Would you sell short to buy a nicer house at a better value?

• Steel Valley Football

  ZWICK 4 PREZ;1072110 wrote:Exactly. And I hate myself for giving you credit for a good answer.
  
  In an ideal situation I would like to make money on the house and buy a nicer house at a lower value. That's not the option at this point. Do I decline the offer and potentially miss out on obtaining the new house, or do I bite the bullet and take the loss now and hope I make it up more so in the future.

  
  I'd say do it. Prices are at a relative historic low. Buy as much house as you can while you can.
• Con_Alma

  Steel Valley Football;1072145 wrote:... You don't see it. The rest of us do.

  You are absolutely correct. I don't see it. I don't see anything worthy as being deemed "special" in my response.
• Con_Alma

  fan_from_texas;1072137 wrote:... The biggest factor now isn't so much price (because your house will rebound at the same time theirs will, unless there's something unique that will make one rebound faster than the other), but interest rates, which are currently low.
  
  Another factor to consider is how long you plan to stay in your current house. If you're planning eventually to sell and trade up at some point, you're going to have the realtor fees and closing costs anyway, so perhaps it's better to take the hit now and move into your terminal home. On the other hand, if you're otherwise happy with where you are and don't plan to make the move, it may not be worth it.

  This.
• Steel Valley Football

  Con_Alma;1072151 wrote:You are absolutely correct. I don't see it. I don't see anything worthy as being deemed "special" in my response.

  Likewise, retarded people probably don't know they are different either.
• Belly35

  

  Make one counter offers but if nothing moves …take the 12,000 loss or less if offer is approved you’ll recoup it later…faster with a better home plus if this is what you want .. 12,000 is not a big issue
  
  If the other house is more and is what you want try and get the price down by 12,000 then it becomes a wash some what. Plus the more house now will increase in value, more later.
  
  Remember location location location and last curb appeal
  
  From what I read … I would do it …
• Steel Valley Football

  Belly35;1072160 wrote:Make one counter offers but if nothing moves …take the 12,000 loss or less if offer is approved you’ll recoup it later…faster with a better home plus if this is what you want .. 12,000 is not a big issue
  
  If the other house is more and is what you want try and get the price down by 12,000 then it becomes a wash some what. Plus the more house now will increase in value, more later.
  
  Remember location location location and last curb appeal
  
  From what I read … I would do it …

  
  Con Alma does not care about curb appeal. Especially in his basement.
• Con_Alma

  Steel Valley Football;1072158 wrote:Likewise, retarded people probably don't know they are different either.

  I think some are able to discern their differences but most probably don't.
  
  Different , however, doesn't necessarily mean special. I concede that my view on how to obtain and fund a primary residence is different than most. It's fare from "special".
• Con_Alma

  Steel Valley Football;1072177 wrote:Con Alma does not care about curb appeal. Especially in his basement.

  Areed. I have no interest in appealing at the curb to another with my residence but Belly's comment wasn't a suggestion for me it was a suggestion for Zwick and his situation. Mine has nothing to do with it.
• Steel Valley Football

  Con_Alma;1072180 wrote:I think some are able to discern their differences but most probably don't.
  
  Different , however, doesn't necessarily mean special. I concede that my view on how to obtain and fund a primary residence is different than most. It's fare from "special".

  
  All in.
• Steel Valley Football

  Con_Alma;1072183 wrote:Areed. I have no interest in appealing at the curb to another with my residence but Belly's comment wasn't a suggestion for me it was a suggestion for Zwick and his situation. Mine has nothing to do with it.

  Curb appeal has nothing to do w doing something for other people.
• Con_Alma

  Excatly. It's an expense. Fund it as such...all of it.
• Steel Valley Football

  Con_Alma;1072180 wrote:I think some are able to discern their differences but most probably don't.
  
  Different , however, doesn't necessarily mean special. I concede that my view on how to obtain and fund a primary residence is different than most. It's fare from "special".

  
  
  spe·cial   [spesh-uhl] Show IPA
  adjective
  1.
  of a distinct or particular kind or character: a special kind of key.
  2.
  being a particular one; particular, individual, or certain: You'd better call the special number.
  3.
  pertaining or peculiar to a particular person, thing, instance, etc.; distinctive; unique: the special features of a plan.
  4.
  having a specific or particular function, purpose, etc.: a special messenger.
  5.
  distinguished or different from what is ordinary or usual: a special occasion; to fix something special.
• Con_Alma

  Steel Valley Football;1072193 wrote:Curb appeal has nothing to do w doing something for other people.

  I don't suggest that it does nor have I ever.
• Con_Alma

  Steel Valley Football;1072196 wrote:spe·cial   [spesh-uhl] Show IPA
  adjective
  1.
  of a distinct or particular kind or character: a special kind of key.
  2.
  being a particular one; particular, individual, or certain: You'd better call the special number.
  3.
  pertaining or peculiar to a particular person, thing, instance, etc.; distinctive; unique: the special features of a plan.
  4.
  having a specific or particular function, purpose, etc.: a special messenger.
  5.
  distinguished or different from what is ordinary or usual: a special occasion; to fix something special.

  Exactly it mat but doesn't necessary mean special. Didn't I already post that.
  
  It can but it's not definitive.
• Tiernan

  Steel Valley Football;1072145 wrote:I'm not having this conversation again. You don't see it. The rest of us do.

  The rest of us only see a complete doosh from the Rust Valley that should the OC ever hold an annual convention would be on my short list of wankers I'd just walk up to and straight cold cock without ever saying a word.
• Heretic

  

  This thread's gotten so awesome. I'm now on Sleeper's "Con Alma is the best" bandwagon.
• sleeper

  

  Heretic;1072492 wrote:This thread's gotten so awesome. I'm now on Sleeper's "Con Alma is the best" bandwagon.

  Exactly. He wins without resorting to the immature, irrational, illogical tactics that I use to achieve the same goal. There's really nothing you can do to beat it, so you just sit back, quote his post and say:
  
  /Con_Alma'd
  
  And you can take that to the bank.
• j_crazy

  

  My wife and I are transferring to Houston. We are listing our house for what we paid in the hopes of selling quickly because our market analyses came in higher than we paid. Our Houston transfer is my last move, so we will be in this next house for many years.
  
  Long story short, I don't mind taking a loss on what my house is worth because I know I'm not moving for a long time. If you're in the same boat then eat the 12k and move on. I still don't think its a bad idea to counter for maybe 6k.
• Ironman92

  

  Jesus the knowledge being spewed on this thread is silly.
  
  Let's keep it simple. If you are hesitant to accept the offer knowing you love this new house....don't do it.
  
  Wait it out some....you got a decent offer that quick...you'll get what you want.
• dwccrew

  

  sleeper;1072502 wrote:Exactly. He wins without resorting to the immature, irrational, illogical tactics that I use to achieve the same goal. There's really nothing you can do to beat it, so you just sit back, quote his post and say:
  
  /Con_Alma'd
  
  And you can take that to the bank.

  /Con_Alma'd and /sleeper'd in the same post? Epic win.
• password

  

  Are you using the same Realtor for both transactions? If they are involved in both transactions, sometimes you can get them to agree to a lower commission on your end of the deal.
• gut

  FatHobbit;1072076 wrote:This is what it comes down to IMO. You are basically paying an extra $12,000 more to get the house you want. Is it worth that?

  Not necessarily. You're assuming the offer is $12k below market or that he can indeed do better. Other than countering, I'd guess the longer it sits on the market the more aggressive potentials buyers will be lowballing the asking price.
  
  Until you actually step-down either in size or quality of the home, this is all fairly theoretical/paper losses or gains. Let's say he waits and sells two months down the road for $12k more, but now an equivalent home he likes or wants to buy is $20k more than this one. In that scenario, did he just lose $8k?
  
  It's always tricky trying to time a sale and purchase. The simple solution is buy what he wants, and then roll the dice holding out for a better offer on his current home. Obviously, he doesn't want to take the risk and in the grand scheme of things, $12k may not be all that much (consider taxes, utilities, insurance and interest each month - wipes out that $12k pretty quick).
  
  The temptation is "gee, I got an offer after just 2 weeks, it must be underpriced". Maybe. And be careful listening to the realtor - he/she doesn't have much incentive to try and get you another $12k.
  
  Really the only way to remotely quantify all this is to compare FMV of the two homes. Problem is, that's a fairly lousy metric. But it will give you peace of mind if you can convince yourself you lost $6k FMV on your home but gained $9k on the other, netting +$3k in FMV
• Steel Valley Football

  Ironman92;1072711 wrote:Jesus the knowledge being spewed on this thread is silly.
  
  Let's keep it simple. If you are hesitant to accept the offer knowing you love this new house....don't do it.
  
  Wait it out some....you got a decent offer that quick...you'll get what you want.

  
  With respect, you are making very little sense. Why would he get better offers the longer his house sits on the market? Gut has it right but it's even simpler than his explanation.
  
  Assume Zwick's local housing market is down around 25% for our example over the last five years. Five years ago, Zwick paid/built for $200k and the new house he wants was built/sold for $400k.
  
  The current market value of Zwicks house is $150k and the new house is $300k. Should he take the $50k loss to buy the $400k house at a $100k discount? The only solid data we have about the market is that it is cyclical.
  
  I think that's what he is asking anyway. With different numbers obviously.
• Steel Valley Football

  Con_Alma;1072183 wrote:Areed. I have no interest in appealing at the curb to another with my residence but Belly's comment wasn't a suggestion for me it was a suggestion for Zwick and his situation. Mine has nothing to do with it.

  I contend that you do and can likely prove it.
• Steel Valley Football

  Tiernan;1072486 wrote:The rest of us only see a complete doosh from the Rust Valley that should the OC ever hold an annual convention would be on my short list of wankers I'd just walk up to and straight cold cock without ever saying a word.

  
  I'll bet I can take it. The real question is why you sucker punch. I was raised to fight like a man.