Market Value By Liz

by Liz

Have you ever decided to take a leap of faith?  And when you did, have you ever fallen flat on your face?

When we spontaneously decided to sell our house this past Spring, we had champagne wishes and caviar dreams.  But six months later, we were still waiting for our happy ending…

It all seemed like such a great idea in the beginning.  Let’s sell the house that we’ve painstakingly remodeled for the past seven years. Yeah!  And then, let’s move into a RENTAL!  Because I’m sure we’ll be able to find a quaint little beach cottage to lease that will welcome with open arms our two hyper kids, two drooling dogs and stinky guinea pigs, right?

Um, maybe.  But we could worry about that later.  First, we needed to sell our house in this sh*tty market.  So after a weekend of stripping it of any defining picture(God forbid the prospective buyers see what we look like!) and shoving our closets full of anything that dared to reside on ANY surface, it was on like Donkey Kong.

I mean, who would be able to resist our hardwood floors and custom paint?  Our tiled yard with timed lights in the planter?  We had NO DOUBT that buyers would be in a bidding war faster than you could say Donald Trump.  Which is probably why we refused to listen when the local agent told us to list 30k lower than we did.  What did he know, right?

Um, apparently ALOT. Or at least a lot more than we did.

And by the time we finally swallowed our pride and lowered the price, it was too late.  We had already popped our proverbial cherry in the local market. Our listing had desperation written all over it and we were subjected to ridiculously lowball offers.  We were so OVUH!

And no amount of St. Joseph prayers, running horses pictures(don’t ask), or bowls of lemons could get our house-selling mojo going.  It. Was. Depressing.  Not to mention a huge pain in the ass to make the time each morning to both straighten my hair AND leave the house looking show-worthy with two kids under six. And did I mention that frizzy hair makes me cranky?

So after six months, we finally decided to throw in the towel. And I’m not gonna lie, the Type- A girl in me felt like a failure.  But as much as I had daydreamed of renting a little beach cottage and giving up the responsibility of home ownership, I also felt relieved to stay.  Or at the very least, to be able to have a damn picture of my kids on display and leave a dish in the sink occasionally!

But in the end, this control freak realized that some things in life are just out of your hands.  So, instead,  I’ve decided to focus on all the things I WON’T MISS about being on the market:

  • Keeping my house looking like a f*cking museum.  You know it’s bad when you beg your five-year-old to watch another episode of Spongebob so she won’t pull out crayons and messy paints to make you a picture. *bad mommy*
  • The feedback.  For some reason I took it personally when they hated on my galley kitchen or dogged my floorplan.  Why didn’t they just go ahead and tell me that my ass looked fat in those jeans too?
  • The lovely agents who bring their clients back unannounced at 8pm to get “one last look” at the granite in our kitchen.  Because we always have everything under control at bath time, right? *cue VERY awkward twenty minutes involving naked children*
  • The ego-bruising realization that no one thinks the ginormous surf mural in my daughter’s room is half as rad as I do. Um, hello!  Pink Surfboards!  What’s not to like?
  • Open houses. For some reason, it bothers me that half the neighborhood has walked through my house. Like my house is some dirty slut with an STD that no one wanted. Like we’re the herpes house or something.
  • The crazy paranoia.  I can’t tell you how many times I got to work and SWORE that I’d left my Hanky Pankys on my bedroom floor.  Hmmm…on second thought, maybe that would have made the house more appealing!

xoxo, Liz

Jules August 26, 2010 at 7:12 am

Love this post, Liz! <3 it!

Jules August 26, 2010 at 7:13 am

Okay, so apparently, I can’t make a heart here, like I can on FB (“< "+ "3") … sorry! = )

Kenan House August 26, 2010 at 7:13 am

Ha! So great Liz & so true! But you have nothing to worry about … the *right* buyer is out there but just hasn’t come across your gorgeous home yet!

The mural is adorable, the galley kitchen is beautiful & you are HOT! The two of you have really made your house a home!

It’s the market … or so I’ve been told. Not something I look forward to being on in the coming months. :)

Liz August 26, 2010 at 7:36 am

Jules, It’s the thought that counts, right? LOL!

Liz August 26, 2010 at 7:41 am

Kenan, Thanks! We do love our house, and part of me didn’t really want to leave(something my psychic told me was NOT helping!).

The funniest part is, now that we’re off and have no plans to move for 2-3 years, one of the agents contacted my mom and asked if we would still entertain offers! ha! So we might get another one!

Good luck when you put your house on and just try to not go crazy! It can be a frustrating experience. the one thing I will say is Price it right! That is the number one mistake we made, and had we priced it correctly the first day I’m positive we would have sold. But all things work out the way they are supposed to and for some reason, it just feels right to stay for now. xo

Beth Jaworski August 26, 2010 at 7:54 am

Liz,

I feel for you! As a Realtor, I can only hope people take your story to heart and listen to their agent on pricing. You wrote a very humorous tale of the danger of overpricing. Do I have permission to share with prospective clients? LOL. This market is so brutal – no one likes to hear what their house is worth today.

I do feel things happen for a reason. You are destined to live at that beach cottage, I can feel it, just not this year. :)

Thanks for making me laugh this morning. I really needed it today!

Beth

class factotum August 26, 2010 at 8:06 am

I sold my house, asking price, within three days of listing it. (This was two years ago.)

Against my wishes, I agreed to the price the realtor recommended. I thought my house was worth much, much more! After all, the house next door had been listed for $6,000 more and they didn’t even have an attic fan, plus it had been re-done and didn’t look as good as my pristine, 1922 bungalow.

However, the house next door had not sold, even after being on the market for months.

After only about five showings, I was done. Fed up. And I had to keep only myself neat and tidy – no kids. What is it with realtors who call you ten minutes before they want to show the house? It was a pain in the neck.

I decided it was worth sacrificing the $6,000 just to not have to go through months of showing.

Carrie Murray August 26, 2010 at 8:14 am

Liz,
I can not so proudly tell you, you don’t know jack about trying to sell a house now!
Our house has been on the market for a year next Tuesday. We have had the luxury of paying two mortgages!! Lowered the price twice, 6 buyers fall out because they have no cash. (why look for a house then?) and the cherry on my cake? After a showing a “buyer” unlocked a window, came back at 2am with a truck and some friends and stole all the appliances from the kitchen, including the tankless water heater! Now we’ve replaced everything, staged it, and lowered the price again! So if you know anyone looking for a million dollar home, priced to sell in Encino send them my way!
Although, I did get my current home for a bargin and looooovvveee it.
WTF? You can’t win.

Trisha R Jackson August 26, 2010 at 8:29 am

This is EXACTLY my sentiment in the matter. I am so over it but we do desperately need out. I am ok with lowering our price but will no longer negotiate at some point. With 2 kids under 2, I don’t even bother picking up each night. Instead, I turn into a raging B and clean like hell. To that end, we are leaving this weekend to visit my in-laws. If someone wants a showing, they cAn wait.

Can we implement a system by which the seller interview the buyers before a showing?

Michelle August 26, 2010 at 8:59 am

I dream of moving… We moved every 2 yrs for about 6 yrs. We’ve been in this house for THREE years – that’s the longest we’ve lived in one place since my husband and I were married 10 yrs ago. This house isn’t my dream house, it was suppose to be temporary…
High Five to you & your family for taking the chance!! Your beach cottage is out there, I just know it!!

Jennifer A. August 26, 2010 at 9:18 am

Liz,
I FEEL YOUR PAIN! We currently have our house on the market…it has been a nightmare! My favorite is when the agent calls and says “we got an offer I know you will accept but I had my attorney do some digging and there is no way these people can buy a house…but atleast they are looking right!” We have been on the market for 3 months now and have done everything known to man! St. Joe is in the front yard upside down etc. Our best friends sold their house in two weeks and it only had one stinking bathroom! I am also starting to take this personally after I refinished all the kitchen cabinets and put in ceramic and replaced all the lighting…what is not to love right!!! I applaud you for taking it off the market! My type-A personality isn’t ready to admit defeat just yet…but I am pretty sure that my husband is completely over me harking about picking his stuff up! haha!
Good luck!
Jennifer

Beth August 26, 2010 at 9:18 am

This cracked me up. So funny, yet so heartbreaking. Having been a realtor for 8 years, I see this happen more often than you think! Everyone feels that their home is worth so much more than it really is. You love it, why wouldn’t everyone else?? And the part about open house day and having the whole damn neighborhood walk through! Open houses RARELY sell the home! Years before I got my real estate license, my husband and I were selling our very first house as a fsbo (for sale by owner). After weeks of disappointment, I had a knock on the door. A single guy on a motorcycle wanted to take a walk through – after he left, I walked back into my bedroom and was mortified to see a pair of my panties on the floor!!!!! Good God! He called back later that night and offered full price! :) Loved those leopard panties ! hehe

gabs August 26, 2010 at 9:53 am

Oh Liz! I couldn’t imagine! I was just on the other side of it as a buyer and I would loose my mind as a seller…the craziness of it all…arg! Glad you’re getting a break from that world and hoping you’re enjoying your fabulous house for just a little while longer!

Liz August 26, 2010 at 10:12 am

Thanks Beth J! Of course, share away! Let my tale be a lesson to them! ha! Glad you liked!

Liz August 26, 2010 at 10:14 am

Class factotum, I think you made a great desicion! You are right, 6,000 is not worth it! xo

Liz August 26, 2010 at 10:17 am

Omg Carrie! That SUCKS! I will for sure send anyone who wants to live there….your tale made me feel a lot better about my own…ha!

Liz August 26, 2010 at 10:19 am

Trisha, I feel your pain sista! And I’m totally down for implementing that system! xo

Liz August 26, 2010 at 10:19 am

Michelle, Thanks so much! I know it will happen when it’s the right time. xoxo

Liz August 26, 2010 at 10:21 am

Jennifer, oh man, that sucks. We went through tthe same thing when my brother sold his house in 4 days while we were on the market. So happy for him but wondering what the HELL is wrong with our house!

Liz August 26, 2010 at 10:23 am

Beth, HA! I’m telling ya, I should have left my leopard Hanky Pankys on the floor! I think it would have helped!

Liz August 26, 2010 at 10:23 am

Thanks Gabs!!! I’m so relieved to have my house back…

Heidi Milton August 26, 2010 at 11:31 am

oh, girl! What a nightmare… glad you made it to the other side. :) You didn’t even mention having the put the pets up every time you left the house! Save the beach house for your empty nest years…that’s MY plan anyway!

Lisa August 26, 2010 at 1:55 pm

I love that surf mural!

Liz August 26, 2010 at 3:04 pm

Thanks Heidi! That sounds like a great plan!

Liz August 26, 2010 at 3:05 pm

Thanks Lisa, I do too!

Ella August 27, 2010 at 7:00 am

Wow! this post is great! Keep it up!

Liz August 27, 2010 at 7:05 am

Thanks Ella! xo

sarah green August 27, 2010 at 7:28 am

Really witty post! I have never owned a home, with the whole military thing it just wasn’t practical. Now my boyfriend HAS to sell his home due to relocating for work- its been on the market for 3 months and NO one has even LOOKED at it! So sad. Its currently holding up plans we have for the future because I refuse to live in a home I have to keep like a showroom with a 2 year old and a 3 year old son. I don’t think so!!

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Liz August 27, 2010 at 6:54 pm

Sarah, I don’t blame you! It’s really hard with little ones. xo

Cristine August 27, 2010 at 9:28 pm

Hey Liz, don’t forget, you found BOTH of your homes on an open house so they do work at times but not very often. Sorry it did not sell but EVERYONE thinks their home is worth more than all the comps and assume the agent is suggesting too low of a price so it will sell quickly and they can make their money fast. I am sure in the back of your mind you thought that too, oh, I forgot, I wasnt charging you any commission!! It still doesn’t feel right that of all the houses that I sold this year, that I could not get yours sold!! MOM

Sarah August 29, 2010 at 11:37 am

love the post:)

Liz August 30, 2010 at 3:20 pm

Thanks Sarah!

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