Duke and I are going out to dinner to celebrate tonight. Our house in Union City is sold! The sale of our house is a classic example of how prices in the San Francisco Bay Area have gone down. It was on the market for four months. This was our first offer and the house sold for $165,000 less than what a house like ours in our development sold for back in November of 2005..... Oh well, that is history and we have our money. We are happy.
There are a couple of other interesting parts of the experience.
- People always tell you how important it is to have fresh paint, new carpet and staging, all of which we did. It turns out that none of that mattered. The buyers were in escrow for a house like ours. They were offering less than the loan on that house and the bank was dragging out the closing process. Our buyers were in a hurry and decided not to buy the other house. They are from Los Angeles and bought our house without ever looking at it! We closed in less than 2 weeks. Can you believe it.
- You might think that once you move your personal possessions out of your house the cost of the homeowners insurance might go down. You would be wrong. As soon as we changed our mailing address our insurance company canceled our insurance. We had a terrible time finding someone who would sell us insurance on a house that no one was living in. We had been paying $1,800 for 12 months of homeowners insurance. The new insurance cost us $4,800 for six months!