Tuesday, June 24, 2008

Relief

I was watching the news today and saw that stocks aren't doing so hot because of a report that home prices fell 15.3% in April. Curiosity got the better of me and I checked online to see if the house we just finished not buying was still on the market. Keep in mind that our former realtor had told us that another buyer was waiting in the wings with an offer on the house and we were going to lose out big if we didn't go through with the deal.

Well, I found the house. Still on the market. And they've lowered the price from $264,000 to $249,900. That's less than $5000 off our offer. We're stunned. They should have just accepted our initial offer of $220,000.

What's with our former realtor? We plan to interview realtors next time, because we think this is crazy.

3 comments:

Marie said...

OMG! I can't believe it says "Short sale, bring all offers... process already started at bank. Will have answer soon!" Seems like it all worked out for the best. Maybe you should start checking out houses in Colorado Springs! We can't believe how cheap the houses are there. But then again, I am comparing to the ridiculousness here in the DC suburbs.

Terry said...

Really nice house. And if you can buy a 2800 sq. ft. house in southwest FL for 249,000, the housing market really must be taking a dive. We've been in our house for 7 years so I haven't been keeping up with home prices. I hope you guys get a house real soon.

Joanna said...

Believe me, Terry, I hope so, too. If we were DINKs this apartment really would be "luxury" as they claim, but with four kids and a 5th on the way, I'm starting to read the word "luxury" as "torture."

And that's the funny thing about that house, they can't seem to GIVE it away for that price. We offered $245,000 and it took them 9 weeks to even begin to be done with anything regarding it and it's STILL on the market. It makes me happy we dropped the contract because what are people willing to pay? Apparently not that price. I'm shocked. The big question is how low will the prices go.