03-29-2010, 09:08 AM
Aloha,
I just recently purchased some land and I'm building a house. My realestate agent did try to sell me an existing house, but once I factored in what it would cost to repair or get up to date it was cheaper to build. It could be where I was looking, but I honestly feel that owners hold on to unrealistic selling prices until no one bites and then shortsells or goes into foreclosure. This very thing happened to me on a house that I wanted, I was so mad because someone picked up the house for less than my original offer...much less. Agree, that many people are upside down on their loans and they have to sell for at least what they owe.
I just recently purchased some land and I'm building a house. My realestate agent did try to sell me an existing house, but once I factored in what it would cost to repair or get up to date it was cheaper to build. It could be where I was looking, but I honestly feel that owners hold on to unrealistic selling prices until no one bites and then shortsells or goes into foreclosure. This very thing happened to me on a house that I wanted, I was so mad because someone picked up the house for less than my original offer...much less. Agree, that many people are upside down on their loans and they have to sell for at least what they owe.