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Author Topic: The housing market is really screwing up my bus project.  (Read 3284 times)
belfert
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« on: May 01, 2007, 09:34:05 PM »

I am putting a a fair amount of money into my house so I can sell it.  The reason for selling is to move to another house with a building large enough for the bus to store it and to work on it.  I started working on the house in January with the hope of putting it on the market by March 1st.  That date has long come and gone and I won't be done until June 15th maybe.  (I have so much work to do on the house I keep losing motivation to do it.)

My realtor just called this evening and said the market has dropped so much over the last four months that I would have to drop my price significantly in order to sell.  If I drop the price so dramatically I really can't afford to sell the house.

I may end up having to sell the bus for whatever I can get due to finances.  This whole project started as a way to get me a shop for the bus and now the housing market may end up forcing me to sell the bus.

On edit:  My mind is a little foggy this evening and I hope I can find a way to keep the bus after I run the numbers tomorrow.  This housing market still sucks!
« Last Edit: May 01, 2007, 09:40:36 PM by belfert » Logged
Dreamscape
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« Reply #1 on: May 02, 2007, 04:07:15 AM »

Hang in there!

My wife and I went through similar circumstances. We had to get creative in our situation. Be patient, it will all come together in time. It happened for us not in the time frame we needed or wanted, but it did happen. Look outside the box, do what you want to do.
Don't give up building your dream coach. Slow down a bit and see how you can make it all work.

Happy Trails,

Paul

Dreamscape
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edvanland
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« Reply #2 on: May 02, 2007, 10:22:52 AM »

Boy do I know that scenario.  I have to sell my house in order to retire.  Had it on the market for over a year.  My house is not in the low end area, but is in a rural area with a 2000 square house with garage, 1500 square foot shop, 900 square foot guest house, and a garage which is 35X70X17, yes the bus and five cars will fit in it.  The garage also 2 above ground lifts in it.
Now if I can just find a rich bus nut or Marathone owner who wants his vehicles in a garage I will have it made.
Yes the market is down but I am not out.  There is someone out there
Just hang in there and the one person will come by.
ED
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Wanting to retire and go full timing.
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« Reply #3 on: May 02, 2007, 10:52:14 AM »

Same thing down here is South West Florida. We live in Naples, one of the wealthy areas of our country. We are not wealthy and therefore we live 20 miles outside of town. Nice area, fairly expensive homes. In order to retire I have to sell our house. Right now both my wife and I are working (even tho' I am past retirement age). There are many many foreclosures in our neighborhood, from folks looking to flip this house and make a killing. Well they got stuck and it cost them their bankroll. Fortunately, we can afford our house, but we have to work. That means we can't travel. We can't sell our house, the most beautiful one one the street, because others are selling for $100,000  to $150,000 less than our house. The ones that are selling need fixing up but thats what buyers seem to want. A great big deal. So here we sit. Reading the posts everyday about someone traveling here and there. All we can do is sit back and say someday it'll be our turn. But this is sure now what we expected at this time of our lives.

I know it will come around, I just know it.

Dave Siegel, Naples Florida  PD3751
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« Reply #4 on: May 02, 2007, 01:22:14 PM »

I got lucky.  I sold my house in NH a year ago for asking price just before the market tanked.  The agent told me a few weeks ago that today it would be on the market for about $60,000 less.

Ross

PS...Another tidbit from my stock broker....He said that the US dollar is at a 26 year all time low. 
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« Reply #5 on: May 02, 2007, 01:25:17 PM »

This is great news for me!!! Grin

We are looking to buy a house in the next couple of months!  Darn things were way overpriced before.
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« Reply #6 on: May 02, 2007, 01:31:14 PM »

Do what it takes to make your dreams come true!

Ron
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cody
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« Reply #7 on: May 02, 2007, 02:01:14 PM »

I did my 25 for the state and retired at 49, we kept out home, in this area there is no change in the housing market like other area's had.  It's too small an area to be affected much by trends, I felt we had cash reserves that would keep us going and now 6 years later we're still doing fine.  The problem I saw was that many of my friends retired and sold everything and went fulltiming but after a year or two they decided they wanted to settle down again and now they had to look for a new home to buy and probably a new mortgage and basically start over.  Our house is paid for and costs very little to keep so we felt that this was the best option for us and it gives us a home base to operate from.
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belfert
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« Reply #8 on: May 02, 2007, 03:45:18 PM »

The market here never got as inflated here as other areas like out west, but prices are down probably 5% or so and houses are taking months and months to sell.

Had I tried to sell my house 12 to 18 months ago it probably would have sold in the first day or two on the market and most certainly within a week.  My house is a 5 year old house in an established neighborhood across the street from a popular lake. 

A lot of realtors still think it will sell in a reasonable timeframe because it needs zero work or remodeling, is newer, and has the lake view, but they may just want the listing.  I'm going to put it on the market as soon as the work is done and see if it sells.  If it sells, then I can find a new house.  If need be, I could probably live at one of those extended stay hotels for what my house costs me every month.

I'm not forced to sell by any means, but I will have to seriously look at selling the bus if the house doesn't sell so I have a little more breathing room.

Brian Elfert
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superpickle
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« Reply #9 on: May 02, 2007, 05:52:10 PM »

Tell Wife, "TAKE A HIKE"  I dont see any reason to sell your Pet project unless YOU thimk its to big a burden ?
Why does she think you should get Rid of Her. Wink. hehehe  Ya know, THAT might be the Answer  Grin

Paul.... hehehehe
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belfert
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« Reply #10 on: May 02, 2007, 06:41:11 PM »

Tell Wife, "TAKE A HIKE"  I dont see any reason to sell your Pet project unless YOU thimk its to big a burden ?
Why does she think you should get Rid of Her. Wink. hehehe  Ya know, THAT might be the Answer  Grin

I'm not married, have no kids, and never have been married.

I made some questionable financial decisions in getting the house ready to sell and now I may not be able to sell it for enough to make a move worthwhile.  My plan was/is to move into a less expensive house while still gaining a bus garage.  Selling the bus is the last thing I want to do, but reality may set in.

I can't really trim my expenses any more.  I don't smoke, drink, or eat out.  Many poeple piddle away more cash in a few days then I spend cash in a month.

Brian Elfert

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« Reply #11 on: May 02, 2007, 06:54:28 PM »

This is great news for me!!! Grin

We are looking to buy a house in the next couple of months!  Darn things were way overpriced before.

Darn!  Now you gotta buy it with them "deflated" dollars!   Wink
The housing market will recover soon...in most areas.  North Carolina has been lucky, so far.  Housing prices haven't slumped much at all around here.   
All the Yanks are coming down here with their inflated dollars and supporting the residential market very nicely!
Brian, if the location to which you wish to move is also valued a little low, maybe the home you wish to buy could be "lowballed."  If you get equal value, perhaps you could take a little less for your home, and pay less for the replacement?   
Good luck with all the selling and buying!  JR

« Last Edit: May 02, 2007, 07:04:15 PM by NJT5047 » Logged

JR Lynch , Charlotte, NC
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« Reply #12 on: May 02, 2007, 07:06:08 PM »

Tell Wife, "TAKE A HIKE"  I dont see any reason to sell your Pet project unless YOU thimk its to big a burden ?
Why does she think you should get Rid of Her. Wink. hehehe  Ya know, THAT might be the Answer  Grin

I'm not married, have no kids, and never have been married.

I made some questionable financial decisions in getting the house ready to sell and now I may not be able to sell it for enough to make a move worthwhile.  My plan was/is to move into a less expensive house while still gaining a bus garage.  Selling the bus is the last thing I want to do, but reality may set in.

I can't really trim my expenses any more.  I don't smoke, drink, or eat out.  Many poeple piddle away more cash in a few days then I spend cash in a month.

Brian Elfert



Oh, Ooops, my 2 brain cells got mixed up a bit.. I do think you should try your Damedest to keep the bus. Iv been in a similar situation and SOLD stuff, I regret it to this day.... But, you got to do what you got to do.. :-)
So , What do you want for her, and Where is she ?
Paul...
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Hartley
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« Reply #13 on: May 02, 2007, 07:11:04 PM »

Live in the Bus...... I did for 6 years... You get used to it even if it's not quite done...

Sell the house and wait for the right time and property while saving up to pay cash....

Just a thought...
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belfert
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« Reply #14 on: May 02, 2007, 07:46:23 PM »

Brian, if the location to which you wish to move is also valued a little low, maybe the home you wish to buy could be "lowballed."  If you get equal value, perhaps you could take a little less for your home, and pay less for the replacement?   
Good luck with all the selling and buying!  JR

It isn't as simple as selling my current house for less and buying another for less too.  I must sell my house for a certain amount to make a move possible.  When I first met with a few realtors last December, the price they suggested would have been high enough to meet my price plus some.  Due to the declining market, my realtor is now suggesting a listing price barely above the amount I need and I know no sane person is paying the listing price in today's market.

I can still pay my bills without selling the bus, but the money would certainly come in handy.  The whole point of selling my house was/is to free up cash flow with a cheaper house so I can spend some money on the bus and my other hobbies.

Brian Elfert
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