08 Apr

The auction is this Saturday.

I am not doing very well at distracting myself into not thinking about it.

Over the past 4-6 weeks, clearance rates around Melbourne have dropped to below 65%. Prices for comparable properties have fallen by $30,000 or more. We will be lucky to reach the amount that the second offer was for (the one that the agent knocked back without even talking to us because it was too low).

Do I sound stressed? I am stressed. The effect of all this stress is that I am a bit miserable without any real reason to be unhappy. I am not good at being powerless – and there’s nothing I can do to improve the selling price at this point. I’m not even cheering myself up with thinking about OMG ESSEN! because even that may fall through if the house does not sell at all. And while I recognise that this is unlikely, Stress and Misery have kicked in with their nasty little messages. And I don’t like it, because I like to think that I am an upbeat and positive person.

Realistically, it is unlikely that the property will not sell at all.

It is possible that it will not sell at auction – even that it will not attract even a single bid.

The agents *think* they have 2 or possibly 3 bidders. First home buyers and investors, mostly. All they can talk about is what is wrong with the property (I am told that this is normal real estate bastardry).

We have to set a reserve price by Saturday.


I just feel a little bit sick.


Posted by on April 8, 2008 in rant, realestate


6 responses to “House

  1. RacingHippo

    April 8, 2008 at 7:26 pm

    (Real)Estate agents are greedy, conniving, idle bastards throughout the known universe*.

    For instance, I heard of an agent on Grindlebimp-VI that was so engrossed in getting his armpit nodules polished that he didn’t notice a holophone message from Hotblack Desiato himself, who was willing to offer the vendor a completely unrealistic sum for their bijou redoubt in order to have it converted into a veryloudspeaker for an upcoming Disaster Area gig. Having realised he’d missed the opportunity, he promptly got on the blower to Hotblack and sold him his grandmother’s underwear for the same purpose.

    So you’ve got it easy, really 🙂

    Have a hug: {{Melissa}}

    *With apologies to any reading, who, by dint of reading such an esteemed blog, are clearly the exception(s) to the rule.

  2. Chris

    April 9, 2008 at 7:02 am

    Good Luck Melissa. I had trouble selling a house a couple of years ago, and that was before the real estate bubble burst in the U.S. like it has this year.

    I know the stress you’re feeling, and the only comfort I can give you is that eventually it will all be over. And that becomes a very nice feeling.

  3. jon

    April 9, 2008 at 9:00 am

    Everything will be fine.

    Aaaaaand… relax.

  4. melissainau

    April 9, 2008 at 12:16 pm

    Thanks, guys.

    We have someone getting a building inspection today, which shows that they are pretty serious about the place. That makes me a little more optimistic.

  5. Friendless

    April 11, 2008 at 10:35 am

    When I was selling my place we had one guy do two very long inspections (while we were waiting down the street to come home) and then refused to make a decision until the very last second possible, and then offered us $20000 less than the previous offer we’d had. My ex-wife and I were unanimous in our rudeness. Our real estate agent earned his money with the careful paraphrasing he must have had to do.

  6. melissainau

    April 11, 2008 at 10:40 am


    Our building inspection people pulled out – their builder couldn’t make it, or something.


    There are 4 “maybe” bidders.

    What is pissing me off is that we knocked back offers – in fact, the agent knocked them back on our behalf – earlier in the campaign, and now they are saying we might not even get that much for the house. Ugh.


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