If you remember, I made a post a couple of weeks ago about this lovely house in Sherman Hill, a 10-minute walk from work. I wish I could say it's all a done deal, but alas! no. On the buying end of it, all is well. I qualify for a reasonable loan and can certainly make the monthly payments work if the seller accepted my offer. On the selling end....not such good news. While I had some interest last fall by a neighbor about buying my property, he's not looking now. That means I'd have to list with a realtor. The pay-off plus realtor commission of 6% plus the tiny down payment I'd have to make on the new house all add up to a figure that seems unreasonable to me. I'm not sure anyone would even look at that price. Part of this is because of the nation-wide housing downturn....my property hasn't appreciated like Wells Fargo and I thought it would. While it hasn't lost value, that value doesn't seem to be quite enough to swing this deal. The realtor will come on Tuesday to look it over, but this may be only a dream that didn't come true.
2 comments:
Oh, I hate that! But it wouldn't be terrible to stay at Red Bell Farm either, would it? Or did you have your heart set on the Victorian? I understand the housing slump. We're still waiting to sell our other house - I think it's been eight months of double mortgages. Yuck.
No, staying here wouldn't be horrible at all! My heart isn't completely set on the Victorian; it just makes sense to spend less money on gas and less time commuting and mowing! I think I could save $150/month on gas and close to 2 hrs/day on travel. The other plus for the Victorian...the possibility of using the formal parlor for the gallery that I've been dreaming about...very do-able in this neighborhood of mixed zoning. If it doesn't work out, I'm sure another 'door' will open. I can't imagine paying two mortgages. That has to be painful.
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