Tales of Houseselling - 2009 Version

This house selling is really a headache....here's a recap:
Sept 08 - Put house on Market and get first buyers by end of the month

Oct 08 - US Economy goes into turmoil and house deal falls apart when buyer loses Wall St. Job within a week of the closng date and just as we donate the last of our furniture

Nov 08 - House goes back on the market

Dec/Jan - Housing market totally dead for the holidays

Feb 09 - After several low offers, new buyers for $12,000 less than first sale agreement and we agree

Mar 09 -

• Buyer's appraisal for the mortgage comes in $5000 less than sale price due to using comparable from last summer that was a "short sale" - we agree to the lower sale price to speed the process. This apparently a backlash from when appraisals were over inflated during the "bubble."
  
• Buyer's Mortgage Insurance Co. requests 2nd "verification" appraisal which comes in another $10,000 lower
• After reviewing recent sale prices in Danbury, we indicate we won't further lower our sale price. Buyers indicate they are still interested in the house.

Current Status - House sale contract expired and buyers need to decide new strategy for financing for sale to continue while we are trying not to think about the sale falling through and the need to put the house back on the market. UGGH!