… she and her husband bought a four-bedroom home on a manmade lake in 1999 for $374,000. They spent $100,000 installing a pool, a hot tub, a basement bar and home theater.
When her husband lost his job as a sales executive at a consumer products company in 2007, the couple moved into a house that Ms. West had inherited from her mother in St. Augustine, Fla. They put the Dacula house on the market for $599,900.
They rejected several offers that they considered lowballs. “Everybody kept saying ‘Oh, it’s a great house, it will sell,’ ” Ms. West recalled. A contract for $447,000 fell through when the buyer could not secure a loan. Last month, the couple signed a contract for $360,000, effectively erasing previous gains and their large investment in improvements.
From The New York Times
In Atlanta, Housing Woes Reflect Nation’s Pain
just keep thinking, ‘Oh, it’s a great house, it will sell’
see thefoothillsToday.com
to find your Foothills home
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