Home buying advice?

[House Cat]

My husband and I have been trying to buy a home since July. This has been such a stressful experience for us and our family. We are at our wit's end. We are now on our 8th offer, and we'll probably hear from the bank on Monday.

Although we are in a market that is flooded with foreclosures and short sales, many of them are not available to us because we are using a VA Loan. Here in California, this is the only loan right now that is requiring a clear pest report. Most sellers won't even look our way unless the home is in excellent condition or unless it was SO riddled with rot and termites, that they had no choice but to clear the pest report. The other part of the problem is that the area that we have to stay in, due to my children's schools, is filled with older 50's style ranch homes. So, to find a 50's style ranch home in excellent condition in our price range has been rather difficult.

BUT so far, we have found a few of them.

Each offer has fallen through for one reason or another. I have written down each home and the reason the houses have fallen through. With four of the homes, my agent has made severe mistakes or has caused the home to fall through. Everyone has told us we should fire her. Actually, they told us we should have fired her after the first deal because she misread a counter offer so badly that she almost got us into severe trouble. Luckily I caught the mistake in time. We stayed with her...gave her a chance.

A friend of mine, who was once a real estate agent, says that six months is a ridiculous amount of time to be house shopping in this market. She says a good agent would have had us in a home months ago. She thinks we should fire our agent. I feel bad because we've been working with this agent for six months and feel we owe her a sale.

What would you do? Would you fire her and work with someone else? Would you feel obligated? I feel so torn. She's a very nice woman. I'm just not certain if it's us or her or where we are trying to buy.

 

[Miss Sparkly]

You don't owe her anything. It sounds like the reason you don't have a house right now is because of her and the only way to see results is to fix the problem - namely her. It's up to her to do her job correctly so that she can make a sale. Not for you to feel guilty and give a sale to an unqualified person.

 

[MichelleCarmen]

Is the school your kids go to full or is there room? The reason I ask is you could potentially get a variance if you found a house you like that's in the *same district* just outide that particular school's boundries.

Just a thought. Often if your kids have been established in the school, they're grandfathered in and even if the school is at capacity the variance will be approved.

Good luck.

 

[House Cat]

We're looking outside the school's boundaries, but in the same district. It is a HUGE district by the way. We are actually looking in two cities and a village. My son's high school is full, but I know he's able to stay because I open enrolled him in. My youngest son's elementary school isn't full.

 

[MichelleCarmen]

We're looking outside the school's boundaries, but in the same district. It is a HUGE district by the way. We are actually looking in two cities and a village. My son's high school is full, but I know he's able to stay because I open enrolled him in. My youngest son's elementary school isn't full.

That's good that you can keep them in. Surely schools vary, but in our district there is something about high schoolers not being able to play certain school sports on varsity or similar. I don't remember exactly what it was b/c my kids are too young for it to apply.

Ours is also a large district. Kids' elementary has 550+ kids. Not sure if that is a lot?

 

[Miss Sparkly]

550+ kids

 

[iLander]

Look without this realtor. Check out realtor.com, and other websites in your area. Contact the listing agents. Find one that you like, and work with them. This realtor doesn't seem too bright, and there's no reason to add to your aggravation.

I think a lot of buyers and sellers are starting to realize we are past the bottom in many areas. The days of the desperate seller are waning fast, and many are holding off listing their properties because they see bigger dollars about a year out. Bargains in my area (near one of the WORST foreclosure areas in the country) are disappearing, and building has started up again.

Consider your past offers, were some of them just too low? Did you check zillow.com for the home values? Zillow is usually about 10-15% under a good sales price, IMHO.

 

[MichelleCarmen]

550+ kids

Yeah, and a new elementary just down the street (1 mile away) was built two years back and that first year, they already had to put some in portables.

 

[iheartscience]

I would absolutely fire the agent. I can't believe you've kept him/her this long if they've made you miss out on FOUR houses. That's unacceptable. I would ask around and find a new agent a friend or family member of yours in the area was happy with. Good luck!

 

[D&T]

I'm so sorry HC that your agent is making the sale fall through. It is YOUR money and you are under no obligation to continue with her services.

If I were in your position, I would consider looking for another buyer's agent. One site that I like to recommend which covers more information than others I've found is ziprealty.com (you could use the information yourself and go with their agent that they recommend in your area or not) you get quite alot of information that is listed on the MLS with a few restriction that are only viewable by agents through the MLS, but it really gives you the most information possible. I've been a residential agent and I find it extremely user friendly for those that do not have full access to the MLS.

Many people think that housing prices have really hit rock bottom, I'm a bit skeptical as there is a new financial law that will go into affect in April that could possibly restrict lending even more so than it already has. Anyways, I really feel bad for you and really feel that you have every right to fire her and find a new agent that won't cost you a sale - not all agents are the same.

Good Luck HC with your search.

 

[House Cat]

Look without this realtor. Check out realtor.com, and other websites in your area. Contact the listing agents. Find one that you like, and work with them. This realtor doesn't seem too bright, and there's no reason to add to your aggravation.

I think a lot of buyers and sellers are starting to realize we are past the bottom in many areas. The days of the desperate seller are waning fast, and many are holding off listing their properties because they see bigger dollars about a year out. Bargains in my area (near one of the WORST foreclosure areas in the country) are disappearing, and building has started up again.

Consider your past offers, were some of them just too low? Did you check zillow.com for the home values? Zillow is usually about 10-15% under a good sales price, IMHO.

Actually, most of our offers have been asking or even above asking. We did low ball 2 homes. They are still on the market months later and the sellers are finally figuring it out.

My friend did review our offers and helped us to streamline them a bit. Whenever we were in a multiple counter offer situation we would always lose. Well, maybe that was due to the fact that my agent had written that it would take 90 days for us to close. (I didn't know that would chase a seller away until it was explained to me.) We're formally approved! So, here I am, telling my agent how to write our offers.

 

[Hera]

I'm so sorry HC that your agent is making the sale fall through. It is YOUR money and you are under no obligation to continue with her services.

If I were in your position, I would consider looking for another buyer's agent. One site that I like to recommend which covers more information than others I've found is ziprealty.com (you could use the information yourself and go with their agent that they recommend in your area or not) you get quite alot of information that is listed on the MLS with a few restriction that are only viewable by agents through the MLS, but it really gives you the most information possible. I've been a residential agent and I find it extremely user friendly for those that do not have full access to the MLS.

Many people think that housing prices have really hit rock bottom, I'm a bit skeptical as there is a new financial law that will go into affect in April that could possibly restrict lending even more so than it already has. Anyways, I really feel bad for you and really feel that you have every right to fire her and find a new agent that won't cost you a sale - not all agents are the same.

Good Luck HC with your search.

I LOVE Zip Realty. In fact, I still log on to look their site 2 years after we closed because the site is so user friendly!! I do not, however, suggest using one of their realtors. Zip is considered a discount site so they aren't really considered a full service agency.

I do think your closing frame probably scared off quite a few sellers but I think it's the agent's responsibility to let you know this.

 

[D&T]

I wouldn't worry about FULL service or not coming from a Buyer's side. A Buyer's Agent should be giving you all of their attention and 100% full competency services. A discounted service is more relevant when you are a seller, because of discounted commission.

 

[mary poppins]

If an agent is jeopardizing chances of buying a place due to lack of attention to detail or sheer incompetence, I would find a new agent. Six months and eight houses has been a lot of opportunities, particularly when the agent is making mistakes on half of them.

 

[Italiahaircolor]

Fire her. You owe her nothing. She's not done her job to your expectations.

 

[Hera]

I wouldn't worry about FULL service or not coming from a Buyer's side. A Buyer's Agent should be giving you all of their attention and 100% full competency services. A discounted service is more relevant when you are a seller, because of discounted commission.

My experience from Zip Realty was that the agents (I tried three of them) all wanted me to select the listings from the website and let them know which ones I was interested in. Then, they wanted me to go and preview the area first in person even though I was an hour away. This is why, they explained, that the buyer receives a rebate when they close. I was not happy with their lack of effort and this attitude from Zip Realty which is why I went with a brokerage that didn't have a rebate.

I fully agree that a buyer's agent should be giving you 100% which is why I went a different route.

 

[D&T]

I wouldn't worry about FULL service or not coming from a Buyer's side. A Buyer's Agent should be giving you all of their attention and 100% full competency services. A discounted service is more relevant when you are a seller, because of discounted commission.

My experience from Zip Realty was that the agents (I tried three of them) all wanted me to select the listings from the website and let them know which ones I was interested in. Then, they wanted me to go and preview the area first in person even though I was an hour away. This is why, they explained, that the buyer receives a rebate when they close. I was not happy with their lack of effort and this attitude from Zip Realty which is why I went with a brokerage that didn't have a rebate.

I fully agree that a buyer's agent should be giving you 100% which is why I went a different route.

oh, that makes sense, bummer that those houses were too far for you to preview the area first. Zip just has a different customer platform I guess. Although, some agents in other brokerage houses will give rebates (from their commission) independent of their brokerage.

 

[movie zombie]

1-6 months is not too long to be house hunting. depending on your requirements [school district for one] and budget it can take longer for sure. the market is depressed but it does not mean that one can buy a fab condition home for a pitance.

2-fire her a$$. time is $....your time, your $. if she's made more than one mistake, she's incompetent and you're rewarding her by staying with her.

i know its frustrating. take your time. i've found over the years that i was actually glad the offers i made fell through and i ended up in the house i did buy. and then it took 4 years to find the house we're in now.

i also believe that depending on where you live that the market will continue to be depressed and even fall lower in the next 12 months or so. use this time to sock away even more $ for a down payment and/or remodeling.

MoZo

 

[KimberlyH]

Fire her and hire a new agent. The house hunting process can be long and tiresome, but should never be hindered by a agents incompetence.