Update on Condo Sale

The open house this past weekend went great! We had a lot of interest and we have been meeting with our realtor's to discuss the 3 or was it 4 offers which have come through. This includes the first guy who after our counteroffer originally did not want to change his original offer at all. His tune changed once he realized we were waiting to see what other's were offering. We have just sent a counteroffer to another guy, so we are waiting to get back the ratified contract - we have a verbal agreement at this time. You can tell it's definitely a buyer's market since we are already at a really low price (and I mean really low) for our area and he was still trying to beat us down - dickering over what would amount to him about $7.50 a month over his 30 year mortgage. Jason really wanted to tell this guy to go take a hike, but the realtor and I really liked the fact that he was coming in with a conventional mortgage and not a VA like the other 3 offers.

There was this one lady who we actually met at the open house and she was really interested in the condo and we were presented with a great offer and if it had been a conventional loan and not VA, we would have totally gone with her - a) because it was a great offer and b) we really liked her and would have like to see her move into our house. The thing with the VA loans is that the VA is really stringent on their appraisals and sometimes with a conventional you can get a little more lee-way and given the way the market is falling, our realtor did not think we would be able to have the condo appraise for what she was offering.

We are still selling under what everyone else is selling for, under our asking price and even under what our property was tax assessed for - sucks. It just really gets me that this has to come down to this because of all the stupidity that was allowed to go on in the past where sellers were allowed to ask for almost whatever they wanted and people who shouldn't have been approved for outrageous amounts were. This is now bringing the market way way down because of all the stupid buyers who bought places when they should not have been buying them. I don't' care that they were approved for that amount of money, where was their common sense - hmmm, I make this much a month and they want this much in mortgage, plus, duh, I have to still pay utilities, get back and forth to work and eat - yeah, all my paycheck can go towards just the mortgage - I will not have any emergencies come up, my car won't break down unexpectedly or anything like that. I really do blame the buyers as much as I blame the shoddy work ethics of the loan people who processed and approved their loans. Now people who need or want to sell are being forced to sell at under appreciated prices, because there is so many foreclosures and a glut of houses on the market. I find it funny that the government is only just now stepping in - they should have been stepping in way before this - what were they making money hand over fist just as well - probably. It sucks further because all these stupid asses (buyers) are getting help with their mortgages so they don't foreclose. People like me aren't getting helped, we are getting screwed - can you tell I feel strongly about this :-)

I guess some of this goes towards the fact that while we just bought a new house last year and it was heading to a buyers market not a sellers, we did not screw the people who were selling their place. We asked for reasonable things while giving their asking price. We did not try to screw them over, we could tell that they took good care of their house, etc. Maybe, we should have screwed them, but I'm glad we didn't two wrongs don't make a right and I feel good about our house buying experience. Though I can't say the same for Jason - lol - he is so mad at this guy's dickering that he has said he's taking out of the house everything that he can that's not conveying over - he says he's taking out every single light bulb out of the house. lol - i can't wait to see if this happens.

Anyways, I'm looking forward to finally having this over. I can't wait to have this extra money every month with not paying the two mortgages - though it just needs to got to the bills which have started to accumulate trying to keep up the two households.

So, please continue to keep fingers crossed that all goes well and we close soon.