As I mentioned in an earlier post.. we are moving. The housing market in Phoenix tanked about two years ago. We were the "lucky" ones that purchased our home at the peak of the market.
At the time we purchased our home, people were having bidding wars on homes. People camped out or waited in line for hours for the chance to purchase a home. It seems like forever ago. Well, we were the "lucky" ones that showed up at just the right time and were able to purchase a new build 1400 sq foot home for a ridiculously expensive price!
If only I had listened to my hubby whom said "the housing market can't keep going like this, it's going to tank."
I didn't listen, and I insisted on purchasing a home, rather than renting and riding out the market high. I may never live this down.
We have been "lucky" enough to pay an extreme mortgage payment on a house, now worth, over a hundred thousand less than our existing loan. Lesson learned. Big, expensive, lesson learned.
Our mortgage wasn't an issue when we were both working, while Kamryn was in school during the day. Before Owen was conceived. Before all of his special needs. Before I had to quit working to become a full time nurse to him. Before life changed.
I wouldn't have it any other way.
Mortgage companies say that they are "working with people" to stay in their homes. We have been working with them for almost two years now. Just a few weeks ago we got their "offer" to restructure our loan.
Needless to say, the offer was not even close to affordable. So, we have no choice but to move on. We are listing the house for market value and someone will get a smokin' deal on a home.
Everything is working out in perfect timing. We plan on moving closer to Kamryn's school (about 5 miles away), which is also closer to her friends and cousins. We will rent a home, for 1/2 of our current mortgage payment, and stay put for a couple years until the housing market picks back up. We don't know when Owen will need his heart transplant or when I will need to relocate to Palo Alto for a long period of time with him.
Things always happen for a reason. We're ready to move on, say goodbye to our tiny, overpriced home, that we were "lucky" enough to purchase at the time!
Is it strange that I love moving?? Something inside me gets excited to throw away, donate, and organize everything as I pack. Today I cleaned the garage, cleaned off all the porches and wrote my mile long "to do" list. I get excited every time I cross something off the list. It's okay. Call me crazy!!!
14 comments:
I'm sorry your losing your home. The same thing is happening to two co-workers of mine (ARM & interest only loan $100K upside-down etc..). But I'm glad your in good humor/spirits about it. Good luck with packing and your move. and no, it's definitely not too much to ask prospective buyers to wear face masks. :)
-Melodie
(Scarlett's mom)
wow. its great to see the good in things, isnt it? I would also love to move, if not just for the excuse to get rid of so much junk!
gosh, you are so not alone! i've seen the same thing happen to a lot of people. we felt the same "lucky" feeling a year ago (thank heaven the market had already tanked) but even so, our house is worth less now.
renting is not so bad...i'll tell you one thing, it's way less of a headache...even if you can't paint the wall the colors you love.
I love moving too and I do the to-do lists all the time. There's something so great about being able to cross things off as they're done. It's so gratifying.
Hey, I won The Joyful Organizer's Guide to a Joyful Move. Do you want a copy?
Yes, I feel your pain. We are onhe of the 'lucky' ones too, but we plan on living here for a very long time, so hopefully, eventually, we owe less on our home than it's worth. But, it's hard to see bigger, nicer homes selling for less than what we paid. Oh well. Not much we can do about it! :)
Sorry about your house, but, as usual, you seem to have a good attitude about it. I don't know how you do it. You seem to keep a good attitude about everything. I'm sure that your good attitude makes life's challenges more bearable for you and your family. You are amazing and I admire you for your attitude!
Sorry to hear about your home. We have been very fortunate to have not had so many problems when I lost my job a year and a half ago. I know that it sucks, but on to better & brighter things, right? Who knows what kind of blessing this will be in the months/years to come. Good luck with the move.
Andrea...
that is TOTALLY where we're at...except, the Vegas market tanked worse than yours...and we're about 200k upside down in our house. AND...us too...with hubby NOT working in mortgages anymore...we're putting ours up too.
I'm looking forward to the "less stress" world.
I'll have to email you to get more info!
Kathy
Andrea,
I have to commend you for your amazing attitude. I am sure this situation has been very heavy to deal with. I hope that you will receive many unexpected blessings, as you deserve them all.
Though it might have been a very expensive lesson learned, the great thing is you are a wonderful mom and wife. . .what more could a family ask for? Seriously, YOU ROCK!
(HUGS)
Sigh... you rock at being positive... today is not so much for me..LOL I do truly believe that everything happens for a reason (although I do wish I could find a couple hundred thousand to spot you!)... Can't wait to see the new digs!
Carson my not be so excited to be living even closer to his in-laws, but Giselle and Dad and I will be thrilled to have you even closer!
To all you readers out there...Andrea IS and always has been the positive force...the SUNSHINE in our famiy no matter the trial.
Love MOM
Andrea,
What a wonderful grandmother you have and how sweet are her words. You really are an inspiration at being so positive and an example to me. I agree with you that things really do happen for a reason, but that doesn't make them always easy. We too have been "working" with our mortgage company for a year now to restructure our loan due to all of Eden's medical bills from going over our insurance max. Well, we have gotten nowhere yet, so I guess now I know that it takes 2 years to get a ridiculous offer back.
Best of luck in sorting, packing and organizing but I am sure if anyone can tackle that project it's you. IT sure is nice though to de-clutter and re-organize I have to agree.
Love, Keisa
Moving is exciting, and a lot of work! I know you do not know me personally but if you need anything, just ask! We are renting because we are military so even if ya can't paint the walls, at least you are not responsible for anything if it goes wrong! Gotta look at the positive. :)
Hey you're not crazy....organizing is fun :) Sorry you're having to move but it sounds like in the end it'll work out better.
Post a Comment