Will My House Ever Sell???

I hate this economy. I feel lucky that I'm able to squeak by with a home mortgage, credit card bills (thanks Home Depot) and steep California rent partially subsidized by my employer. Today marks 54 weeks that my house has been on the active real estate market.

What have I learned?

I was way too aggressive with the initial $244,900 asking price. I wish somebody would have kicked some sense in to me before that listing that feels like 54 years ago, not weeks. I'd even take a Jet Li chop to the throat over reliving that stupid listing price. The original listing was through relatives at Cushman Realty who only had my best interests in mind. Nobody wanted to offend the other so the list price stuck. After four months with Cushman and two price reductions, we decided to part ways. My aunt started a new job, and we figured it made sense to go with a more proven Realty company in Edina Realty that could focus on my property full-time.

Now another 7 months have passed and the house still sits on the market.

Back when this mess was unfolding shortly after accepting my new job in Ohio in January 2008, I ramped up house improvements in hopes it would move my house off the market quickly. We opened up the kitchen by removing a wall, replaced the vinyl flooring with ceramic tile, updated the sink, faucet and countertops, and bought a new microwave and dishwasher. Tracy even contact papered in the cabinets and drawers and we added new cabinet fixtures. The fun didn't end there.

My dad and I updated the entire basement over a course of several months. First, we freshened the ceiling paint, sheetrocked half the main family room wall, removed wallpaper, painted wood paneling and had new carpet installed in the family room, bonus room and up the stairs ... and when the house still didn't sell we replaced the second kitchen carpeting and updated the wallpaper. A Jet Li drop kick to the cajones was starting to sound more fun than selling my house at this point.

All the main floor rooms got new light fixtures and we managed to paint the entire exterior of the house and garage. Still no dice ... nothing close to a Yahtzee ... seven months in at this point. Yeah, that point where the entire economy fell flat on its face like a drunk overweight coed walking home from the bar in six inches of fresh snow.

The worst part is I was dumb enough to put it all on a Home Depot credit card with no interest for 6 and 12 months on the major purchases. Back then, I figured all those wonderful improvements would move my property to the the top of the list and I'd pay off the card in quick order. Nothing's happening quickly these days. If this economy continues to be worthless I'll be eating 4:30 p.m. dinners and changing my Depends before my house sells. Read: I'll be really, really old.

$44,900 and one President later and the house still sits and waits on the market at $200k. A lot has happened in these 54 weeks. Businesses have went belly up, foreclosures have become commonplace and I was transferred to California. Thankfully my company wrote a contract up to assist in living expense until late 2010. It was a blessing in disguise. If I was still in Ohio, I'd be working 8 jobs to make ends meet. More important is I still have what I love most: Tracy and a great job.

Well, what have I learned? I've learned not to trust that stupid show "Designed to Sell" on HGTV. Lisa Laporta might just deserve a Jet Li chop to the throat herself. Maybe I should have just smeared crap all over the walls instead of fresh paint and let it go in to foreclosure like everybody else. What do you think of that "Designed to Sell ... In Foreclosure" Lisa?

What I've really learned is this is just another minor hurdle in life. I'm not the millionaire like I dreamed I would be when I was a 10-year-old pinging with dreams of making it big before 30. And, I've also learned being strained financially won't rip the enjoyment out of my life. Tracy has been amazing through all of this and, believe it or not, takes my mind away from all that is dollars and cents. Even if my house sits on the market 10 more years, she won't let it bring me down. Am I happier now than 54 weeks ago ... without a doubt.