I have been stressing out about our house in AZ on a pretty regular basis. Regular as in at least once an hour I think about it (in between thinking about what I feel like eating next and actually eating it). Long story short: the house is worth at least $50,000 less now than when we closed on it in June. Fanfreakingtastic. I just got off the phone with the real estate agent and learned that not only is the builder selling the homes for a lot less than what we paid for it but the other 2 houses for sale in the neighborhood are short sales. Short sales meaning they are selling them for whatever they can get out of them while damaging their credit score but avoiding foreclosure. But even with the super low price 1 of them has been on the market 6 weeks and the other 8 months.
This is the part where I want to swear really loud and a lot.
Ignorance is bliss because before that fun little phone call I was thinking we were probably gonna lose $30,000. Now I know that it will be considerably much more than that I am going to have to cut back on my thinking about eating time to make more time for the worrying about the house. However, the good news is that the house is only in my name so if we got real desperate we could short sale it and blow my credit rating into smithereens while leaving Jeff's untouched so when we buy another house in 15 years it can just be in his name.
The realtor said that it will probably be a couple of years before the market bounces back. And that QC was the hardest hit area in the county. Sweet. I am not at all opposed to moving back. I love that house and the weather there and wal-mart would be about .25 seconds away so what more could a girl ask for. Arizona has teaching license reciprocity with Utah seemingly few hoops to jump through so I bet Jeff could get hired there when he is finished with his student teaching this summer.
What a mess. Is it worth taking the hit so that Jeff can start working in Utah now? Or would it be better to just go back to AZ for a few years until we can sell that house for what we paid?
11 years ago
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3 comments:
Shoot that sucks. I'm sorry it just keep getting worse. I say you need to pray about it to try to get some answers on what to do.
What are the reasons you wouldn't want to go back to Arizona? I'm sure one thing is lack of help with the baby. But given what you mentioned--Jeff could get a license there, you already own a home, you liked it--what is holding you back from returning? Is Utah definitely where you want to be long-term? I mean, the only thing holding you there is a small part of Jeff's family--not even all of his siblings live in Utah, and you have no close family members there now.
Even if you're willing to do a short sale, it sounds like that might not help you out any time soon, if those others are sitting on the market for so long. You could put it on the market at a lower price and still have it sit there. Are you able to take a HUGE hit just to sell it?
It doesn't really seem to me there's anything you can do AT THIS VERY MOMENT--you can't move back, and even if you decide on a short sale, it's probably not going to happen immediately.
So go back to eating. And send me belly pics!
was this post before or after we talked? i hope before...i was feeling like a great sis after we talked the other day. it'll make me feel not so cool if you wrote this after!!!! and after all...it's all about me!
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