Remember all the times I have talked about trying to buy a home on this blog? Well we are still living the first time home buyer saga. Over the weekend we looked at a place here that was a possible option for us, we met a Realtor that was overly eager to make her money and we once again have home buying on the brain.
The main reason we are looking to buy is because of the economic state, it is a buyers market for sure. Houses on the market are in abundance, home prices are falling and lots of people are desperately needing to sell the homes they can no longer afford.
Plus with President Obama it is likely we’ll see some type of housing market stimulus attempt, you know to get people buying again and to turn the market around. We suspect this will be most beneficial for those who have not been sucked in to the subprime mortgage mess and whom have not lost homes or even purchased them to begin with.
We have worked very hard to get money for a down payment in the bank. Thanks to employer sponsored 401K plans and roll over options we now have a decent down payment in an IRA ready for a home purchase, we are very pleased about this.
Now we are looking at our home buying options and considering what is truly in our best interest. Obviously we don’t want to remain in a mold filled rental home especially with a baby on the way so we have reinstated our home buying search.
We are looking at unconventional purchasing options at this time. Things like contract sales and owner carry buying options. We are doing this for credit reasons and also because we know somethings are going to change with the new president in regards to the housing market and financing options.
What cracks me up right now is how delusional sellers and agents are right now, they are still trying to be as greedy and shameless a possible even though the number of sellers clearly outnumbers the number of buyers in Evansville, IN.
The place we saw over the weekend was not spectacular by any means, the basement clearly had flooding issues and there were also structural issues on the 2nd floor. The seller made some crazy offer to us that was just a crock and we just laughed about (I don’t want to bore you with the specifics).
What I am wondering is when will people wake up? We are in a recession and greed just doesn’t work anymore. Seriously you selling me your house is NOT doing me any favors. We can rent forever and just keep making interest off that down payment money in the IRA, it’ll be more saved for retirement or whatever. Or we can buy another house, there isn’t a housing shortage you know.
When you have a buyer that is interested how can you honestly make such laughable requests when YOU are the one that is struggling under 2 mortgage payments YOU can’t make? We aren’t struggling financially to pay for our housing because we didn’t get in to an agreement that was impossible to make good on.
When you get someone who is willing to make your payments for you and help YOU out how can you still be so greedy? I know you really want to make your $50,000 profit off the home sale but which is better taking a profit cut or holding out in greed and risking foreclosure?
What kills me is that so many are honestly willing to loose their homes to foreclosure instead of just cutting their losses, learning from the mistake and just selling for what they can get. Those greedy people make me feel like foreclosure is deserved and that we shouldn’t care about their suffering or bail them out, I mean they did it to themselves right?