Comments on: Home buying fun in Evansville, IN- sellers are still greedy even when screwed!

By: Hyphen Mama

Hyphen Mama — Fri, 09 Jan 2009 03:50:19 +0000

What might be happening with these people who let their homes go into foreclosure is that if they sell for less that what they've got into it and what they owe in loans, they have to take cash to the closing to pay off those loans. Well, they don't HAVE cash, otherwise they'd have been paying their mortgage payments. Sometimes it's not a choice at all. It costs them nothing to live in the home as long as the bank will let them, then walk away with a foreclosure. Sure it ruins their credit, but at least it doesn't cost them money they don't have. Personally, I have little sympathy for the banks or the borrowers. I live within my means, which means that I don't live in my dream home or anything close to being a dream home. I drive an old car that I bought used. Yet, I still get to bail out the banks. My area is FULL of foreclosures on McMansions. I don't believe those people should get to keep their houses. I think they should get to live in WHAT THEY CAN AFFORD. Just like me. AND... if you are looking at houses that are also flooding... RUN THE OTHER DIRECTION!! NO MORE MOLD! Hyphen Mamas last blog post..Driving with the brakes on...

By: witchypoo

witchypoo — Thu, 08 Jan 2009 21:10:53 +0000

A friend of mine used a buyer's agent for her last two homes. She swears she saved a bunch. witchypoos last blog post..Thirteenth Day of Christmas

By: Talina

Talina — Thu, 08 Jan 2009 19:59:55 +0000

I had no idea the same stuff was happening there. I thought houses would still be selling like hot cakes in your area… Here there are about 8 houses within walking distance from us hat have been for sale at the same ungodly prices since we moved here. Guess what… They aren’t selling. People need to wise up if they actually want to sell their homes.

So how have you been lately?

By: Heidi

Heidi — Thu, 08 Jan 2009 19:12:23 +0000

I dont get it either. There is a house down the street from us that was up for sale for about 3 months. They were asking a crazy high number, something that maybe 2 years ago they bought it for, but it just doesnt apply to this economy!!! They actually had 2 low ball offers and they shot them down. Guess what? That was has been repo’d by the bank and is now sitting empty going on 8 months. Horrible. We keep going back to the idea of moving closer to better schools but I just dont think we would get a good sale on our house so we are staying put until things relax a bit…that and a few other reasons LOL! But…it sucks how greedy people are. If you dont want to negotiate and be realistic then dont list your house!

By: Talina

Talina — Wed, 07 Jan 2009 18:20:22 +0000

teeni »

I think we are all a bit divided in tiny ways and that is okay. Bottom line is greed sucks.

I don’t think the lenders are entirely to blame and neither are the borrowers but the greed from both sides got us in to this mess and until it stops being acceptable to be that blatantly greedy things aren’t going to change.

By: teeni

teeni — Wed, 07 Jan 2009 17:59:38 +0000

I think Donna B and I are on the same page. It sounds like she is saying what I was trying to say but maybe she said it better.

By: Dumdad

Dumdad — Wed, 07 Jan 2009 11:47:50 +0000

Good luck with your home hunting - and your baby. Dumdads last blog post..Snowed under

By: Donna B.

Donna B. — Wed, 07 Jan 2009 08:55:32 +0000

teeni, I have no sympathy for the banks or the ones getting loans they knew they could not pay back. What ticks me off is that the banks are getting bailed out, but the other side – the homebuyers – are not. How is that fair?

Sure, I’m supposed to look at the “big picture” and figure that the banks are more important to the whole economy than individual homeowners… but, when everybody is screwed, the screwing should be equally distributed, shouldn’t it?

Oh, you just shouldn’t have got me started!

As penance, I will share to valuable lessons I have learned over the last 30 years:

1) The people you talk to about what work needs to be done on your car are salespeople. They are interested in selling you services whether your car needs them or not.

2) Real estate agents work only for the seller. Their job is to talk the buyer into paying more.

Donna B.s last blog post..Random Thoughts and Links

By: teeni

teeni — Wed, 07 Jan 2009 06:19:04 +0000

I agree with you that sellers still want to make quite a profit. Nobody wants to get screwed but if all housing prices are affected then the only people getting screwed are the ones who would be better off staying where they are rather than panicking and selling/buying.

About the foreclosures – I agree that people should never loan more than they can handle – people really need to learn to live within their means. But I can’t place the whole blame on the people because if the bank is willing to give it to you and the bank is the one who has all the risk and is the one who checks everything out and okays it, it makes you feel reassured when getting the loan when they really shouldn’t have given it to you in the first place. What gets me mad is that the government thinks it is okay to bail out these companies who would have failed but has no problem making families homeless at all. THAT irritates me. Let the companies fail and let’s see some help for the little guys. I too struggle with the thought that they kind of deserve it because they brought it on themselves but I’m sure they figured the bank wouldn’t give it to them if it weren’t feasible. But I have no sympathy whatsoever for the companies being bailed out.

By: Talina

Talina — Wed, 07 Jan 2009 01:11:48 +0000

Donna B. »

I think it is more like they just don’t care. I mean the more the house sells for the more they make right? It will always be an uphill battle I think but to be all “we want to get out from under our 2 house payments” while whining about how tough things are financially when you are refusing to budge on sale terms is just asinine. Do you want to sell or not folks?

*sigh* Okay my ranting is over now…