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selling a house in this economy
Sprucemoose:
Sell your house first or try to sell it. Leave it on the market until the house across the street sells or if you sell your house and the other one has not sold, buy it. Cost next to nothing to list a house especially FOR SALE BY OWNER. DON'T do two mortgages. See if your neighbors will do a sale on their house contingent on the sale of your house. You never know how long it will take to sell a house. All your upgrades may be the cats meow to you, but a buyer may perceive things differently.
Good luck.
myntik1:
We talked it over last night and we're not going to buy the other house. I appreciate all of the comments. If we didn't have to buy a new(er) car I would be all over this deal. We have 1 car that's dangeroulsy close to 10 years old with a bajillion miles on it and another that will be a decade old in 2 years. As much as I hate to put a car before a better house I would rather not have to juggle 2 car payments at the same time. At least until daycare doesn't have me by the short & curlies.
Ark_ader I disagree about the economy though. I think its going to get a lot worse before it gets better. We've weathered the mortgage crisis mess. But what happens this winter when people decide to heat their house/apartmenet instead of paying their credit cards.
ChadTower:
--- Quote from: myntik1 on August 26, 2008, 11:48:04 am ---But what happens this winter when people decide to heat their house/apartmenet instead of paying their credit cards.
--- End quote ---
That is really only going to hit certain areas of the country... New England is going to get hit harder than most because there are few alternatives to heating oil up here. I just replaced my furnace to try and mitigate that and I'm about to replace my basement windows and exterior basement door.
WunderCade:
--- Quote from: ark_ader on August 26, 2008, 07:19:54 am --- The economy is on the up anyway.
--- End quote ---
It is? Where are you living? Here in California, we have entire new subdivisions that are ghost towns. Never-sold McMansions with dead orange shrubbery, and yellow lawns. My home, went from being worth 320,000 in 2005 to 130,000 today. You could buy a brandnew 2880 sq ft home with the works here for around 210,000. Homes here have lost damn near 50% of value from 2 years ago. If you're in the market to buy a home around here, most realtors will show you foreclosures all day long.
Maybe it's different in your neck of the woods. :dunno
ChadTower:
I think it's different pretty much everywhere. Few places were anywhere near as inflated as CA.
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