I put my money where my mouth was - I'm out baby, I'm out!

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We approached the owners and suggested renting it, which they hadn't considered before, and they decided to go that route. I tried this approach with several owners and I can tell you - the amount of denial/ignorance is staggering.

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Have you ever considered that people have a natural aversion to being "landlords?" I've heard the horror stories all my life. One renter cut down a 100 year old oak tree for firewood when he skipped out in the dark of night.

From a fellow renter, who did almost exactly as you did:

I didn't realize how stressed I was about the burden of owning a home in Marin County until I signed the papers. I wish my timing in the rest of my life was half as good as it was in selling my house and leaving California. I love renting! If we stay here in LA, I'm looking forward to buying a nice house on a big lot in my old neighborhood for a considerable discount from right now. The number of "For Sale by Owner" houses is a great indication of how unrealistic people are, still.

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From a fellow renter, who did almost exactly as you did:

I didn't realize how stressed I was about the burden of owning a home in Marin County until I signed the papers. I wish my timing in the rest of my life was half as good as it was in selling my house and leaving California. I love renting! If we stay here in LA, I'm looking forward to buying a nice house on a big lot in my old neighborhood for a considerable discount from right now. The number of "For Sale by Owner" houses is a great indication of how unrealistic people are, still.

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JT knows my story. I did the same in 2005. Peaked almost the top in denver (missed by 4 or 5 months).

Feels good to rent. We spend way more time with friends than we ever did owning. Plus on the weekend, home improvement projects - no way, we got out and play. Its very nice to not be focused on this.

Congrats to you JT. I was asked to help out with a wendys in tacoma. So I might be in the area soon. I will let you know if it happens.

Still @ Ihaterealestate@ gmail. com?

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Why not just stay in the house you bought till the market comes back?

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Seems like it would of saved you lots of worry.
Please don't be fooled into thinking the market won't come back.

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Your wife sounds like mine. I asked her to sell the house she'd just gotten settled into and leave the place she'd finally felt comfortable with, while four months pregnant, to move back home. The woman trusts me, I don't know why. And to cap it off, she kept me from blowing the sale of our house over $6k. I had my fill of the buyers' nitpicky bullshite and was going to tell them to stick it up their arse but she reminded me why I wanted to get out and that we might not have another serious buyer for six months and the difference was a drop in the bucket. Love that woman. I ended up taking a slight loss, most of that from the real estate commission. All in all, I think I was very lucky to get out when I did.

I'm with you on realtors. I didn't get as good a deal as you did, I paid 1.5% on both sides, but I did enjoy slapping the agents around. They are still living in lala land in NorCal about that. I can't tell you how many moronic agents I met over the years looking at houses. People who were probably making low six figure incomes who couldn't find their asses with both hands. That is a business that I am hoping has serious fallout over the next decade or so as people get access to more and more information. In my experience, they add zero value.

Renting here has been a bit different. My landlord, probably like yours, doesn't own any other property, just the house they live in, and the one I'm renting. They're not johnny on the spot with repairs and such, but I know them, so it's not a problem. It could be tricky with a landlord in financial trouble who has no experience. I'm a little worried about that.

LINK

Of course it will be back. I mean just look at that link, the situation has clearly improved and the outlook is fantastic for the housing market.











Or not.

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Renting here has been a bit different. My landlord, probably like yours, doesn't own any other property, just the house they live in, and the one I'm renting. They're not johnny on the spot with repairs and such, but I know them, so it's not a problem. It could be tricky with a landlord in financial trouble who has no experience. I'm a little worried about that.

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Our owners are using a property management company, so it's not bad. We just go straight to him.

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And to cap it off, she kept me from blowing the sale of our house over $6k. I had my fill of the buyers' nitpicky bullshite and was going to tell them to stick it up their arse but she reminded me why I wanted to get out and that we might not have another serious buyer for six months and the difference was a drop in the bucket.

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Nice. I felt kind of the same way at some points, but I kept forcing myself to project my view forward. There were very few scenarios that I could construct that didn't make it smart to sell.

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rubes

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I laugh every time I see this word. Its the most awesome word.

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So, what's the story on the stupid rubes who bought your place from you?

ETA, nevermind. I see you talk about them in here.

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Eh, I don't mind retyping. They thought they were lowballing me, even though I priced it to where I thought it would sell almost exactly what they bid. And they tried to stick it to me on all manner of stupid, small shite that I gave in to, knowing that they would be $100K down at least inside of 18 months.

They are from Canada, but moved down here like a year ago. They were renting, which was another huge plus to having them as buyers (no contingencies). The guy works for BoA, so I wasn't too happy last week when the 35000 layoffs were announced.

And to top it all off, my move got snowed out.

How long was your house on the market? Any other offers? Any super-lowball offers? (Just trying to get a feel for the housing marketplace in general from the ground level)