Tuesday, September 30, 2008

To sell or not to sell

So, the weeks passed.

Dave came here in February for his birthday (and he got food poisoning when I took him out to celebrate his birthday...we spent the entire weekend dealing with that....).
He came back again for my birthday (and we picked out my engagement ring).
Then, I went to Oklahoma for a week in May.

By the time I went there, we had set our date.

While I was there, D and I worked out a basic outline for our wedding ceremony.
We talked about writing our own vows, and we discussed who would do the ceremony. We came up with ideas, and made reservations, for our honeymoon.

I went home and contacted my realtor, and asked my friend to marry us.

My place went on the market June 1.

I listed with someone I thought would do a good job, because I knew him and his wife from many years of working together at the Renaissance Faire.

I figured, while he had not the best rep with the rennies, this is his LIVELIHOOD...he was bound to do an actually GOOD job at THIS!!

Long story short is that he did not.
He dropped the ball.
He stopped returning my calls. He never put together the virtual tour he promised. He didn't list the property correctly. He never installed a key box (so no other realtors could access the property if he was not here to open the door).
He didn't show up when he said he would....and I had to fire him.

Had. To.

Because, you see, through these weeks and months, I had built up an idea in myself that moving to Oklahoma was now something I WANTED TO DO.

I was not comfortable with the "wait and see," lack luster attitude that my realtor seemed to have. I needed someone to be aggressive, and get this place SOLD!

The process of going from the original idea of moving, to putting my place on the market and preparing to move, took me through the gambit of thoughts and feelings.

Anyone who has uprooted their life to make it better has, no doubt, gone through this.

So, by the time I listed my property, I was READY to GO!!

And then, in the midst of the housing market being bad, the CONDO market took a sudden, sharp drop of 80%.

Yes, that's EIGHTY.

In the course of one month.

SO, not only did I hire a lazy realtor who did not do his job, but, add to the mix the fact that the condo market had been healthy ONE MONTH before I listed, and then it, too, collapsed like the rest of the housing market.

As a result of my realtor's shortfalls, what I ended up doing was hiring his boss. She assured me that, though the market had changed drastically since I listed, this property would be seen, and someone would place an offer in 2 weeks.

As of today, I am still on my second realtor, and my condo has been shown exactly 3 times since June 1st.

No offers.

But I do have to say that the new realtor did put up the virtual tour immediately. She installed a key box on her first visit, and she has been responsible for the 3 showings that have happened.

So...anyway...my husband lives in Oklahoma.
His son moved out of their apartment to make way for my arrival.

My condo is the one reason I am not there yet.

There are several factors at play here that keep me in place, that are related to the condo.

First of all, and most importantly, is my health.

Second is my desire to not have to actually PAY someone to buy my home! I have already dropped my price to the level at which I will be making NOTHING on the sale. My investment will have been for naught other than a roof over my head for the time I have been here.

The investment will not have grown one penny in that time. It's 6 years now.

Anyway, regarding my health, I have previously been diagnosed with adrenal insufficiency, and adrenal exhaustion.
My adrenals do not know how to function properly, so stress effects me more intensely than someone with normal adrenals.

The ideal situation would be the one that causes the least stress. That would be true for anyone, but for someone with stress related illness, it's multiplied.

That low stress scenario would be :

list condo
get married
sell condo
move
adapt to new home
adapt to being away from friends and family
get new job
start new job
etc....

The worst possible scenario for my health would be:

list condo
get married
condo does not sell
get job in oklahoma while still living here
quit present job on a friday
take TWO DAYS OFF to move, adapt to new home, and adapt to being away from friends and family (all during this two day weekend, because there will BE NO OTHER TIME for it)
start new job the following monday (this would be the only way i could afford to continue to pay my mortgage)
keep paying mortgage on home i no longer live in, making it impossible for me to contribute to my new household

OR

list condo
get married
condo doesn't sell
try to find a tenant
ask tenant to pay $1500 a month rent for a one bedroom
(so i can afford to pay my mortgage, the association dues, AND a manager to keep an eye on things)
move
etc.

OR

list condo
get married
condo doesn't sell
find a tenant willing to pay through the nose for a 1 bedroom
move
etc
tenant causes damage or disruption
i have to pay fines

I have had many people ask me "why don't you just pack up and GO?"

Do you think it's that easy? Perhaps when you see it all put the way I have above, you will understand my motives more clearly.

I could just pack up and go. Default on my mortgage and file bankruptcy, and ruin my health. Yeah, great idea.

But I really would prefer to start my life with D on a better note.

2 comments:

bhd said...

So maybe plan E is that you both cut corners and save save save until together you have the cushion you need to move without having a job right away. That's my vote anyway, since it looks like you might be in for the long haul with the realty market. Cuz I gotta believe living far away from your love has got to be grating on your nerves big time.

So know the numbers: get an estimate for the truck and crew, gas, motels, and at least 6 weeks expenses for the condo. Are you on Dave's health insurance? If so, can you get off yours at work and ask for a bit more money since your employer won't be paying your premiums? Are you in a 401(k)? Maybe suspend contributions to that until you've got that reserve. I'm just throwing out ideas.

Dustin said...

Good luck selling your condo in Colorado. I am selling my house in Oklahoma so maybe you and new husband would be intrested in mine. the website is www.2108dogwood.com

Dustin Merryfield