I am a victim of the housing crisis

[jgold47]

not really too sure where I said I wouldnt live up to my debts. I dont want to short sale or forclose for exactly that reason

not really too sure where I was whiney to my realtor. Is it itoo much to ask that you actually do work on a property your trying to list? Make sure the listing is correct, with good pictures and accurate information? am I being whiney if I fire you after you spend 6 months making excuses, everything from the color of my carpet to the market, to the price (which she set), gas prices to drive to the property, etc...as to why you only had 6 people in the house in that time? When I ask for rental options, you bring me people with credit, or at least a bank account? My realtor has acted unprofessional, and against what I would think would be best practices from the get go. I have several other people back home who are realtors who agree that she had done a terrible job. Candidly, she worked out of an office 30 minutes away across town and never should have taken my listing. There are a lot of realtors out there who are struggling right now, and I would think that any chance you get you should give it 100% if not more in this market. Instead I got a lazy complacent realtor, which isnt really acceptable.

not too sure where I said I was a victim for not turning a profit. I bought the house with an implied profit, I am just claiming somewhat tounge in cheek that I am a victim because no one is looking for houses like mine right now, because no one can get loans and everyone seems to have it in their heads, rightly or wrongly that this is a terrible time to buy. as I have said repeatedly, since I havnet sold the house yet, not sure if I am a victim.

For the people suggesting I rent, my new realtor's company offers a property management service. She has asked that I give her 6 months to try again (her style is night and day with the other realtors) with a whole new strategy, then we will reconsider renting.

 

[jefe]

Originally Posted by jgold47

I am just claiming somewhat tounge in cheek that I am a victim
Perhaps I failed to recognize the 'tongue in cheek' nature of the OP, but from the first few pages I noted much in the way of complaining about a realtor, complaining about lack of buyers, complaining about the situation in general. Did you not choose this realtor and sign a listing agreement? Perhaps the burden of due diligence is with you? Also, I'm not sure how much a realtor can really help right now. The house is in the Detroit metro - not sure there's a worse place to own (maybe south florida).

 

[jgold47]

Originally Posted by jefe

Perhaps I failed to recognize the 'tongue in cheek' nature of the OP, but from the first few pages I noted much in the way of complaining about a realtor, complaining about lack of buyers, complaining about the situation in general. Did you not choose this realtor and sign a listing agreement? Perhaps the burden of due diligence is with you?

Also, I'm not sure how much a realtor can really help right now. The house is in the Detroit metro - not sure there's a worse place to own (maybe south florida).

Well it has to be tounge in cheek as I have not sold the house yet, therefor I am not sure if I am a victim yet. Yes I have been complaining about the lack of buyers, realtor, general market factors, and in a way that does make me a victim in one sense, as I am trying to sell the house and cannot because of these things

And candidly, my realtor came recommended, I am not sure even if I asked for references (do people do this for a realtor? Certainly should next time.) that I would have 'uncovered' for lack of a better word what I did.

lastly, the house is in Pittsburgh, not Detroit. And from people in both markets, I shouldnt have experianced what I did. People in Michigan say that the total # of transactions are down, but not as much as the $value of the transactoins they are doing. Western PA has always been a very flat and stable market, and other realtors are saying obviously its taking longer to sell, but there are still people out looking. I am not sure if I said this in any of my previous posts, but if my realtor had 100 people a month looking and no one buying, I would be happy as a clam. My biggest issue was the lack of people who came to see my house. This new realtor is #1 in sales in the area, has a huge local office about 5 minutes from my house, does the TV shows, etc... They have a huge built in client base of potential buyers, since they likely work with people in my neighborhood.

 

[Tarmac]

It's simple. The housing market crashed + you are in need of selling a house = there is no way around losing. You will lose. You cannot win in this scenario.

 

[fredfred]

But the fact that you chose the 1st realtor first and didn't chose the one with the built in buying base and the huge nearby office... who's fault is that again? Certainly not yours. You are the victim. You didn't do anything wrong.

If you didn't want to lose money, you could have rented. But you didn't. You wanted the market to go up so you'd get more money. Who's fault is it that you bought instead of rented? Which realtor or other person caused you to do that again?

Take some f-in responsbility. I feel sorry for the realtor who you probably abused... 100 people a month checking out your place? In that market? Yeah.. .sure. Good luck.

 

[jgold47]

Originally Posted by fredfred

But the fact that you chose the 1st realtor first and didn't chose the one with the built in buying base and the huge nearby office... who's fault is that again? Certainly not yours. You are the victim. You didn't do anything wrong.
I went to a friends aunt. I am not from pittsburgh and as I said, I only lived there for 8 months. I figured that was as good of a way as any. Initally I asked her just to give me her thoughts on selling the house, but she assured me that she could handle a listing across town. How is her failure my fault? I am not buying your logic at all.

Originally Posted by fredfred

If you didn't want to lose money, you could have rented. But you didn't. You wanted the market to go up so you'd get more money. Who's fault is it that you bought instead of rented? Which realtor or other person caused you to do that again?
You obviously are not reading anything I have written, I dont want the market to go up, I could care less if I make a dime, and I am even willing to lose money. It was no ones fault I bought a house, I dont recall blaming anyone for that. Was it a bad decision? Sure in retrospect, but at the time it was a solid decision. And I would love to rent the place out, if of any of the 5 or 6 people who expressed interest were able to pay me a fair rental rate, had credit, references, etc...

 

[jefe]

Originally Posted by fredfred

But the fact that you chose the 1st realtor first and didn't chose the one with the built in buying base and the huge nearby office... who's fault is that again? Certainly not yours. You are the victim. You didn't do anything wrong. If you didn't want to lose money, you could have rented. But you didn't. You wanted the market to go up so you'd get more money. Who's fault is it that you bought instead of rented? Which realtor or other person caused you to do that again? Take some f-in responsbility. I feel sorry for the realtor who you probably abused... 100 people a month checking out your place? In that market? Yeah.. .sure. Good luck.
+1 Also, Pittsburgh real estate sucks as much as Detroit real estate. Perhaps marginally less, but only marginally. I think the overall point is that you fucked up. You invested, investment didn't work out... and now you're blogging about it on SF.

 

[jgold47]

So for what its worth I got an offer on the house today. Its pretty solid, and I think they will accept a reasonable counter. Now I just need it to appraise. Everyone cross your fingers for me!

 

[gdl203]

Market bottom!! I called it first

 

[RJman]

Originally Posted by gdl203

Market bottom!! I called it first

GQg33k has experience in calling the bottom. Let's wait for his call.

 

[JayJay]

Originally Posted by jgold47

So for what its worth I got an offer on the house today. Its pretty solid, and I think they will accept a reasonable counter. Now I just need it to appraise. Everyone cross your fingers for me!
Sounds good... Good luck.

 

[83glt]

Dude, consider yourself lucky. You're young and have your whole life ahead of you to recoup any losses from this. Imagine if you were 20 or 30 years older, with mouths to feed, kids to put through college and at the end of your working years with that bank account supposed to be your retirement fund. There are lots of people out there facing that situation. All things considered you're in not that bad a shape.

I say rent for a couple years and sell along the way if you can. You've learned a good lesson - investment is always a risk.

Also, I don't think it's fair to talk about ****** banks and ****** people. Don't forget that one might consider you foolish for buying into real estate when you should have been getting out. Bad timing man. You got caught up in the frenzy like everyone else, so you're not totally free from blame here.

That said, good luck, and be thankful you have your youth and health - things could be a lot worse.

 

[Shakermaker]

To the OP: We are all victims of the housing crisis in one way or another. A few people got greedy, now all of us are paying the price.

 

[dtmt]

Originally Posted by gdl203

Market bottom!! I called it first

It might look like a bottom if you've got your head up your ass....

 

[jgold47]

Mortgage Payments = $14,400 Utilites = $2,800 Repairs and Carpet = $2,100 Closing Cost $ = $5,500. Finally Selling your house in Pittsburgh = PRICELESS


Finally sold today!

Credit is intact! Woot!!