Comments on: A Huge Example of Buyer’s Remorse (and How to Avoid It)

By: 24 (Financial) Things About Me...And One Confession Makes 25

24 (Financial) Things About Me...And One Confession Makes 25 — Thu, 22 Oct 2009 00:45:05 +0000

[...] of the market and my mortgage was “upside down” for seven long years. It resulted in a brutal case of buyer’s remorse because although I wanted to move to a new location, I couldn’t. I faithfully paid my [...]

By: Home Finance Tip Blog » Emily’s list: Boss’s Day edition

Home Finance Tip Blog » Emily’s list: Boss’s Day edition — Sat, 17 Oct 2009 10:19:48 +0000

[...] 9. Have you ofttimes institute yourself with buyer’s regret and assign bill debt to exhibit for it? A temporary place on Ask Mr. Credit Card lists fivesome structure you crapper prevent purchase things you don’t rattling poverty or need. [...]

By: Black Coffee: My Favorite Blogs, Money News & Opinions #17

Black Coffee: My Favorite Blogs, Money News & Opinions #17 — Sat, 17 Oct 2009 00:24:14 +0000

[...] for asking me to guest post on his blog at Ask Mr. Credit Card. I had a lot of fun writing about my worst case of buyer’s remorse ever – it also includes five tips on how to avoid it. Mr. CC will be returning the favor with a [...]

By: Len Penzo

Len Penzo — Wed, 14 Oct 2009 20:37:53 +0000

Oy! Tell me about it, Mr CC! During the down cycles you are constantly being forced to consider whether you want to ride out the storm or sell at a loss and cut your losses. It is frustrating, to be sure.

By: Mr Credit Card

Mr Credit Card — Wed, 14 Oct 2009 03:48:45 +0000

Real estate booms always kills the young folks who are told “it always goes up”. Problem is because the cycle is so long, it seems believable! What nobody says is that the down cycle is long as well.

By: Len Penzo

Len Penzo — Wed, 14 Oct 2009 03:36:02 +0000

@Bret: You are very fortunate, my friend! I was only 24 at the time, and I wasn’t wise enough to understand that the price increases were just not sustainable – I believed that I would NEVER be able to buy a home if I didn’t jump in when I did. What a dolt!

@Samurai: You and your girlfriend were smarter than me. You did your RESEARCH! Good for you!

Not me. I was oblivious, and my ignorance cost me dearly.

By: Financial Samurai

Financial Samurai — Tue, 13 Oct 2009 17:11:23 +0000

Oh my gosh, what a story!! I had a very similar incident, but the girlfriend and I at the time staked out in front of our house we ended up purchasing on 5 different nights for 30 minutes at a time to see if we could bear the traffic noise from the street around the corner.

We decided we could, and we still upgraded the windows to double and triple panes. The house was about $250,000 cheaper than comps due to the road noise, and we new we could improve the insolution and sound since the windows were 80 years old and single paned.

Great story! And thank goodness, housing prices around the nation have rebounded SHARPLY since this summer.

By: Bret

Bret — Tue, 13 Oct 2009 16:54:33 +0000

I wanted a house so bad back in 1990 that I just couldn’t stand it. Unfortunately, I couldn’t afford a house until 1996 when they hit the bottom. So, I got quite a bit luckier than you on buying my first house.

Being trapped in a house that is under-water has to be a nightmare. I think that’s why so many people are just walking away right now. I know a couple who foreclosed around summer and they are already shopping for a new house. These are crazy times we live in.

By: Scary Stories: Bloggers Share Their Tales of Buyer's Remorse

Scary Stories: Bloggers Share Their Tales of Buyer's Remorse — Tue, 13 Oct 2009 03:36:12 +0000

[...] I saw a commercial that said four out of five dentists surveyed have experienced a severe bout of buyer’s remorse at least once or twice in their lifetime. And although I’m not a dentist, I did write a guest post over at Ask Mr. Credit Card chronicling one of my worst experiences with buyer’s remorse. [...]