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Thread: What a De-Cluttered House Looks Like

  1. #36
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    Default Re: What a De-Cluttered House Looks Like

    Did you get offers on your house Ted?

  2. #37
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    Default Re: What a De-Cluttered House Looks Like

    Quote Originally Posted by Dave Wright View Post
    Did you get offers on your house Ted?
    Thanks for asking.

    These days are strange. people who used to qualify for a 1.5 million dollar house now qualify for 800,000. There are no houses under 1.2 in Alameda, you have to drive 30 minutes to get a substandard house in a suspect hood for under 1m. Our house was listed a few hundred k under real value to create interest and bidding war. the market has changed in 6 weeks. We were delayed by putting it on the market with me getting Covid, a medical emergency with my wife with huge set back. Interest rates climbed to 5 to 6 percent and the tech stock market dropped. We worry we may have missed a window and will have to wait. What used to sell in a weekend now takes longer. The house is like a resort in a prime location within minutes to the San Francisco by a hourly ferry within a 7 min walk. Today we are suppose to receive offers by 5. I guess we are going to know tonight. We are not optimistic.

    If we are honest - cost of living and taxes make living in this bay boat heaven among the tech world really hard to afford. Covid did no favors to our area as many of those who used to live in the area for work now telecommute from outside the bay area.

    On the flip side - my wife got offered a great new, higher paying job last night with incredible benefits. It might be a reason to stick around and let go of the cool house being built near Tahoe among the mountains, or we try manage both houses for a while which will be a hard stretch.
    Last edited by Ted Hoppe; 06-21-2022 at 03:24 PM.
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  3. #38
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    Default Re: What a De-Cluttered House Looks Like

    Ted,

    good luck--I hope however it turns out, it will be a good thing for you.

    We worried about missing the hot market here in Wisconsin, and probably did miss it to some degree. But here you can get a pretty nice house for well under $200,000. Or, assuming our sale goes through, a large duplex with lots of character (but in somewhat tough shape) in a prime location (4 blocks to supermarket, 5 blocks to library, 2 blocks from local ice cream shoppe, 1 mile from high school, half mile from grade school) for a bit less than $150,000.

    House prices in the Bay area just make no sense to me. I love San Francisco, but how on earth does anyone afford to live there? At least, anyone on a public school teacher/non-profit organization employee income...

    Tom
    Ponoszenie konsekwencji!

    www.tompamperin.com

  4. #39
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    Default Re: What a De-Cluttered House Looks Like

    Quote Originally Posted by Dave Wright View Post
    Completely agree!!!

    I often become really aware of this when we're guests in certain homes - trifles, trinkets, baubles, knick knacks everywhere. Even in the bathroom, no space to put a toothbrush down on the counter.
    Exactly. Just being in that kind of cluttered space is stressful to me. Way back in high school I asked my mom if I could rearrange my room. Sure, she said. Then she got mad when it turned out that "rearranging" the room included removing all the furniture, hanging a hammock in a corner, and that was about it.

    Tom
    Ponoszenie konsekwencji!

    www.tompamperin.com

  5. #40
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    Default Re: What a De-Cluttered House Looks Like

    Quote Originally Posted by Ted Hoppe View Post
    Thanks for asking.

    These days are strange. people who used to qualify for a 1.5 million dollar house now qualify for 800,000. There are no houses under 1.2 in Alameda, you have to drive 30 minutes to get a substandard house in a suspect hood for under 1m. Our house was listed a few hundred k under real value to create interest and bidding war. the market has changed in 6 weeks. We were delayed by putting it on the market with me getting Covid, a medical emergency with my wife with huge set back. Interest rates climbed to 5 to 6 percent and the tech stock market dropped. We worry we may have missed a window and will have to wait. What used to sell in a weekend now takes longer. The house is like a resort in a prime location within minutes to the San Francisco by a hourly ferry within a 7 min walk. Today we are suppose to receive offers by 5. I guess we are going to know tonight. We are not optimistic.

    If we are honest - cost of living and taxes make living in this bay boat heaven among the tech world really hard to afford. Covid did no favors to our area as many of those who used to live in the area for work now telecommute from outside the bay area.

    On the flip side - my wife got offered a great new, higher paying job last night with incredible benefits. It might be a reason to stick around and let go of the cool house being built near Tahoe among the mountains, or we try manage both houses for a while which will be a hard stretch.
    I'm optimistic for you Ted, I think you'll get offers today as planned. You live in an area where demand is still high and high prices are accepted as normal.

    The secret to selling a house is setting a realistic price that seems reasonable to potential buyers. Following this rule we've always had acceptable offers in less than a week. But yes, things have changed since May.

    We live in a neighborhood of new houses. We had ours built two years ago for roughly 500K. Our next door neighbors did the same, only 3 years ago, for a similar 500K. They put the house on the market June 1st for 759K. They accepted an offer for 739K within a week and the sale is being processed. Three months ago they would have received multiple offers, perhaps for as high as 770K.

    In marked contrast, another neighbor 4 houses away, with similar 3 year old 500K house, but a less desirable lot, put his house on the market for 820K February 1st. The consensus among neighbors was that this was way too high. He set a price that was simply not acceptable, despite the buying frenzy.

    After a month he dropped the price to 805K, but the house had gone "cold" and the price was still too high.

    He continued price dropping, 800K, 795K, 790K, 785k, 780K, 775K, no bites. We wondered what was wrong with this man and his agent. No savvy, no market skills.

    Last week he dropped the price to 760K, a week after our next door neighbor accepted the 739K offer.

    The reasonably priced 759K house sold quickly by accepting a 739K offer. That's 239K over what they paid three years ago. Essentially they got their money back with some profit, essentially living free for three years.

    The other neighbor doesn't seem to realize that this almost identical house on a superior lot has now set the comparable price basis. His 760K asking price is still too high. Interest rates and inflation fears are increasing. I believe that he might be able to sell for at most 720K.

    By setting an unrealistic 820 K price 5 months ago he has wasted 5 months of his time and buggered the sales process. He really wants to move. That "want" may now be as unrealistic as his initial sales price. He's going to have to accept less or stay in the house. That's how it goes, there are no guarantees.

  6. #41
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    Nov 2006
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    NorCAL
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    Default Re: What a De-Cluttered House Looks Like

    No offers on our house after 2 weekends of showings. This is a first since 2008 where property took 30 days to sell in the bay area. Real estate haven't dropped in value but the number of buyers have been reduced. The market has changed and our realtor was caught unaware of the changes. We are considering what we should do next.

    I am going to make a quality video package to promote the house in the days to come. It will be linked to the next realtor package.
    Without friends none of this is possible.

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