Why is buying a house so difficult?
This house buying process is for the birds!
So I'm having my agent draw up an offer on a house that I know won't be accepted. Why am I beating my head against a brick wall? Because these people want too much for their house. It just isn't worth what they're asking and people in LA don't seem to understand that the recession has impacted housing prices here in So-Cal too. For some reason, they think we were immune to it or something. I'm still offering them more than a neighbor of theirs got a few months ago but it's $100,000 less than the asking price. So I know it won't be accepted, but it's what I think the house is worth on a generous basis.
They haven't received a single offer in the entire time that it has been on the market (over 100 days) and yet they won't consider the fact that it's not worth what they believe it is. People should take emotion out of it, but they don't. Just because they love their house, doesn't mean that others will. There is a lot that I'd have to do to it over time to make it the way I'd want it. Plus, there are several things that I'd have to do to it before I even moved in. I mean, one room still has wood paneling from the '70s! Yikes! But it doesn't hurt to give them the offer. Then when they say no, I'll just walk away. I don't like the place so much that I couldn't walk away. It's just a house. I am adverse to spending a lot of money so if I get to keep my dollars in my bank account for longer, I'm all for that!
I've given myself until the end of September to be in escrow on a house. If it doesn't happen by then, I'm going to stick with an apartment. It might be the sign that I was looking for regarding how many more years I'm going to be in LA. An apartment would give me greater mobility, so I'll just take that as a sign that I'll be leaving LA sooner than I previously thought!
I saw "Eat Pray Love" this weekend and the entire time I was wishing that I could just take a year off as well. What a wonderful concept. I really enjoyed the book when I read it a couple of years ago and seeing it on screen just re-emphasized the point of it. I wouldn't necessarily want to go to the countries that she did, but it would be nice to go somewhere and live there just for the enjoyment of it. Maybe one of the Greek islands would take me in. Now there's a nice thought!
So I'm having my agent draw up an offer on a house that I know won't be accepted. Why am I beating my head against a brick wall? Because these people want too much for their house. It just isn't worth what they're asking and people in LA don't seem to understand that the recession has impacted housing prices here in So-Cal too. For some reason, they think we were immune to it or something. I'm still offering them more than a neighbor of theirs got a few months ago but it's $100,000 less than the asking price. So I know it won't be accepted, but it's what I think the house is worth on a generous basis.
They haven't received a single offer in the entire time that it has been on the market (over 100 days) and yet they won't consider the fact that it's not worth what they believe it is. People should take emotion out of it, but they don't. Just because they love their house, doesn't mean that others will. There is a lot that I'd have to do to it over time to make it the way I'd want it. Plus, there are several things that I'd have to do to it before I even moved in. I mean, one room still has wood paneling from the '70s! Yikes! But it doesn't hurt to give them the offer. Then when they say no, I'll just walk away. I don't like the place so much that I couldn't walk away. It's just a house. I am adverse to spending a lot of money so if I get to keep my dollars in my bank account for longer, I'm all for that!
I've given myself until the end of September to be in escrow on a house. If it doesn't happen by then, I'm going to stick with an apartment. It might be the sign that I was looking for regarding how many more years I'm going to be in LA. An apartment would give me greater mobility, so I'll just take that as a sign that I'll be leaving LA sooner than I previously thought!
I saw "Eat Pray Love" this weekend and the entire time I was wishing that I could just take a year off as well. What a wonderful concept. I really enjoyed the book when I read it a couple of years ago and seeing it on screen just re-emphasized the point of it. I wouldn't necessarily want to go to the countries that she did, but it would be nice to go somewhere and live there just for the enjoyment of it. Maybe one of the Greek islands would take me in. Now there's a nice thought!