The house is just over a thousand feet. I think this is size for a single gal.
Still no other offers. I do know it was a short sale on the market for 276 days before they foreclosed on the house. Now what do I do?
house follow up....
December 12th, 2008 at 02:55 am
December 12th, 2008 at 03:31 am 1229052719
December 12th, 2008 at 05:23 pm 1229102629
There will always be MORE houses.
The reason is twofold. I would not commit to a mortgage like that with a State job right now. The State has serious issues and admits it will have serious job cuts.
It's more than just that. With the layoffs (& there are many in private sector as well), home values will continue to dive. IT's kind of a vicious cycle. You don't want to be stuck with a mortgage, no job, and dropping home values.
I also think you could fine a better deal, even today. Do you have a realtor helping you? What you really need is someone who knows where the good deals really are to be had. WHo has a better idea how much to offer on a home. Etc., etc. I'd settle on a price you could afford even with a year off work or something. I'd hire a realtor to sniff something out for you.
Or, just make an offer you can afford. Don't sweat it if you lose it - like I Said - there will be more.