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no house

December 13th, 2016 at 09:31 am

Ugh no house. Lost it to someone else willing to pay cash. We were in the midst of doing some due diligence and someone else just came in and got it done.

Oh well. Time to keep on looking. I keep telling myself that spring is the time when more inventory comes on the market. Patience will be rewarded. We had hoped to find something but nothing is really what we want.

It's really hard to bet on finding a house we like and passing on so many we don't. We probably could settle but I find that I don't want to pay a lot of money for something I really don't love or like. That I'm taking the "safe" bet. But at the same time I also think if we bought a house now in desperation there is a great possibility we'd regret it.

I think all financial decisions made out of desperation are bad ones. They cause someone to act irrationally, justify bad decisions instead of actually thinking logically and reasoning out a decision. Or at least that's my justification for not jumping on a house I don't like but should probably buy because it's "good" enough.

But I guess it's like marriage. Should we settle for someone who is "good enough" and the "right" person you should marry but you don't love them? You just like them and it's the right decision? I think no. Because marriage is tough enough that you should really be sure. I do think people need common values but settling can cause people to compromise on those values. Hence I don't want to compromise on a house right now. Or at least these are compromises I don't want to make.

FWIW I feel that some realtors are definitely not working for our best interest. I have one non-stop pressuring me to buy at the top of our budget. That they'll take an offer at the top of our budget since it's been sitting. My response has been I don't love the house and I don't want to spend to the top of our budget if it's not something I really love. But hey it's in her best interest to sell me something.

11 Responses to “no house”

  1. Carol Says:

    I'm sorry about the house, but I agree that a house isn't something you should just settle for.

  2. debt-free by thir-ty Says:

    I'm sorry it didn't work out, but that just means it wasn't *the* house. Just keep looking. Something will come along, and you'll realize losing out on this one was actually a blessing in disguise. Good luck!

    I almost settled on the guy front. The only guy I dated treated me terribly, but I went along with it worried that that may be my only shot. When it ended, I was devastated and started online dating. That's when my amazing, wonderful husband came along and made me realize just how much I would have been settling. Relationships and a home are definitely 2 life decisions that shouldn't be rushed, and ultimately, you and your family should be the only ones to make that decision. Ditch the realtor if you feel like they aren't working for you.

  3. CB in the City Says:

    Same thing happened to my niece and her husband. While they were counter-offering, someone swooped in with a full offer. They were pretty heartbroken, but I believe they will find something even better. I believe you will, too!

  4. PatientSaver Says:

    I would get rid of the realtor who pressures you to buy at the top of your range.

    You'll know it when the right house comes along. It took me 6 months to find one that really excited me, and I'm still in it 21 years later.

  5. AnotherReader Says:

    If you have a cash buyer for an unfinished house that backs to a busy street, you have a problem as a financed buyer in that market. You may lose out on multiple houses before the market cools sufficiently to get your offer through.

    Get rid of the agent that is pressuring you. They work for you.

  6. tripods68 Says:

    Don't listen to those who tells you "buy more than you can afford" That's when you fire them.

    Keep looking, be patient, and most importantly stick to your budget no matter what.

  7. LivingAlmostLarge Says:

    AR I assume it was cashed. It went pending feasibility. Who knows. We were contemplating the hard money cash offer but wanted to price out how much to finish the house and investigate any lawsuits, etc pending. Before making an offer. I assume the other people if they don't like what they find they'll just back out.

    I think I may have to fire yet another agent. I've found that there are many agents who pressure you. I've fired 3 who kept pushing. I also found that no one cares about your budget but you.

  8. Kiki Says:

    It took me 7 years to get into my house. The recession hit and then I lost 15% of my income for almost 4 years. When I found my house two years ago I knew it the minute I did the first walk through. Spring and early summer is the best time to look. I bought at Christmas two years ago-to stressful in my opinion.

    My agent worked with me that whole time - never pressuring me, only telling me things to consider about the areas I found houses. She was a god send and I have recommended her to multiple people - several who bought with her when I had the salary reduction!

  9. MonkeyMama Says:

    @kiki - can you let me know who your realtor is?? We had the most amazing realtor in the Bay Area. But I haven't found any realtors of that caliber in Sac Area.

    LAL - It's just going to take time. I can't even imagine how picky we will be when we buy our next home. I think it was nice to buy our homes in our 20s. We did really well with a good realtor and trusting our intuition. I even had a realtor tell me once in my 20s that he had never taken anyone to so many houses. (HA! It wasn't that many, but he was rather green and had only sold during the bubble. In the end we decided not to buy. It just wasn't in the cards for us). That was like 10 years ago?? I think we are probably 100 times more picky now. I expect that comes with means and wisdom.

  10. LivingAlmostLarge Says:

    Kiki thanks. I've gone on over 50 tours with redfin. Not always a lot of houses but just touring. At first mostly different areas but now very limited area and very limited homes. But now I know what really won't work and I don't want.

    I agree buying our old townhouse had a lot of compromises which we didn't care because we were only planning on staying 5-7 years. We ended up staying 10. We thought only 1 kid and had 2. Thankfully it worked. But had I carefully thought more we'd have gotten something perhaps different in a different area.

    Anyway this time I an compromising in different ways. And willing too.

  11. rob62521 Says:

    Sorry about the house, but maybe something better is out there for you!

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