- I was laid off in February.
- I've been looking for work in Austin, Houston, Dallas, and McAllen. The list is sorted by preference.
- I have had...drum roll please...one phone interview in 3 months.
- Our house has been on the market since November 2008, during a period when home prices continue to slide...and slide...and slide.
- The good news is we had 2 offers over the last two weeks. One was junk, but we accepted the other. Then more bad news arrived: the buyers backed out during the option period. We netted $100 in option fees.
- My grandfather died last week. Bless his heart, but he was very ill.
To put it simply, we are under a little stress.
Vic and I had a serious discussion last night. No big deal, because with everything that is happening, it seems like every discussion is a serious one. The discussion centered around a few key points:
- Why are we selling the house right now? The market is terrible, and although it could decline further, there are some subtle indications that it is improving.
- If we sell the house, where will we go? To live with parents near Houston until I find work? What if that means we have to relo to another city?
- What are we doing to the kids? They need stability, and we're going to shuffle around, living like nomads?
- The market down here is slim for manufacturing managers and professionals, but why not find an alternative career and just get some cash flow going?
After a long discussion, we're leaning towards making some changes in our plans. Perhaps we'll liquidate some retirement funds to enable us to continue without a job and stay in the house. Maybe we'll sell, and move into a local apartment so that at least the kiddos stay in the same school, and we minimize the number of moves. We're not sure yet, but we seem to agree that our current course doesn't get us where we want to be.
I'll post more as we decide more, but in the meantime, why not finish with some GOOD NEWS?
- The air conditioner broke on Monday during one of the hottest days of the year thus far. That night and most of the day Tuesday, the weather was strangely cool and overcast. The downstairs A/C was able to keep up and cool the whole house. Icing on the cake? The A/C was repaired late yesterday. It took 30 minutes and cost $85.
- We had a second showing last night. Another buyer is working on a loan, which is no small accomplishment these days. If we decide to sell, it looks like we might have some more buyers.
- Our family could not be more supportive. They've offered to help us move, store our stuff, and give us a room or two to live in. We're not destitute, and it would take a lot for us to not have any other options, but it's nice to know you have someone that is watching out for you. That's family for you.
- There's a good chance that Vic will be extended a job offer within a week or two. That will help staunch the blood loss, but won't suture the wound. Regardless, it's good.
I'll post more about this drama as we make decisions and the situation changes. Thanks for all of your good thoughts, well wishes, and prayers.
9 comments:
I hear you man and sincerely hope everything starts to turn around for you.
Some of you have heard my story but I went through a lot of the same stuff at the end of 2008. Lost my job in October. My Dad passed away in November. Got a job in Dallas (we lived in Jacksonville, FL) to pay the mortgage. Wife and kids are still in Florida because there's no way to sell the house right now and don't want to pull the kids of school.
When you announced before you had a buyer I made a comment about it not being over until closing is done because I had a bad experience once. While I was still in the Navy in 2006 (doing evacuations out of Beirut) my wife was selling out town home in Virginia. We had a quick offer and thought all was done. The entire deal fell apart the day of closing because the buyer hadn't secured financing and there was some hanky-panky going on between the buyer and her agent. Very frustrating!
It's unfortunate but stories like ours are commonplace these days. Like you, we have a very good family support Network. It's all in Florida which is good because that's where my family is still at. Without that we might be hurting.
I'm thinking about you Jeff and really hope something works out soon.
My take is that if you can sell the house, sell it. As someone who currently owns two homes and would prefer to own one or less, I'd say unload it if you can. We're upside down on our rental in terms of equity and cash flow. I have a feeling that thing is going to continue bleeding me for a while.
Good luck with the job search. Something is going to work out eventually.
Those are some tough decisions but at least you still have some options. I'm hoping things fall into place for you really soon.
I have my house in Texas and an apartment in Chicago now, it's going to be really really tough, and really scary !
We can't sell our house in Texas because of the housing market, plus it's an investment anyway. And I have to have a place to live in Chicago, because having a job is hard to come by right now :(
Even the job I have as it is is very unstable and that's part of the biggest "Scaryness" of having the apt.
As someone who knows what its like to be struggling to find work, it sounds to me like you are maintaining a very good positive attitude about it all, which is great (if not critical).
I wouldn't stress about making a move to find work. I did it, moving from Newfoundland to Toronto 3 1/2 years ago. Yes, it's hard to do with so many uncertainties ahead, but in the end I've been completely reinvigorated.
If your kids are young, now's the time to relocate. My daughter was 9 at the time and adjusted amazingly well. But I'm told the older they are, the tougher the adjustment.
If you and your family are truly happy where you live now though despite the job situation, then give that a lot of consideration. Life is about the pursuit of happiness. Everything else is just material.
Stay riding and stay positive.
Not to sounde cliche, but you know everything happens for a reason. Sometimes it's not abundantly clear why things take the path they do, but later it becomes so clear, that you slap yourself silly in the forehead and wonder, "why didn't we see that?!?"
In any case, the good thing is the kids will be out of school for the Summer, right? So if you had to move, less impact to them. Include them in your discussions ask them how they feel about it -- even if they aren't quite old enough to understand the nuiances of relocation and what it means to the family, they'll feel better (and more stable) knowing that you care what they think.
It's refreshing to hear how you have your discussions -- so many couples fall apart during hard times simply because they fail to communicate and stay on the same page. Kudos to you and your wife.
And yeah, if I didn't have the stinkin' job I'm grateful for, I'd ride. :) I'd be following from afar, but I'd ride. :)
Good luck to you.
Jeff,
the fact that you have discussions is so critical. Although your posts have a general positive tone, I know that the dark, low moments happen and that is when a supportive spouse is really invaluable.
We don't have children, which also makes our burden a bit easier to carry, and we know that relocation is not something either one of us is willing to entertain. The above really makes me unqualified to give any advice in regards to children and/or relocation. As far as work - it is tough!
I am working now with 5 search firms (3 of them I have professional relations with). Since my layoff in March I had 4 interviews (1 is still alive), but the amount of indecision from that company makes me already wonder if I really want it?!
I have a bonus room over the garage, which I started to convert to a rental unit last fall and was able to rent for the first time some 6 weeks ago. That income will pay for about 2/3 of the mortgage. Now I am hounding the COBRA administrator of my insurance policy to activate the congressional approved 'stimulus' help, which would bring my monthly COBRA payment from $1100 to $350.
Jeff, we are thinking about you and your family. Stick together, stay strong - there is no magic pill which will make everything better overnight, but as long as there is compassion and understanding, you will be fine.
@ALL - thanks so much for your kind and encouraging words. Even though I have my share of challenges, I am a long way from the bottom. Unlike a lot of folks, I'm not upside down on the house, we aren't anywhere near foreclosure, and we both have marketable skills (and strong backs!). I have faith that with hard work, honesty, and a good attitude, my efforts will result in positive change. Life is short, so we're trying to cut through the fog and let happiness be our guide. Again - thanks!
its rough right now man! i feel you! lucky we get to ride our bikes...
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