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Topic: 2 years trying to sell, separated for 14 months |
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Posted By on 07-13-2009 02:48 PM
Here we go, another military family enduring the strain of a bad housing market.
We bought our house 5 years ago with the anticipation that we would fix it up and sell in 3-4 years. All we wanted was to break even.
We have been trying to sell for two years. Military member received pending orders three months after we put the house on the market at a "break even" price. The house didn't sell, but he was able to extend at his duty station in hopes of selling during the extension. We dropped the price. Still no go.
He received final orders and had to relocate. There is no bachelor enlisted housing available at his new duty station, so he is renting with a friend out in town. The kids and I have remained here because paying rent for him alone down there while we attempt to sell was a cheaper option than all of us moving down and paying rent while trying to sell. We were tight before, but the drop in housing allowance (with his new duty station) is really making it painful for us.
The bad economy has left us with two abandoned homes and an abandoned foundation in our immediate neighborhood. This is not an appealing prospect for incoming buyers. Lucky us.
Ours is a bad city for landlords, so we have dragged our feet on renting out the house. Very nervous about having to pay for renter's damages on top of maintaining this home. Looks like we're taking a bath on this no matter how we play it out.
We've burned through the last of our savings. Moving to be with military member this summer, regardless of sale status, and realistically facing the possibility of having to live in our car to make ends meet because we cannot possibly afford a place for us all on top of our mortgage.
While I am certainly capable of running the entire household alone (pretty much a prerequisite for career military spouses), it has been a very unpleasant situation for us and our children.
Mainly venting here, because I know we "got ourselves into this situation" by purchasing a home. Never mind that there was no base housing available when we moved here (reserve AF base, active duty family)...and couldn't find an apt. that would fit the six of us. It's just frustrating to be in a financial doozy of a situation. |
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RE: 2 years trying to sell, separated for 14 months |
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Sei
Posts:633
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| 07-13-2009 07:48 PM |
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Here we go, another military family enduring the strain of a bad housing market.
We bought our house 5 years ago with the anticipation that we would fix it up and sell in 3-4 years. All we wanted was to break even.
We have been trying to sell for two years. Military member received pending orders three months after we put the house on the market at a "break even" price. The house didn't sell, but he was able to extend at his duty station in hopes of selling during the extension. We dropped the price. Still no go.
He received final orders and had to relocate. There is no bachelor enlisted housing available at his new duty station, so he is renting with a friend out in town. The kids and I have remained here because paying rent for him alone down there while we attempt to sell was a cheaper option than all of us moving down and paying rent while trying to sell. We were tight before, but the drop in housing allowance (with his new duty station) is really making it painful for us.
The bad economy has left us with two abandoned homes and an abandoned foundation in our immediate neighborhood. This is not an appealing prospect for incoming buyers. Lucky us.
Ours is a bad city for landlords, so we have dragged our feet on renting out the house. Very nervous about having to pay for renter's damages on top of maintaining this home. Looks like we're taking a bath on this no matter how we play it out.
We've burned through the last of our savings. Moving to be with military member this summer, regardless of sale status, and realistically facing the possibility of having to live in our car to make ends meet because we cannot possibly afford a place for us all on top of our mortgage.
While I am certainly capable of running the entire household alone (pretty much a prerequisite for career military spouses), it has been a very unpleasant situation for us and our children.
Mainly venting here, because I know we "got ourselves into this situation" by purchasing a home. Never mind that there was no base housing available when we moved here (reserve AF base, active duty family)...and couldn't find an apt. that would fit the six of us. It's just frustrating to be in a financial doozy of a situation. |
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