed the boys' Gymboree class. So, "The Secret" test will be postponed until Monday.
Yesterday the sun was shining and it was really nice outside. I took a look at our balcony and it looked "grungy" and in need of some sprucing up. So, I went to the Home Depot in search of some greenery. After spending $125.00 (who thought plants were so expensive), our balcony now looks peppy. Even the lights that we strung on the balcony years ago but rarely light help make the balcony look cozy. Pictures to come later.
I planted some New Guinea Impatiens, Sweet Potato Vines, and some ground cover whose name I cannot remember. I also bought a potted strawberry plant which probably won't give us the huge strawberries that we seen in the market, but the pot was cute and I've always loved the dark green fuzzy leaves of the strawberry plant. David's chive plant that he was trying to care for was a casualty in my gardening zeal, so he had to go out and get a new one. It's just as well - I think that chive plant was really catnip.
Posted at 10:25 AM in Misc Commentary | Permalink | Comments (0)