10 November 2008

Update On Parents Home


The latest news was today. The agent gave an Open House. She said about 15-20 groups came in to see the house, mostly investors wanting to get a deal. And the majority said it was way overpriced. Now this was after we had already reduced it by $50 thousand. But you have to understand, this house is a real fix it upper. My parents were not big on remodels not any other up dating so the house fell in to dis-repair. So, we have reduced it by $75 thousand. It's a big drop, but pure profit for myself and my sister, my parents owed zero on the house. 

You just have to be real about it and know your facing a lot of competition out there with houses that are in far better condition. I only pray that this will be the price the will get it sold and once and for all out of my hair. 


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7 comments:

Joyce said...

Glenda - I love this house! It is adorable! If I lived in California, I would definitely further investigate. The market really stinks now, but I know the right person will come along that wants a lovely home full of happy times and good memories.

Laurie - Decorating Fanatic said...

Hi Glenda - Ouch! But I know with todays market that's what we gotta do. It's got a really cute cottage look and with the right couple willing - this could be really adorable! Good luck with it and that's great that there isn't a mortgage. Thanks again for enduring another one of my house tours! We went from living in a small cottage on the property - supposedly only 700 sq ft of living space (not counting closets/bathrooms) with 3 kids for 10 years to this house we built. It took us about 3 years of fighting with the county to just get the permit! and then another year to build it. But now I am the only one who cleans it! day in and day out - I am here with my vacuum & damp mop! :) but we do love it - so thanks for all the sweet compliments. I dreamed & waited for it to happen! Good luck with selling your parents home. I am sure it will happen any day now! :) take care. ~ Laurie

Sophee-a Laroo Bijoux and Sheri too said...

This is such a buyers market right now.....like you said~it is paid off so it will be 100% profit.

you do not want to keep it as a rental? Too many repairs? My hubby will split profits of his Moms home with his sister. His Mom is still living and lives in the home with her 24 hour caregiver.

One day...they will face this same thing.

When my Dad passed 2 years ago.....he just paid off his home. His wife quit her part time job to be with my half sister who was 12 at the time.

The home was in my dads name.....she let it go to H...! It is now condemned and they have lost it to back taxes. What a waste!!!!

Hope it sells quickly for you.....and you can move forward:)

GARAGE SALE GAL said...

Hi Glenda,
I was wondering how things were going on the house...with that huge reduction, I bet it will sell now:)
I tried to have the fancy signature, like yours, on my blog, but I don't know how to complete it and what all the HTML...stuff like that means..maybe I'll figure it out.
Warmly,
Deb

Glitzy Glass said...

Good luck with the house. I personally opt. to renovating a old home!

Glitzy Glass said...

Where did you get the picture of the paris tower?

Joanne Kennedy said...

I know how you feel. I have had the house my uncle left to my sister and me for a year now. When we first listed it we were told it was worth $650,000. Like yours it's paid for. So we were excited about the pure profit.

Then the market kept dropping and things happened and now it's listed for $349,000. But the only offers we get are ones who still want it for only 1/2 of that.

I won't let it go any lower. I would really like to hang on to it, fix it up and then use it as a vacation place. It's my sister who wants to sell.

So don't tell her but I'm thrilled no one is buying it.

However, I know you really want to sell yours so I'm hoping buyers come soon.

Hugs,
Joanne

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