In Contract

10 months after I put it on the market, Beigeburbia is FINALLY in contract to be sold.

The terms are making me a bit squeamish, but it'll cost less to sell it for this price than it would be to keep it on the market for another two months. Yeah, I'm going to have to bring money to closing...

From what I understand, real estate hasn't taken this much of a dive since the depression. When I bought the house, I was counting on it being at least worth what I paid for it. At the time, that was a pretty good bet since and overwhelming majority of the houses that were put on the market since 1940 ended up being worth more than what they were purchased for.

Alas, that was not to be for me. The agreed upon selling price is 12,000 less than what I paid for it six years ago. From what I'm hearing from other people, I'm making out like a bandit.

A retarded bandit.

Anywho, I'm just glad there is a light at the end of the tunnel.


Speaking of retarded bandits...

At least I've learned one valuable lesson from this whole ordeal: Don't buy something because people tell you it's a good investment. Look at the market, have the prices jumped recently? If that answer is yes, it's probably not a good time to "invest" in it.

Buy low and sell high... it's a common-sense piece of advice for a reason.

I think the idiots who "leveraged" themselves heavily to invest vast sums of money in real estate mortgages when the market price had jumped 20% have moved into buying $50.00 a barrel oil for $125.00.

I hope they lose their shirts.