When Homes go Bad!

Well it does appear that my home purchase just fell through.  I put the offer in on this place in January.  Yesterday the “negotiator”  placed a counter offer that was some 20-30 thousand above the original asking price. Not my original offer, but the original listing price.

I was asked if I wanted to counter offer something higher than my original offer.  I suppose that they expected me to do this.

After thinking about it, I said No.

There were a number of things that made the home itself a bad deal, but the biggest thing was that there were very large HOA fees attached to the home, and these fees never go away. And the HOA restrictions were not light.  I was consigned myself to the fees with the fact that the home itself was pretty much a bargain.

My Agent was very surprised and sent me an email trying to explain how the price was set by looking at other home that have sold in the area, etc etc etc….and such.  She thought I had fallen in love with the home and would be willing to pay much  more for it, since on my loan application it indicates that I qualified for a much larger loan than I wanted.   This just SMACKS of the old attitude of “get the most you can” which is why so many people are struggling in large palatial like homes they can not  keep up with..

I said No again.

I feel some freedom here in that I can save some more money, rent for one more year, and be in a much stronger position, as the market for housing will probably continue to go down in Florida.

I feel some annoyance for a few reasons.

* The realtor never called me to discuss things with me, only sent me a few emails, so I don’t think she ever worked too hard on this sale.  So I won’t be using her again.

*There will be no kittens in this apartment!  It is just too small.

* I was kind of looking forward to decorating and spending some of that money I have been saving.

I gotta admit though.  NOW,  I do have a lot of liquid cash saved…I might just take a trip somewhere that requires a passport!!!!

I am pleased that I was able to say no and not feel a complete loss, as I had been planning on owning that home for 3 months.  But I do feel a little loss!

Advertisements

14 thoughts on “When Homes go Bad!

  1. While I’m sure you were disappointed, It sounds like it may have been a blessing in disguise. I’m sure the right house will come along at the right time. Having an HOA is both good and bad. They can be royal pain sometimes.

    • I am actually relieved. I seem to have been put on my realtors email forwards list and have recieved mutiple “forwards” today including one claiming that President Obama is a Muslim. So I have just emailed her telling her that that was offensive to me and she had better remove me from those. I am delighted not to have supported her.

      • Doesn’t that crap just burn you up? My in-laws were sending stuff around like that for awhile there. I wrote back and asked them what their problem was. Needless to say they’ve treated me fairly coldly since then. And I’ve yet to get another email from them too. 😉

      • I found it MOST odd that a person in business would do that. I mean. She totally lost any future business from me. No doubt about it. See. I realize that there are a lot of people with these beliefs, but I would have assumed someone in business like real estate would know that to her clients she should appear neutral! So In my opinion she is not too bright, as well as politically misguided….

  2. Ugh. I’m sorry you didn’t get the house, but it does sound like this was just not meant to be for many different reasons. Save some more. Go someplace fun. Enjoy the dog. There will be more kittens, unfortunately there are always more kittens.

    • Always more kittens….thats the truth, and really I feel pretty good about the whole thing. of course her daughter works with me, soooo….it may be a bit awkward, but not too bad.

  3. Aw, I’m sorry you didn’t get the house: but maybe it was a favor to yourself. While I enjoy living in a house more than an apartment, the upkeep and money spent on it really tie you down: I can remember canceling vacations and big purchases like a new computer because the darn roof started leaking or the hot water heater blew up, and we had to put our money towards that. Real estate people and financial advisers love to tell you it’s all an investment, but in this economy you never really get your money back if you have to sell your house. A trip to Europe or Asia however is a lifetime of memories—I don’t ever regret traveling, no matter how broke I am at the moment. So I hope you take that trip, and you still get your kittens!

  4. There is a better house somewhere for you. It will come in time. HOA fees? Was this a condo? Houses are money suckers, BUT it’s yours, you can do what you want, paint the walls black if that floats your boat (just sayin’).

    As for the real estate agent sending you those emails, being a former RE agent myself, I would have absolutely BLASTED her. Told her EXACTLY what I thought of her, no politeness at all! For her to use your email that way, in my opinion, it’s unethical! You didn’t give her permission to use your email in such a ‘loose’ manner. I would report her to Florida’s Real Estate Board, but that’s just me. Likely the Board would tell her to cool it or else.
    Wow…this agent blows my mind….

    It’s ok to be sad that you didn’t get your place, and it’s ok to feel relief on the other hand. If you travel, enjoy yourself, sounds like you need a break from work!

    • Thanks Carol! I am sure that there is a better home situation out there. I think I shall continue to rent for one more year, and then look around again. Florida Real estate is in trouble, so I am sure that 12 months from now things won’t have changed too much.

      She did apologize a few more times about the email, but I too was very very surprised. But It did help me to see that I could def hire a better realtor next time around!

  5. infinite monkey theorem says:

    You dodged a bullet! As for the amount that banks will STILL loan…I thought we had learned something, but I guess I was being naive. Keep looking and best of luck!

    • It’s a funny thing, but I think the negotiator for the short sale looked at my income and such and decided to ask for more. Oddly…they seemed surprised that I didn’t want to just give them 40K more!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s