# I am giving up buying a house.



## rusty2009 (Mar 5, 2010)

First our house we were having built turns to a lemon. The last Thursday a house comes on the market in Pearland that we love. We are the fist ones there and turn in the first offer. The asking price. with no stipulations. which I have never done. Then friday we get a call that there are twelve offers on the house and that we were first. So they tell us they are going with highest and best offer so we up our bid by $5700 and waite. Last night after waiting on pins and needles for 3 days we get a call that we are not the high bid. They would like to go with us because we were first but they want another $3000. I can't and will not play these games. I have been in sales for over thirty years if I played games with my customers like this I would get a very bad reputation fast. How is it all right for realtors to get away with this.


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## bill (May 21, 2004)

Stay calm, keep your wits...and walk away. No need in adding stress by playing games.

Another house will come along. Your in control.


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## agonzales1981 (Jun 12, 2008)

If it's a house y'all really love $3000 is very little over the life of a loan. Houses go quick here!


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## Bazooka (Dec 10, 2011)

We sold our house in Alabama last summer and had 2 weeks to be out. We hauled arse over here and started looking. The three houses we liked were all newly listed and all three went into a bidding war. We rented, something I have never done.


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## saltaholic (Feb 19, 2005)

If you like the house pay the 3k extra. The housing market in south houston is crazy right now.


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## rusty2009 (Mar 5, 2010)

I am in an apartment right now. I think I will move into a bigger apartment for a year or two and wait for the games to end.


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## tngbmt (May 30, 2004)

it's a new game agents are playing.. lists the house just to attract buyers then raise the price thru bidding wars. 1st question i'll ask is are you selling at asking price .. if not, i'm walking away not even viewing the property


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## cwbycrshr (May 23, 2013)

Rusty,
honestly...take the deal...now! These are not games. Across the board Texas has a serious crises of low inventory in housing and it is not going to let up, barring any major disasters (terrorist attacks) for 7-10 years. Which means home prices are going to continue to climb 5-8% per year and interest rates will eventually go up. 

That extra $3K will look real good come next year. Trust me...I see it every day. Iv'e had them sell with 1 day on the market and 22 offers in 21 hours, and sold 10% over list price, with guaranteed cash difference should it not appraise. Time and and time again. In my area (and pearland, sugarland, the woodlands, etc are just like it) we generally need 140 houses on the market for a normal market (not a sellers and not a buyers market). We have not gotten over 80 houses on the market in almost 18 months. We currently have 55 between $185K and $950K. 

It's not games...just business. Why should a seller turn down and extra $?


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## cwbycrshr (May 23, 2013)

tngbmt said:


> it's a new game agents are playing.. lists the house just to attract buyers then raise the price thru bidding wars. 1st question i'll ask is are you selling at asking price .. if not, i'm walking away not even viewing the property


It's called supply and demand. We have a low supply and a huge demand coupled with low interest rates. Realtors have nothing to do with the economy and can not tell the sellers to take the first offer that comes along when we know there will be others that will pay more. It's called fiduciary duty.

Good luck to you in finding a house with that mentality when there are 20 others trying to buy the same house. At the end of the day, if it appraises and you get locked into a 3.75% interest rate for 30 years instead of 6.5%, why are you sweating what the number on the contract says?


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## rusty2009 (Mar 5, 2010)

When you give somebody what they are asking you shouldn't go up on the price. What if the car dealers, the boat dealers, and gun dealers did that would you be shelling out more. I think not.


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## Ernest (May 21, 2004)

A deal becomes a deal when the seller accepts your offer. Its not who is first. Its not who offers just the asking price. The seller can even pull the house off the market after you make an asking price offer (assuming they have not signed the E Money contract.) 

That's the market in many hot areas. Any decent agent will tell you the same thing. If you want to buy a house in a hot area, be prepared to tour the house as soon as it hits the market and make an offer in excess of the asking price that same day. That is, if you truly want to buy the house. 

Its called a seller's market for a reason.


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## Cypress jaws (Mar 29, 2012)

I know it sucks!! It is a sellers market and the "games" can make the buyer angry but ask your self this $3000?? If you rent, what is your rent per month? You are throwing that money away ...that $3000 you will never see again and probably hate living in an apartment not to mention the moving cost and the hassle of moving phone cable lights, etc. 
Take it and move on!!but those are my thoughts! Good luck and pray about it, He will give you the answer.


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## jamisjockey (Jul 30, 2009)

rusty2009 said:


> First our house we were having built turns to a lemon. The last Thursday a house comes on the market in Pearland that we love. We are the fist ones there and turn in the first offer. The asking price. with no stipulations. which I have never done. Then friday we get a call that there are twelve offers on the house and that we were first. So they tell us they are going with highest and best offer so we up our bid by $5700 and waite. Last night after waiting on pins and needles for 3 days we get a call that we are not the high bid. They would like to go with us because we were first but they want another $3000. I can't and will not play these games. I have been in sales for over thirty years if I played games with my customers like this I would get a very bad reputation fast. How is it all right for realtors to get away with this.


And 4 years ago, it was **** near name-your-price as the buyer. The market is up. It is what it is.


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## Bazooka (Dec 10, 2011)

rusty2009 said:


> When you give somebody what they are asking you shouldn't go up on the price. What if the car dealers, the boat dealers, and gun dealers did that would you be shelling out more. I think not.


I agree. There should be a law that says if you list it for X dollars, the first person that agrees to pay your X dollar asking price owns it.


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## StinkBait (May 31, 2004)

rusty2009 said:


> When you give somebody what they are asking you shouldn't go up on the price. What if the car dealers, the boat dealers, and gun dealers did that would you be shelling out more. I think not.


Big difference, there is no shortage of regular cars, boats and guns.


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## houtxfisher (Sep 12, 2006)

> I agree. There should be a law...


Yea! Obama should regulate this!


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## 47741 (Jan 5, 2010)

I don't understand the market down here...why the boom?


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## speckle-catcher (May 20, 2004)

Bazooka said:


> I agree. There should be a law that says if you list it for X dollars, the first person that agrees to pay your X dollar asking price owns it.


more laws?

dumbass.

:rotfl:


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## Part Timer (Jul 2, 2012)

rusty2009 said:


> When you give somebody what they are asking you shouldn't go up on the price. What if the car dealers, the boat dealers, and gun dealers did that would you be shelling out more. I think not.


If you were selling your house for say 100k and 12 people offered you 110k would you say, "thanks but i was only asking 100k so that is all i will accept"? I think not. 3k for a house yall really like is not worth walking on in this market. How much are you going to spend in rent to wait out this market? A lot more than 3k im sure. I would take the deal. They are being nice and im sure just trying to get you to match the best offer. They could have just taken the other offer and been done with it.


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## RRfisher (Mar 5, 2007)

I can't believe someone at your age would start a thread on a fishing website complaining about someone else capitalizing on their situation. Your first sentence confuses me, did you start to have someone build a house for you and then you backed out on the deal?


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## Bazooka (Dec 10, 2011)

speckle-catcher said:


> more laws?
> 
> dumbass.
> 
> :rotfl:


I was not seriously calling for a law to be enacted and if I were, there are far more idiotic laws than this. And no need for name calling...

dipchit.


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## poppadawg (Aug 10, 2007)

I think it would be smart to hold off in the Houston area. If oil and NG prices stay depressed, it is just a matter of time before the real estate market is affected. Boom gonna bust. I heard that Midland has lost 15% of it's population. Don't know if thats accuarate or not, but if it is, wow!


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## cwbycrshr (May 23, 2013)

Bazooka said:


> I agree. There should be a law that says if you list it for X dollars, the first person that agrees to pay your X dollar asking price owns it.


Sometimes you just can't help but laugh.

So, if you put your house on the market for $250K and you get 20 offers, 5 at list price, 5 below list price, 9 at $10K over list price, and 1 at $20K over list price you will go back to the 1st offer, regardless of strength, closing date, or the buyers loan terms, and take the offer, passing up a $20K over list price all cash offer? :headknock


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## SSST (Jun 9, 2011)

Rusty was born and raised here in Shiner, that just ain't the way you do business around these parts, a realtor would be run outta town quick if they did. I know what i would tell them, but that's just me. My brother just sold a townhouse inside the loop the first day it was on the market, he just said he sure wished he would've asked more, but he darn sure didn't let people start a bidding war. The first couple gave him the asking price, so it was theirs.


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## Bazooka (Dec 10, 2011)

cwbycrshr said:


> Sometimes you just can't help but laugh.
> 
> So, if you put your house on the market for $250K and you get 20 offers, 5 at list price, 5 below list price, 9 at $10K over list price, and 1 at $20K over list price you will go back to the 1st offer, regardless of strength, closing date, or the buyers loan terms, and take the offer, passing up a $20K over list price all cash offer? :headknock


Listen people...this is one of those "there ought to be a law" statements made in jest out of frustration. Where I come from this wouldnt fly. Its just a f'ed up way to do business, thats all.


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## cman (Apr 17, 2009)

If you love the house, do it. 
You will recoup that money paying your own mortgage vs. someone else by renting. 

Get some of it back after the inspection.


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## Spirit (Nov 19, 2008)

Bazooka said:


> I agree. There should be a law that says if you list it for X dollars, the first person that agrees to pay your X dollar asking price owns it.


Then what is the purpose of OBO? Its who will pay the most.


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## rusty2009 (Mar 5, 2010)

Guys the Lord works in Mysterious ways. I just got a call. They took our offer without going up the $3000.00. I am beside myself right now. Thank you Jesus.


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## Bazooka (Dec 10, 2011)

Spirit said:


> Then what is the purpose of OBO? Its who will pay the most.


What do expect..I'm a buyer. If I were a seller I'd be saying the exact opposite.:biggrin:


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## houtxfisher (Sep 12, 2006)

Simple economics, you were either a better risk, or the higher offer was rescinded. Also known as the free market economy. Congrats on your purchase.


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## Bazooka (Dec 10, 2011)

rusty2009 said:


> Guys the Lord works in Mysterious ways. I just got a call. They took our offer without going up the $3000.00. I am beside myself right now. Thank you Jesus.


Well there ya go! Good on you Rusty for sticking to your guns when they were playing stupid games. They didnt even have a higher offer just wanted you to be a sucker and take the bait.


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## agonzales1981 (Jun 12, 2008)

rusty2009 said:


> Guys the Lord works in Mysterious ways. I just got a call. They took our offer without going up the $3000.00. I am beside myself right now. Thank you Jesus.


Congrats!! What part of pearland?


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## MarkU (Jun 3, 2013)

Glad it worked out for you!


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## Part Timer (Jul 2, 2012)

Bazooka said:


> Well there ya go! Good on you Rusty for sticking to your guns when they were playing stupid games. They didnt even have a higher offer just wanted you to be a sucker and take the bait.


Or they were just good people and wanted their house they had made into their home, go to a good family. Glad it worked out either way! I read your other thread about the house build. Now you can rest easy finally.


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## jdusek (Apr 7, 2006)

That is happening in Austin like crazy. You have to bid over on asking to get a house. It is a good position to be in if you are moving out of town. My house is way up in value I would love to sell and move out of town a ways.


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## SSST (Jun 9, 2011)

Congrats Rusty!


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## WGA1 (Mar 1, 2012)

It has happened just like predicted. For the past several years people were terrified to buy a house or just couldn't get a loan due to the tight lending guidelines. Prices were depressed and builders quit building. Now the foreclosure market has dried up, interest rates are low, mortgages are slightly easier to get, and there is a housing shortage. People with money captured the opportunity and bought while prices were depressed and rented those homes while rents were skyrocketing. Rents are still skyrocketing and so is the price of those foreclosed homes they bought. It was all one big investment opportunity.


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## DCAVA (Aug 5, 2013)

Congrats sir!!


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## jtbailey (Apr 29, 2012)

Congratulations Rusty !!! May God bless your new home and many memories be made there.


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## JED (Nov 14, 2004)

Why not accept the extra 3k, then try to get it back with concessions after the option period. They will be ready to close and more ready to deal rather than re-list it. It may or may not work but at least you get the house you all want.. Your realtor should have suggested that in the first place


Never mind, just read that you got the house. Congrats


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## TheRooster (Jul 15, 2012)

Lol I'm in the same boat, I've been looking for a house for 3 months now and every time I find a house I like, I call the realtor about it and I'm informed there already about 15-20 bids on it, going to an open house this weekend and hopefully I can at least get my bid in, we will see, I'm just tired of seeing a single wide on an acre and a half on HAR going for 250k, good god lol


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## Cypress jaws (Mar 29, 2012)

God is good to us... I threw my paddles away a long time ago...so much easier letting Him guide your life and thanking Him everyday.


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## DPFISHERMAN (Jun 6, 2011)

Congrats Rusty!


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## BrandonH (Oct 15, 2006)

I'm in Pearland and nearly every house in my neighborhood had sold within the first week off listing and most within the first 2 days. Most of these same houses are selling for thousands to tens of thousands above asking.


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## fangard (Apr 18, 2008)

Bazooka said:


> Listen people...this is one of those "there ought to be a law" statements made in jest out of frustration. Where I come from this wouldnt fly. Its just a f'ed up way to do business, thats all.


Done all over the country, and much of the civilized world I would imagine.

The only reason it "won't fly where you come from" is because the market conditions will not allow it.


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## Bull Red (Mar 17, 2010)

rusty2009 said:


> Guys the Lord works in Mysterious ways. I just got a call. They took our offer without going up the $3000.00. I am beside myself right now. Thank you Jesus.


Congrats Rusty! I'm glad you didn't play their game a 2nd time. You already offered them $5,700 over asking price. Which neighborhood?


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## Yams (Jul 16, 2008)

I wonder if the market is this good out in my neck of the woods. We have tossed the idea around of trying to get something a little bigger.


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## Spirit (Nov 19, 2008)

Yams said:


> I wonder if the market is this good out in my neck of the woods. We have tossed the idea around of trying to get something a little bigger.


It probably is but better look to see how much those bigger houses have gone up. Might not be such a good time to buy, just a good time to sell.


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## G-Money (Aug 3, 2007)

Hey Rusty. Want to live in Katy on 3 acres ,1-1/2 mile off I-10, 2 miles to Katy High, 1-1/2 mile to Elementry school. 3 bedroom 2bath 450k.


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## BretE (Jan 24, 2008)

Yams said:


> I wonder if the market is this good out in my neck of the woods. We have tossed the idea around of trying to get something a little bigger.


I'm about to find out, my house goes on the market today......


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## 61Bubbletop (Apr 29, 2011)

Congrats on the purchase. We lost out on several houses. Did not want to get into a bidding war. We found a house we liked & made a appointment to look at it the day it went on the market. Got a call a couple of hours later & was told it had already sold for cash. Then got a call a few hours later saying it had fallen though because the buyer could not get their cash money for 3 month, so the seller said take a hike, she couldn't wait. Note: If you are going to pay cash for a house, shouldn't you have your money at hand? Idiot!!! We rushed over, looked at it, & decided to make a offer for the asking price. Our agent called her agent who then said the asking price was a mistake, it was 10K more. We said take a hike. Got a call the next morning taking our original offer. Like some have said. Games some people are playing. I think this was the agent trying to get a extra 10K. We are now off of Fairmont Pkwy, just west of Red Bluff.


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## OnedayScratch (May 23, 2012)

NEVER pay more than you can afford. You have walk away power. I also wouldn't finance more than 15 years with no less than 20% down.


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## OnedayScratch (May 23, 2012)

rusty2009 said:


> Guys the Lord works in Mysterious ways. I just got a call. They took our offer without going up the $3000.00. I am beside myself right now. Thank you Jesus.


Good job!


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## workorfish (Sep 5, 2007)

*Congrats Rusty*

Funny thing, I move to Santa Fe to get away from Pearland - Rusty is doing the opposite! Our kids still live there though - they will do fine as they bought before the mad rush.


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## customflat (Nov 11, 2005)

*Sellers market. Period.*

Folks, as a realtor for a long time, I have never seen a SELLERS MARKET in the Houston area like this. I just wrote eight offers for my son and daughter in law, all at list or above, and got outbid every time. My son was very frustrated and rightly so, but the economics of supply and demand are dictated by the number of homes available (LOW) and the number of buyers (HIGH). I finally found them a new construction home so the hunt is over. There are bidders out there who make very high offers for homes knowing the home wont appraise but they have the seller tied up. Their game is to tie the house up and beat the seller down when it doesn't appraise. Keep looking and you will find something you like, just don't fall in love with any home before you own it!:texasflag


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## BullyARed (Jun 19, 2010)

Rusty, you should have bought a cabin cruiser and you can fish every day and don't have to worry much about property taxes.


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## Profish00 (May 21, 2004)

If the home appraisal comes in below offer price that will be money out of pocket, so it aint over yet.


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## aggiefishinDr (Sep 1, 2005)

The market in the northwest side of SA is the same. I listed my house last month and had 18 showings in 2 days and 8 offers. Stopped taking offers after 8 since all offers were above my asking.


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## speckle-catcher (May 20, 2004)

customflat said:


> Folks, as a realtor for a long time, I have never seen a SELLERS MARKET in the Houston area like this. I just wrote eight offers for my son and daughter in law, all at list or above, and got outbid every time. My son was very frustrated and rightly so, but the economics of supply and demand are dictated by the number of homes available (LOW) and the number of buyers (HIGH). I finally found them a new construction home so the hunt is over. *There are bidders out there who make very high offers for homes knowing the home wont appraise but they have the seller tied up. Their game is to tie the house up and beat the seller down when it doesn't appraise.* Keep looking and you will find something you like, just don't fall in love with any home before you own it!:texasflag


 and there's the truth


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## rusty2009 (Mar 5, 2010)

BullyARed said:


> Rusty, you should have bought a cabin cruiser and you can fish every day and don't have to worry much about property tax. quote ///////// That was my first option but Denise wasn't having any of that. Also wanted a house on the water. That didn't work either.


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## rusty2009 (Mar 5, 2010)

Profish00 said:


> If the home appraisal comes in below offer price that will be money out of pocket, so it aint over yet.


I don't think I will have a problem with appraisal. With all the homes we looked at this house was priced to sell fast. It is also immaculate and ready to move in. We looked at 20+ houses in the last 3 weeks this was by far the nicest


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## Ernest (May 21, 2004)

*There are bidders out there who make very high offers for homes knowing the home wont appraise but they have the seller tied up. Their game is to tie the house up and beat the seller down when it doesn't appraise.*

But, you often can keep their earnest money, and in the meantime, assuming no home market bust, your home increases in value. Make the e-money right, and you will clear out some of the posers and players.

Here is where a good realtor is key. They will know roughly what your house will appraise for, and if you are out too far over your skis, they will advise you on how to protect yourself as the seller if the house will not appraise close enough to sales price.


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## Longshot270 (Aug 5, 2011)

Try being fresh grad with near entry level job trying to get a house. I know the max I'm willing to pay and the max I can pay and neither are high enough for these realty games. Saw a smaller double wide trailer with a $100,000 price tag on virtually no land in San Antonio. Pass.

Luckily I made good connections in college and have cheap rent on pristine river front. The $300/month discount pays for the gas I burn driving and then some.


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## rusty2009 (Mar 5, 2010)

Thanks everyone for your support. I received a copy of the signed contract today. All is right. Getting the inspection done on Monday. Closing on May 22nd


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## Bazooka (Dec 10, 2011)

rusty2009 said:


> Thanks everyone for your support. I received a copy of the signed contract today. All is right. Getting the inspection done on Monday. Closing on May 22nd


Proud for you rusty...the big man was looking out for you.


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## Yams (Jul 16, 2008)

Spirit said:


> It probably is but better look to see how much those bigger houses have gone up. Might not be such a good time to buy, just a good time to sell.


That would be my worry. I would love to stay in my neighborhood, just find something slightly bigger. I looked at a house they were building on the street next to ours, but it was about double the price that we paid....ouch!


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## Fishwish (Aug 3, 2004)

â€œFinally, SB 1, also introduced by Nelson, was passed on a 26-5 vote. It is enabling legislation for SJR 1, passed on a 31-0 vote, which would ask for voter approval of a constitutional amendment that would increase Texas's mandatory property tax homestead exemption from a flat $15,000 to 25 percent of the median home price in Texas each year. Nelson said in a bill analysis of SB 1 that if the change is in place in 2016, the bill would create an estimated exemption of $33,625.â€


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## Pocketfisherman (May 30, 2005)

tngbmt said:


> it's a new game agents are playing.. lists the house just to attract buyers then raise the price thru bidding wars. 1st question i'll ask is are you selling at asking price .. if not, i'm walking away not even viewing the property


It's not a new game, this has been going on for 30 years in other super hot markets. San Josa/Santa Clara CA in the mid 80's is when it became common.


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## rusty2009 (Mar 5, 2010)

*pictures of the house*

Thanks for everyone support. We finally moved in last week. Here are a few picture of the house. I hope every person is able to find the dream house one day I have mine.


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## POC Fishin' Gal (Nov 20, 2009)

Congrats! You have a beautiful home!


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## Jaysand247 (Aug 19, 2012)

Very nice !!


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## Tealman (Sep 20, 2005)

Looks almost as nice as our old dawnridge home, lol congrats to u and the lady. You have come a long way grasshopper!


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## rusty2009 (Mar 5, 2010)

Thanks Buzz.


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## 8seconds (Sep 20, 2005)

Sweet pad Bro! Glad things worked out for you!


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## Rubberback (Sep 9, 2008)

Nice! Hope you got an extra bedroom for me & my birds. Can I bring my roo ?


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## Tucsonred (Jun 9, 2007)

I live in Pearland in the Springfield subdivision. The houses in my neighborhood do not stay on the market very long. My next door neighbor just sold their house. Had a good bunch come out and look but there wasn't a bidding war on it. (nice house too) I think there are 3 others for sale now.


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## Tucsonred (Jun 9, 2007)

POC Fishin' Gal said:


> Congrats! You have a beautiful home!


yep...sure is!! I love the kitchen!


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## Maritime (Aug 28, 2007)

At first glance, I thought the fireplace tiles were camouflage!! I like the dual height on the bathroom vanity, I'm taller that the regular height vanaties and it can be a pain to bend down all the time. Congrats, buying can be an emotional roller coaster.


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## BATWING (May 9, 2008)

Next 2coool gathering at Rustys place.


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## Johnboat (Jun 7, 2004)

*Very nice*

Glad it worked out for you. Beautiful home.


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## Haute Pursuit (Jun 26, 2006)

Nice house Rusty. I'm supposed to close on another one at the end of the month. This market is nuts! Hope it holds up for a few more months when I'm ready to sell the one I'm living in.


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## BullyARed (Jun 19, 2010)

rusty2009 said:


> Thanks for everyone support. We finally moved in last week. Here are a few picture of the house. I hope every person is able to find the dream house one day I have mine.


Rusty, when are you going to throw a new house party? Very nice!


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