tag:blogger.com,1999:blog-9083286.post733832881217424101..comments2023-09-30T07:31:31.170-05:00Comments on Diary of a (Slow) Triathlete: Monday Bunday: ComparableAnn (bunnygirl)http://www.blogger.com/profile/04938134750150653386noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-9083286.post-2367714497100004772010-05-19T07:56:14.237-05:002010-05-19T07:56:14.237-05:00Well, crap.
Perhaps something will happen that wil...Well, crap.<br />Perhaps something will happen that will change the seller's mind about either the clause you would like him to include or his asking price, and this will turn into just a minor setback.<br />Best of luck to you. <br />(pass the popcorn)the Bag Ladyhttps://www.blogger.com/profile/17434610508260994331noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-42416898102527210352010-05-18T21:47:19.302-05:002010-05-18T21:47:19.302-05:00Having never gone through a buying a home, I have ...Having never gone through a buying a home, I have nothing intelligent to add to the conversation. But I will say I am sad to hear such a silly thing is holding everything up :( I hope something good happens for you guys soon! And I agree with D. moll -- lots of bunny doots to them!RoadBunnerhttps://www.blogger.com/profile/02628262932938865868noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-60660699998698490492010-05-18T10:33:12.390-05:002010-05-18T10:33:12.390-05:00Lot's of poops....This is just the sort of thi...Lot's of poops....This is just the sort of thing that makes me want to be an anarchist, don't they know you have a rabbit?d. moll, l.ac.https://www.blogger.com/profile/16007607538375968631noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-24707082744323707582010-05-17T23:51:18.773-05:002010-05-17T23:51:18.773-05:00@RG: I've had it appraised twice now, once by ...@RG: I've had it appraised twice now, once by someone who regularly does deals in this area. The problem is that underwriters now require recent (within 6 months) sales of comparable properties in order to set the appraisal price. There's nothing about the house itself that raises any red flags.<br /><br />The only sales in the last year, let alone six months, of houses of similar square footage, number of bedrooms and baths, etc, were in the bad neighborhood where prices are much lower. Therefore, we can't get underwriting. Even the loan broker agrees it's ridiculous, but it's not a regulation we have control over.<br /><br />There's a good likelihood that values will go up throughout this area over time, so I'm not unwilling to pay the seller's higher price, but if he's going to require that I pay in full within five years, I need something in the contract to protect me if values don't increase as quickly as we think they will. <br /><br />As of today, he's not willing to give me that clause. *shrug* It'll be entertaining to see him try to find someone else who can pay his price anytime soon. I might invest in a good popcorn popper so I can have snacks while I watch.Ann (bunnygirl)https://www.blogger.com/profile/04938134750150653386noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-47338161292932644552010-05-17T23:34:53.871-05:002010-05-17T23:34:53.871-05:00Now hang on a minute here, bunns. It just ocurred...Now hang on a minute here, bunns. It just ocurred to me - perhaps you can get an independent appraiser to look at it .. use the approach of what it would cost to build it new and then depreciate that based on how old everything is (or isn't) ... this might work especially if you can seperate the land value from the dwelling value.RGhttps://www.blogger.com/profile/02017190779860810318noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-59958315539654083182010-05-17T23:30:51.377-05:002010-05-17T23:30:51.377-05:00Yea - Poop, Poop!
RG says it must be due to the p...Yea - Poop, Poop!<br /><br />RG says it must be due to the previous bad lending practices has made everybody crack down. He also suggests that maybe you do not want to buy it at over the appraisal because you might get stuck with it down the line - unable to sell because no one else will buy at over the appraisal.The Bunnshttps://www.blogger.com/profile/07105710105027758176noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-81166370175625434932010-05-17T22:44:00.707-05:002010-05-17T22:44:00.707-05:00PoopPoopAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9083286.post-7813411982444354382010-05-17T22:43:35.853-05:002010-05-17T22:43:35.853-05:00PoopPoopAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9083286.post-88606711448208139492010-05-17T21:01:03.486-05:002010-05-17T21:01:03.486-05:00ACK, Ann. How frustrating and ridiculous! You...ACK, Ann. How frustrating and ridiculous! You're so right about dumb rules. I hope things ultimately work out.Thomma Lynhttp://www.thommalyngrindstaff.com/blognoreply@blogger.comtag:blogger.com,1999:blog-9083286.post-9732326195887934672010-05-17T18:38:10.029-05:002010-05-17T18:38:10.029-05:00Cadbury seems unsure of what to make of the stuffe...Cadbury seems unsure of what to make of the stuffed bun.<br />There are an incredible amount of stupid rules out there that seem to serve no purpose whatsoever. I am sorry this is such a mess for you.Christinahttps://www.blogger.com/profile/10162908970037557053noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-26029177021635474842010-05-17T10:57:25.536-05:002010-05-17T10:57:25.536-05:00Allow me to slam my head on my desk in tandem with...Allow me to slam my head on my desk in tandem with you... how utterly stupid.Susan Helene Gottfriedhttp://westofmars.com/blognoreply@blogger.comtag:blogger.com,1999:blog-9083286.post-12784493329494142502010-05-17T09:32:17.661-05:002010-05-17T09:32:17.661-05:00Oh, that's both sad and dumb on their parts, s...Oh, that's both sad and dumb on their parts, since I know how much you wanted to stay. The current market and lending rules are stupid, stupid, stupid. The larger problem is now the process, which keeps so many good and worthy borrowers out of the system, is choking growth and recovery and depressing housing values because so few perfectly qualified people can buy. Grrrr. Best wishes on it.Glennahttps://www.blogger.com/profile/02331252407069170477noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-84100666986019807932010-05-17T09:14:31.840-05:002010-05-17T09:14:31.840-05:00@Lisa: The problem is house size. Most of the hou...@Lisa: The problem is house size. Most of the houses in the neighborhood have been added onto over the years, so there are few remaining that have a comparable square footage.<br /><br />The seller can get his price only if he can find a buyer with sufficient cash to make up the difference between the appraisal value and the sale price. Right now, that would be about $50K, which I don't have.<br /><br />Since he seems quite certain that he can find someone who can give him what he wants, he isn't willing to work much with us on this matter. If we can't come to an agreement, it might be entertaining to sit back and watch him lose other opportunities to sell. Then again, maybe someone really will come along with $50K cash to put down. But if I had that much cash, I'd be buying one of the bigger houses. I have a feeling other buyers will feel the same way.Ann (bunnygirl)https://www.blogger.com/profile/04938134750150653386noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-38739018047019239182010-05-17T08:56:06.002-05:002010-05-17T08:56:06.002-05:00Bunnygirl, that's sort of absurd. If they can...Bunnygirl, that's sort of absurd. If they can't appraise the house until someone has a sale, but they can't sell until they get appraisal, does that mean no one in your house can ever buy or sell their home, ever? Seems impossible with that kind of circular issue. <br /><br />There HAS to be a way around this. I know you'll find it.Lisahttps://www.blogger.com/profile/15468713627933431744noreply@blogger.comtag:blogger.com,1999:blog-9083286.post-70265619961019931012010-05-17T08:13:13.887-05:002010-05-17T08:13:13.887-05:00That's quite flummoxing reason. I do hope thin...That's quite flummoxing reason. I do hope things turn around and you get past this absurdity.Leah J. Utashttps://www.blogger.com/profile/08497599109798015888noreply@blogger.com