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So I just wrote an offer to buy a house. I am freaking out. I know I sell Real Estate but I have never felt this nervous energy before. I've got married, not like this. I moved across the country to by far the biggest city I have ever been to, its not like this. Pull for me all of you. This will be the home that I start a family in. Here is the link for those of you who are curious. And don't give me a hard time about the price. Its expensive out here.

http://www.shorewood.com/ListingDetail.cfm?ID=112788

Congrats and good luck !! You on the bottom floor?? If soooo...that's a GOOD thing! Easier to move in and carry groceries inside.

Good luck frank

Thanks guys. I just had to carry in the groceries. I can't wait. I'm on the 3rd now.

frankcal20 wrote:So I just wrote an offer to buy a house.
...
This will be the home that I start a family in.

Congratulations to you and your wife.

Starting a family means more than two in the house, right? With two bedrooms you have a period to have either one child or two of the same gender up to a certain age. After that, those real estate skills of yours will have to do some magic to move out of the starter home. But you have some time to enjoy before that point.

I hope those Real Estate agents give a break to a colleague. You will do well in that market as a professional and also considering the resale value of the property (as crazy as it might sound).

I live in the country and I just don't get prices like that...1/2 mil? Wow. I go back to see my folks in Silver Spring and they live in a 1400 sq ft rambler built in the early 1950's and it's worth 450K. Unbelivable...

My house is nearly 4000 sq ft, brick with tudor, 4 bedrooms, 4 baths, screened in porch, 2 car garage upstairs, and garage downstairs under the porch, overlooking the ohio river, etc...it would go for 300K -- after sitting on the market for 4-6 months.

Good luck to you! Being married is a good thing...I'll be married 25 years this December...and wouldn't trade it for anything. Being single is scary stuff these days.

Ok, so I got the word today. With the house being on the market for less than a week, listed at $549,900, we offered $565,000 because it was in multiple offers with 10% down. WE DIDN'T GET IT.

The seller accepted an offer lower than ours but the buyer is putting down 25%. Its all cash in the end right. Who is this person's agent and why are they not advising them correctly.

Anyways, I'm going to run with the "Everything happens for a reason" quote but still a bit bummed. This will allow me to save more money and maybe afford something bigger or even a house. Those start at $700,000. Thanks for the wishes thought guys.

Wow...sorry you didn't get it. I sure hope your salaries coincide with the cost of real estate...cause those prices are ridiculous. Ahhhhh!!

frankcal20 wrote:Ok, so I got the word today. With the house being on the market for less than a week, listed at $549,900, we offered $565,000 because it was in multiple offers with 10% down. WE DIDN'T GET IT.

The seller accepted an offer lower than ours but the buyer is putting down 25%. Its all cash in the end right. Who is this person's agent and why are they not advising them correctly.

Anyways, I'm going to run with the "Everything happens for a reason" quote but still a bit bummed. This will allow me to save more money and maybe afford something bigger or even a house. Those start at $700,000. Thanks for the wishes thought guys.

Why would the seller care how much you put down?

JansenFan wrote:

frankcal20 wrote:Ok, so I got the word today. With the house being on the market for less than a week, listed at $549,900, we offered $565,000 because it was in multiple offers with 10% down. WE DIDN'T GET IT.

The seller accepted an offer lower than ours but the buyer is putting down 25%. Its all cash in the end right. Who is this person's agent and why are they not advising them correctly.

Anyways, I'm going to run with the "Everything happens for a reason" quote but still a bit bummed. This will allow me to save more money and maybe afford something bigger or even a house. Those start at $700,000. Thanks for the wishes thought guys.

Why would the seller care how much you put down?

The seler wouldn't want the deal to fall through, is what I'm guessing.

25% of 549K is 137K, and the buyer won't have trouble finding financing.

At least that's my guess.

Its not an issue of financing. We have been preapproved for up to $650,000. What I think is that the listing agent steered them toward that offer. The sad thing is the Seller is an Attorney. You would think he was smart enough. Either way, it must not have been meant to be. I'll keep you all informed of the SoCal Real Estate Drama. Welcome to my world. For those of you that don't know, I sell Real Estate with Coldwell Banker. Its completely different when your on the other side.

Sorry about the news man. However, there is a bright side to it:

The bigger the down payment you make the next time, the less expensive the amount of interest you pay to the bank will be.

I always have maintained that buying a house with a relatively small down payment is like buying actually two homes and the bank keeping one for them.

You are right. It did not happen for a good reason. You'll come up with a great opportunity for yourself in your line of work.

No, you are right RIC. Thats why you have to make atleast 2 extra payments a year on your mortgage. Its disgusting to see the "Total of Payments" if you add it all up. I think that you almost always pay double or there abouts.