Remember last week, I told you that Hubby and I were driving to Little Rock to look for a place to rent? (Someone offered to pay our Little Rock rent until we found a renter for our AZ house.) While there, got an offer on our AZ house!
This is good news since it's been on the market for almost a year. However, the offer was soooo low I wanted to laugh but I didn't. I've cried.
After much prayer, deliberation, and seeking a lot of godly counsel, we decided to accept the LOW offer instead of trying to keep the place and rent it out. (And wait many years until the market bounced back.)
The housing market tanked and we were in the way. After 9 years of house payments, there's nothing. No equity. It really stinks.
I suppose I should be happy that we didn't have to pay the bank to get out of the loan. Certainly, I don't feel happy right now.
As it stands, the close of escrow is planned for February 26...if nothing crazy happens between now and then. Anyone who's bought/sold real estate knows that crazy things can happen - and did indeed happen to us the last time. We lived in a guest house for 6 weeks (after moving the stuff out of our house) waiting for the buyer's loan to go through. It was a stressful nightmare I hope not to re-live.
It appears like we will rent a 2 bedroom apartment in Little Rock so that we can begin saving towards a down payment. I've been looking for something around $600/month - anyone have ideas or leads?