Dear potential home “seller,” I call you a potential “seller” because you can’t really be considered that until you get out of your delusional state and SELL your home to somebody. You, sir, have sold nothing. And really, it has been about a year since you have been trying to sell. Your house has been on the market over 175 days this go-round, and it was on the market for a long time before you pulled it off to make some last-ditch efforts at improvement last time. I hope those mortgage payments and tax bills are treating you well because with your actions, it would seem that not only are we at an impasse, but you are not going to see the end of those bills for a long time coming.
I know you bought the house three years ago for $250,000 and common sense would seem to indicate that maybe it would be worth more now, but you can’t just count on it. First of all, this is the Cleveland area. Maybe real estate prices boomed in tons of markets around the country in the last five years, but not here in the suburbs of Cleveland. This is a buyer’s market. Maybe your realtor should have told you that in the nearly 365 days that your house has been sitting vacant on the market, unloved and unsold.
Speaking of unloved, this is another reason why your house has gained nothing in value since 2003. YOU DIDN’T UPGRADE ANYTHING EXCEPT THE KITCHEN. Your work in the kitchen was nice, and I am sure it was an improvement over what was there before, but you did a half-assed job. You replaced the floors, oven, refrigerator, counters and kitchen sink. Congrats on that, but while you had the counters out of there, you might have wanted to replace the older, chipping cabinets sitting underneath. Some might say that you gold-plated a pile of dung.
And you had some good buyers in us. You had buyers who had the vision to get that house where it needed to be. We were able to look past the scratched, bubbling, crappy tile in the laundry room. We were able to look past the pink painted walls and burgundy/pink wall to wall carpeting in the dining and living rooms. (Yes, I said Burgundy/Pink) We were able to look past the mold-stained tile ceiling in the bathroom. We were able to look past all the windows with broken seals; the siding that had mold and moss growing on it; the driveway which will eventually be nothing more than a pile of black, flaking asphalt dust.
So, I am sorry that we will be unable to strike a deal, but maybe you should think harder about what you have and what you want for it next time. We weren’t trying to insult you, but you were definitely trying to insult us. We made our offer of $250,000 knowing that the house needs about $40,000 - $50,000 worth of work. At maximum, when the house is done properly, I think it could be worth between $300,000 and $325,000. So, when you listed it for $299,000 I thought you were a bit delusional, but I respected your tactic. At least maybe we could have met somewhere in the middle until you slapped us in the face with your counter-offer of $298,000. Dropping $1000 off of your asking price sends a message that you could have sent more tactfully and politely with two letters in a simple word.
N and O. That’s all you had to do. Just say no.
If I didn’t feel badly for wasting my realtor’s time, I would ask her to submit an offer for $240,000 just to flip you the real-estate bird. But I won’t waste my time.
In the meantime, I hope the house continues to sit and you eventually have to take even less than our offer for your house. Oh, and those mortgage and tax bills should just keep coming, and coming, and coming and coming…
Call me (groveling) if you need a bail out.
Sincerely,
FilteringCraig