It’s A Buyer’s Market, After All

A year ago, I started filming what was to be my last episode of Property Sluts while I was at the Disney Social Media Moms Celebration. You see, shortly before heading to Orlando we placed a bid on a small ranch house that we thought we’d top off with a second story. A chain-smoking window had lived in what we termed The Smokin’ House for decades, so it smelled like an ashtray, and her brother-in-law had started building a “master bath” in the middle of the family room (without a permit) in the hopes of passing off that space as a master bedroom. It was a wreck.

Needless to say our bid was low. The night before we left town our agent called with a counter offer. As I remember it, we tried to put him off until we got back because nerves are running high before a family trip even without the pressure over whether to pay more than we intended for a house.

But we caved and countered. They accepted.

Shortly after our return and another tour of the house with a professional in tow, we cancelled our contract.

Thank goodness.

The house sold 2-3 months later for less than what we would have paid.

I was giving up hope for finding a house. We talked about renting. And then we saw and bought Casa de Renovation and I finally got to finish my video, the all-singing Property Sluts finale featuring an all-star cast on mombloggers, It’s a Buyer’s Market, After All.

I heard a real estate report that said prices are down the levels last seen in 2000, so the buyer’s market continues. This stinks if you want to sell, but if you’re ready to buy, you’re in luck.

Selfish Mom:
We’ve seen houses big and some houses small,
We’ve seen moldy basements and shower stalls.
Though the market is weak, sellers price like it’s the peak, but it’s a buyer’s market after all.

MacaroniKidNYC, Honest and Truly, Jen Rab, SAHM Reviews, and Dancing Hot Dogs:
Chorus:
It’s a buyer’s market after all,
It’s a buyer’s market after all,
It’s a buyer’s market after all,
It’s a buyer’s market after all.

Sweet Life, Rock and Roll Mama:
Interest rates are low, but the prices are high,
Even for estate sales where the owners have died.
The recession isn’t nice, you may need to cut your price
Cuz it’s buyer’s market after all.

Classy Mommy, Me:
Chorus

Same Old Shannon, French Foodie Mom, A Savings Wow:
The housing supply now exceeds demand,
So if you want to sell give your buyer a hand.
Though it’s hard to admit, makes you feel like sh*t, it’s a buyer’s market after all.

One Response to It’s A Buyer’s Market, After All
  1. Michelle
    May 1, 2012 | 2:54 pm

    Awww, I remember making that video. So fun! So wish I were there right now, although at least it’s a little warmer today 😉 Glad you found your right house – and so glad I’m not moving anytime soon.

    The first foreclosure in our neighborhood just sold. After the people were finally evicted last April (it had been in and house of foreclosure since 2004 and stayed in starting in 2008). I’m glad there are people living there again, but oh YIKES the price they paid!