Friday, January 6, 2012

What a List!

Phew!  We met with our future listing agent for the first time last night.  We knew the news wouldn't be good, but secretly hoped that we would be pleasantly surprised.  Well, let's just say we were right the first time.  The news is not good.  It's not terrible, but it's not good.

As we suspected knew without a doubt, we paid between $14,000 and $20,000 too much for our house.  Another way of saying that is we paid between 20% and 28% too much.  Both ways hurt pretty badly.  There are two tiny bits of silver lining.  First, we've been here for a while, so we've paid down the principal a bit.  Second, we've significantly improved the interior.  Without those two facts, we'd probably be stuck here indefinitely. 

We're still not out of hot water, though.  In order to have a chance at selling where we need to sell to come out clean (walking away from closing without any money changing hands), we've got a long list of things to do before mid-March, our target time to list.  And by long, I mean 20+ not minor things to do to the house.  Deep breath. 

Most of the things that need to be done are very inexpensive, or even free since we already have materials(read: paint) on hand.  Only two of the items cost $50 or more.  Unfortunately, one of those items will be at least $2000.  Any guesses what that might be?  You got it...the roof. 

If I could talk to the nineteen year old me right now, I'd have some pretty strong words.  First of all, I'd tell myself to get a decent realtor.  Like, not my completely inexperienced self.  I'd also tell myself to find a house that's actually a good deal, not just one we can afford.  When it comes down to it, I'd tell myself that it would be better to rent until I grow a brain.  One that's not solely ruled by emotion.  Heck, I'd probably even tell myself to quit watching Property Ladder, Flip That House, Flip This House, and every other investment real estate show out there.  Those things are hazardous to your (financial) health.


Oh well, in five years, I'm sure I'll have another set of decisions to bemoan.  In the meantime, I guess I had better just do the best I can with what I've given myself.

Another silver lining about this list from h*** is that I'll have plenty to share with you guys!  For now, though, I'm off to start my "homework".  ha ha.


1 comment:

  1. I'm sorry to hear about the not so good news, but at least it's not as bad as it could be. :) I tried what you said with the helicopter part on MW2 (look at me using the lingo), and you're right. It was very satisfying.