Tuesday, March 06, 2012

What's Up With You?

The latest news is that I think we're trying to buy the house we're living in right now. I'm not so sure that it's going to work out, so I'm stressed about that because we would have to be out by May 1 if it doesn't happen. We've talked about possibly buying the house before, but it's always been very speculative. However, I emailed the landlady last week to see if she wanted to extend our lease for another year and she said definitely no, she wants to sell.

So we're tentatively entering into negotiations with her and already it seems like she thinks she'll get more for the house than we are willing to pay. Especially considering if she sells to us, she won't have to pay realtor fees, she won't have to fix up the place before she lists it (and there are several things that need to be spruced up), and she will have a guaranteed buyer, versus having the house sit empty (and without a renter making payments) for however long it takes to sell.

Also, just to throw this in, the fact that she bought at the top of the market in 2007 and wants to recoup some of her investment? Not our fault. I'm not going to overpay.

But I'm a little concerned that by the time she realizes all of this, it will be too late and we will have moved out months before.

So we started looking at rentals yesterday and there really isn't much out there. After living in a house for a year and a half, we are loathe to move back into an apartment.

Last night we puttered around Zillow, looking at listings. There's one in Massachusetts, just over the border, that we really like. But this whole buying a house thing is kind of terrifying, especially when we still don't know what the next couple of years are going to bring. When it comes to reselling, I think the place we're in now would resell more quickly because it's basically in the city. And it's a good location for a rental if we couldn't sell right away.

Also, oh my gosh, I sooooo don't want to move right now. When I think about packing up all of our stuff - AGAIN - I just feel exhausted.

I guess it all depends on where these discussions with our landlady go.

On the upside, stress makes me fast. I swam 2800 yards this morning in an hour, and was swimming my sets of 100s at about 1:37, which is really good for me, considering I'm still getting back into the swimming groove.


Joe and Joanne said...

Joe and I are in the midst of the very same thing. Even the banks (or should I say, especially the banks) are trying to recoup loss on properties. Joe and I have liked several foreclosed properties we've ultimately decided not to offer on because the bank wouldn't accept an offer less than 90% of the list price. Hello! We're in a buyers market here. Somehow the Northeast hasn't quite figured that out. We try to remember that like with buying a car - we have to be willing to just walk away if the price is too high because there will always be another house.

That stinks though, about having to move... Let us know if you need help. RI isn't too far away.

Kelly said...

Joanne, thanks for the offer! It's true, this is definitely a buyer's market, but it's still pretty pricey in the Northeast. Good luck to you and Joe!