looking for advice

[lindismith]

You need to get your house appraised. Ask Bugs for a referral in LA.

Then, you need to talk to an RE professional in your area – one who has been in business 20 years, and seen the cycles come and go. Ask the professionals what to do. You will get answers.

Pretty much everyone on is this board has been on here for 2-3 years, and now that we are getting requests from people like you I have to say, we are just getting irritated. We all found this board because people like you were doing stupid things, and we couldn’t believe what was happening in the RE world.

I wish you luck. The sooner you make some decisions either way, the sooner you can get on with your life. Talk to professionals. Treat it like you’ve just been medically diagnosed with cancer and the outlook is not good. What would you do? Get second opinions? Ask for the country’s top specialists? Seek alternative, creative treatments? Change your diet and exercise habits?

[manu]

thank you for your answer.
When I say we are making no saving I referr to the fact that up until few months ago we were still finishing remodelling the pool so we had extra expenses. I know we have been able to save some since then, not sure how much because my husband likes to be drammatical when it comes to how much we spent for this hosue and how expensive it is to live in it. And you are right about the cleaning maids!

[manu]

thank you for your answer.
When I say we are making no saving I referr to the fact that up until few months ago we were still finishing remodelling the pool so we had extra expenses. I know we have been able to save some since then, not sure how much because my husband likes to be drammatical when it comes to how much we spent for this hosue and how expensive it is to live in it. And you are right about the cleaning maids!

[manu]

thank you for your answer.
When I say we are making no saving I referr to the fact that up until few months ago we were still finishing remodelling the pool so we had extra expenses. I know we have been able to save some since then, not sure how much because my husband likes to be drammatical when it comes to how much we spent for this hosue and how expensive it is to live in it. And you are right about the cleaning maids!

[manu]

I am calling a real estate agent in the next few days. I will let you know how much she thinks the house can sell for.

[manu]

I am calling a real estate agent in the next few days. I will let you know how much she thinks the house can sell for.

[manu]

I am calling a real estate agent in the next few days. I will let you know how much she thinks the house can sell for.

[manu]

to blackbox
I don` t know why you have to be so harsh. I am here to ask for some advice.
If I said that it was ok to keep all our money tied in real estate I would not be questioning it in the first place.
Second it was not meant to be like this.
Third things got out of control during a major marriage crisis.
Fourth there is nothing wrong in living ona 60000$ income
Now if you are done with your insults I`d like to get some input from people who like to give advices without being so judgemental

[manu]

to blackbox
I don` t know why you have to be so harsh. I am here to ask for some advice.
If I said that it was ok to keep all our money tied in real estate I would not be questioning it in the first place.
Second it was not meant to be like this.
Third things got out of control during a major marriage crisis.
Fourth there is nothing wrong in living ona 60000$ income
Now if you are done with your insults I`d like to get some input from people who like to give advices without being so judgemental

[manu]

to blackbox
I don` t know why you have to be so harsh. I am here to ask for some advice.
If I said that it was ok to keep all our money tied in real estate I would not be questioning it in the first place.
Second it was not meant to be like this.
Third things got out of control during a major marriage crisis.
Fourth there is nothing wrong in living ona 60000$ income
Now if you are done with your insults I`d like to get some input from people who like to give advices without being so judgemental

[djrobsd]

I say just live in the house and enjoy it… Stop working so much, and have kids, and enjoy your life….

[djrobsd]

I say just live in the house and enjoy it… Stop working so much, and have kids, and enjoy your life….

[djrobsd]

I say just live in the house and enjoy it… Stop working so much, and have kids, and enjoy your life….

[manu]

Hi everybody, just a quick update.
Summary:
house bought in 2003 for 950000 in best area in town.
400000 (not 500000) spent in upgrades, improvements, 200 sq/feet addition.
600000 conventional loan.
combined income about 300000/year. My income should go up, my husband`s most likely would go down because of the depression.
Have an OPTION for 350000$ HELOC no questions asked at 7.5 percent in case of emergency
House too big and very expensive to mantain.
Thinking about downsizing.

I was finally able to meet with a realtor today.
She is the top agent for high end listing in the area.
She came in expecting a 60`s ranch and was very impressed by the improvements and expecially the views.
She told us that since we are not forced to sell we are crazy to consider selling in this market.
As everybody knows there are a lot of low ballers out there and she first said she though we would get offers in the low 1 million.
Part of the problem is that most people won`t even come to see the house thinking is a 60s house and apparently on the mls the 200 sqfeet addition is not disclosed
Then things started to get complicated.

Apparently there are 3 preforeclosures in the area (high end) and one auction property that she said she has a buyer for. She thinks it would go for about 1.5 millions.
At that point she asked us if we would be happy selling for 1,6 and 1,7. She just sold this week a listing in the area, smaller than ours for 1699 (full price). She thought the house was the ugliest (very contemporary) and would never sell but there was a buyer out there just waiting for a contemporary house who paid full price no questions asked.
At that point I got very confused.
First she says we would get very low offers (1,2 range), that she tries to see how we react to a 1,6-1,7 offer (after she mentioned she has a buyer in the price – range), than she tells me she just listed a house much worse than ours for a relatively high price which sold in a week at full price.
One thing was clear: she was really trying to discourage us to sell (was she just testing our commitment or was she sincere?)
she raccomended that we call all the realtors in the area and make our house a pocket listing (not on mls but available at fixed price, showed on discretion of the real estate agents that came to see the house if they think they have possible buyers).

Then before she left she said she would feel comfortable listing the house for 1450000.
????
She was really nice but my husband and I are really confused.
I think part of the problem is that my husband kept saying that we are not forced to sell and we would not sell unless it is worth it, which is true.
The problem is that I can see the realtor being very discouraged upfront and not willing to put any money and effort into trying to marketing our property expecially when there are so many listings out there popping up every day which are relatively easy sell because there is not much negociation since the seller has to sell no matter what the price is.

Please help me out here.

Cash out (breaking even at least I hope) or enjoy this very expensive (but so far in our means) house.
I am just really scared when I read about how tough times are going to be.
My husband works on commissions so I am very nervous about what it is going to come.

Please, no insults.
Appreciate your time

[manu]

Hi everybody, just a quick update.
Summary:
house bought in 2003 for 950000 in best area in town.
400000 (not 500000) spent in upgrades, improvements, 200 sq/feet addition.
600000 conventional loan.
combined income about 300000/year. My income should go up, my husband`s most likely would go down because of the depression.
Have an OPTION for 350000$ HELOC no questions asked at 7.5 percent in case of emergency
House too big and very expensive to mantain.
Thinking about downsizing.

I was finally able to meet with a realtor today.
She is the top agent for high end listing in the area.
She came in expecting a 60`s ranch and was very impressed by the improvements and expecially the views.
She told us that since we are not forced to sell we are crazy to consider selling in this market.
As everybody knows there are a lot of low ballers out there and she first said she though we would get offers in the low 1 million.
Part of the problem is that most people won`t even come to see the house thinking is a 60s house and apparently on the mls the 200 sqfeet addition is not disclosed
Then things started to get complicated.

Apparently there are 3 preforeclosures in the area (high end) and one auction property that she said she has a buyer for. She thinks it would go for about 1.5 millions.
At that point she asked us if we would be happy selling for 1,6 and 1,7. She just sold this week a listing in the area, smaller than ours for 1699 (full price). She thought the house was the ugliest (very contemporary) and would never sell but there was a buyer out there just waiting for a contemporary house who paid full price no questions asked.
At that point I got very confused.
First she says we would get very low offers (1,2 range), that she tries to see how we react to a 1,6-1,7 offer (after she mentioned she has a buyer in the price – range), than she tells me she just listed a house much worse than ours for a relatively high price which sold in a week at full price.
One thing was clear: she was really trying to discourage us to sell (was she just testing our commitment or was she sincere?)
she raccomended that we call all the realtors in the area and make our house a pocket listing (not on mls but available at fixed price, showed on discretion of the real estate agents that came to see the house if they think they have possible buyers).

Then before she left she said she would feel comfortable listing the house for 1450000.
????
She was really nice but my husband and I are really confused.
I think part of the problem is that my husband kept saying that we are not forced to sell and we would not sell unless it is worth it, which is true.
The problem is that I can see the realtor being very discouraged upfront and not willing to put any money and effort into trying to marketing our property expecially when there are so many listings out there popping up every day which are relatively easy sell because there is not much negociation since the seller has to sell no matter what the price is.

Please help me out here.

Cash out (breaking even at least I hope) or enjoy this very expensive (but so far in our means) house.
I am just really scared when I read about how tough times are going to be.
My husband works on commissions so I am very nervous about what it is going to come.

Please, no insults.
Appreciate your time

[Author]

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