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Buying a house around here sucks!

Reli said:
You've gotta be a retarded seller if you allow the buyer's family life or physical appearance to sway your decision. I don't get it.
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I thought the same as you. Cash rules, what difference does it make on who lives in my old house after I leave? For some folks, that's the thought process, and for others, there is a lot of sentimental value in their home and they value that above $$. Kinda like selling your first loved bike to another new rider kinda feeling. Then I remembered how nice it felt to sell a bike for less money for a deserving buyer.

When the realtor told us to write up a quick letter on who we are, and why we want this house with a photo attached, I thought she was on crack. but it turns out, the person who was selling the house was a grandma, and loved the idea of letting her home to go a young family with a new baby. We didn't lie in our letter, just stated the facts, and it just clicked with her, and she wanted to help us out.

Our offer was for asking--not below (didn't want to offend her). I assume she had $$ since she had other properties to live in and I doubt $$ was the highest priority on her list.
 
If a "nice family" offers $10K less than a "not so nice" family, and you accept it, you're out $10K.

Here's what I think about that: Would you give $10K to a stranger, or even a friend, just because you like them and think their family is neat? Without expecting repayment? No.....so why do it to a home buyer?

If someone really wants to help people, they should find a cause they believe in, and give the $10K to that.
 
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$10k isn't alot of money to some people. $10k certainly isn't a lot compared to the average home price in the Ghey Area.
 
Reli said:
If a "nice family" offers $10K less than a "not so nice" family, and you accept it, you're out $10K.

Here's what I think about that: Would you give $10K to a stranger, or even a friend, just because you like them and think their family is neat? Without expecting repayment? No.....so why do it to a home buyer?

If someone really wants to help people, they should find a cause they believe in, and give the $10K to that.
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First off, everyone has a different financial situation. We can't assume that 10K or even 100K means the same for everyone.

I've specifically sold bikes for below my asking price to friends or even strangers that i've liked. I've declined to sell my bikes at my asking price because I know they'll probably bin it when they leave my house.

Obviously bikes and houses are not apples/apples, but the concept is the same.

Some folks have foundation in the community they they are selling in, and may turn down over asking price cash buyers because the property will be used for rental and investment purposes only.
 
Reli said:
If a "nice family" offers $10K less than a "not so nice" family, and you accept it, you're out $10K.
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So?. That's a privilege of being the seller. They are not obligated to sell to the highest bidder.

Especially in old established neighborhoods, money is not always the most important thing.

Retarded or not, it's their call to make.
 
Reli said:
True, but I still doubt those people would flat-out give $10K to one of their friends (unless it was a loan).
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A price reduction isn't the same as giving someone money.

Example... your favorite dildo is on sale for $29.99, down from $39.99. If you buy it, the retailer isn't giving you $10.00
 
Reli said:
I know this will sound insensitive, but the seller sounds like an old eccentric with more money than brains. Unless he built the house himself, what does he care what happens to it? Just take the highest offer with the highest confidence of closing, and call it a day.
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Before I answer I'd like to ask you a couple questions: do you have any children? How old are you? Do you now or have you ever owned a home?
 
Reli said:
If a "nice family" offers $10K less than a "not so nice" family, and you accept it, you're out $10K.

Here's what I think about that: Would you give $10K to a stranger, or even a friend, just because you like them and think their family is neat? Without expecting repayment? No.....so why do it to a home buyer?

If someone really wants to help people, they should find a cause they believe in, and give the $10K to that.
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Difference might be between money someone already has vs they are getting. A tad easier to let go of potential profit vs money already in the account.
 
aminalmutha said:
A price reduction isn't the same as giving someone money.

Example... your favorite dildo is on sale for $29.99, down from $39.99. If you buy it, the retailer isn't giving you $10.00
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Not really a fair comparison. The store offers that discount to everyone, and it's public knowledge.

IMO it is effectively a giveaway, IF the seller never bothers to try it. That "nice family" might be able to offer more.
 
Beauregard said:
Before I answer I'd like to ask you a couple questions: do you have any children? How old are you? Do you now or have you ever owned a home?
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I'm 42, no kids, and yes I own now and have sold one before. I merely sold to the highest bidder who also happened to be what I considered the most "sure thing".

I can understand someone being swayed by a family's situation, but my point still stands: Would you flat-out give a nice family $10K? Like, would you put an ad in the paper saying "Nice families call me, I will invite you over for an interview and give the winner $10K"

Sure, it's nice to see a family w/nice kids getting into a good school system, but there are plenty of other good school systems here in the BA. It's not the end of the world if they can't get into their favorite.
 
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MrIncredible said:
It's a horrible market to buy in. I would wait.
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This. Great time to sell, bad time to buy. If my kids were already in college, I would have sold my house this summer. The market is overheated. Trust me, the market will be depressed in 4-5 years, right about the time I want to sell.
 
Reli said:
I know this will sound insensitive, but the seller sounds like an old eccentric with more money than brains. Unless he built the house himself, what does he care what happens to it? Just take the highest offer with the highest confidence of closing, and call it a day.
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Some people like to help other people out, particularly young families, and some people care about the community they live in and their neighbors, and want to leave it a better place. Hence, the fairly common practice of considering more than simply the $$$ involved when deciding to whom to sell their house. And some people got a break from someone older and more affluent then them early in their lives and simply want to pass it along.
 
Reli said:
I'm 42, no kids, and yes I own now and have sold one before. I merely sold to the highest bidder who also happened to be what I considered the most "sure thing".

I can understand someone being swayed by a family's situation, but my point still stands: Would you flat-out give a nice family $10K? Like, would you put an ad in the paper saying "Nice families call me, I will invite you over for an interview and give the winner $10K"

Sure, it's nice to see a family w/nice kids getting into a good school system, but there are plenty of other good school systems here in the BA. It's not the end of the world if they can't get into their favorite.
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Sometimes, the seller was a very important part of the neighborhood and actually cares about what happens to his neighbors following the sale. It's one of those little human things that isn't necessarily logical but it happens.

Editing in: Archi hit it about the same time as me...
 
I hear ya OP. We went to an open house yesterday and submitted our offer within a few hours - only to hear that they already had two more offers :mad

I just know I am going to be priced out of that house as well. I don't want to end up living in a van by the river :(

Now how do I placate the Boss Lady until the market comes down. I must admit I have stored a lot of motorcycle parts in the place we live now and she gets ashamed when her friend come acalling and trip over fender parts I dumped in the common area last month.
 
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CHUM said:
its got to be a bubble...

bought my house in Dec 2012....and Zillows estimate has it $170K more than what we purchased it for...

there is no way my house jumped up that much in 7 months...even if Zillow was off $100K there is no way.

There may be a real nice affordable inventory coming up around the time school starts as everyone trying to make a butt load of $$ off their house start competing with each other....
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While I don't think Zillow is super accurate, I think they're right on the money with us. Ours was about $540k and we went into contract in May '11. Another house with our exact floorplan with less upgrades, and a year older just went for $625k. I just looked at Zillow and they have our estimate at $634k. Not a bad little chunk of equity after only two years.

Just talked to a car salesman who's also a realtor in Santa Clara. He said it's totally a seller's market at the moment. Just no inventory to sell, so what does come up goes fast and over asking price.
 
LabRat675 said:
I've been trying to find a permanent home for my cars and bikes and if I'm lucky enough room to store a bike trailer as well. Not only are the prices super high, but I swear there are people following me around to counter-offer the second I submit.
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Bear in mind that you are house shopping on what is the equivalent of Christmas Eve. Mid-summer, particularly with interests rates at the bottom, is not the time to be shopping unless you're willing to be very aggressive with your offers.

Wait until February if you want it easy.
 
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