mariposa Posted November 12, 2008 Share Posted November 12, 2008 I'm hoping to get some advice/opinions here. We are planning to move sometime within the next year (it's complicated). Basically, several people have said that we should sell now rather than wait until spring or we may not be able to sell our house. I know that nobody here can predict the future, but I wonder what you would do? Sell now or wait, with the possibility that the housing market may get even worse? Just to add a few more details, we COULD move into our new house now (currently owned by family who are selling to us) but we'd be living with family until they can move to their new house. That would be crowded, but we get along well. We really have to sell next year, we can't wait longer, so that's not an option. I'd love to hear some opinions - thanks! Sarah Quote Link to comment Share on other sites More sharing options...
TraceyS/FL Posted November 12, 2008 Share Posted November 12, 2008 I'd list now and see what happens..... unless you are in an area that things are still hopping - or if it's an under $150,000 house that people can still get a loan for. I'd try to find out how things are going in your area and go from that data. Quote Link to comment Share on other sites More sharing options...
texascamps Posted November 12, 2008 Share Posted November 12, 2008 We are in the same boat, somewhat. We need to move because my husbands new job has created a long commute. We are lucky because our neighborhood has increased dramatically in price over the year. It appears that our city has hit bottom and values are increasing. However, every area is different. Some areas never experienced the great increase so they are not experiencing a great decline. We have made the effort to paint, some minor remodeling and new carpet so our home sells quickly. Even though our area has increased in value, my husband finally got on board about selling after a business seminar he went to two weeks ago. It was a talk by a banker on the economy for business clients of their commercial insurance company. The speaker spoke mostly about investments and the inevitable tax increases. He said the only thing to sell is your home, do it soon, he said and then look and wait for the bargain on the buy. We have already located some real bargains at our new location, the trick now is to get my house on ther market. You should speak to a real estate agent about trends in your area. But even if its not great. If you sell low you still buy. And we have found that neighborhoods that we could not afford a few years ago, are finally affordable to us...we're now buying acreage, an impossiblity before this real estate burst. We plan on keeping some of equity in the bank in case my husband loses his job next year. At least we'll have some cash on hand. Like I said, our trends say our bubble here alread burst in 2007 and we've been on the up since. Your area may be different. Check with an agent, agents at the larger firms, I know, have these stats updated weekly. Quote Link to comment Share on other sites More sharing options...
WTMCassandra Posted November 12, 2008 Share Posted November 12, 2008 That depends tremendously on your local housing market. Ours, for example, is pretty healthy. If it were me, I would put it on the market now and see what happens, and then pull it off and put it on fresh in the spring. Since you have a contingency plan in place that you COULD move now if needed, but you don't mind waiting, I think it would be smart to put it on the market and give it a try. The good news is that you won't be stressed because it's OK if it doesn't sell now. Quote Link to comment Share on other sites More sharing options...
Sunny Posted November 12, 2008 Share Posted November 12, 2008 I agree... it may take a while to sell, and if you don't want to get caught with an unsold house next year, start now. if you sell, be happy. Quote Link to comment Share on other sites More sharing options...
Sharon in SC Posted November 12, 2008 Share Posted November 12, 2008 I agree... it may take a while to sell, and if you don't want to get caught with an unsold house next year, start now. if you sell, be happy. Yep. Quote Link to comment Share on other sites More sharing options...
Stacy in NJ Posted November 13, 2008 Share Posted November 13, 2008 I'd try now. The market isn't going to get any better in the next year. Quote Link to comment Share on other sites More sharing options...
mariposa Posted November 13, 2008 Author Share Posted November 13, 2008 hey, just wanted to say thanks to everyone who responded. It seems pretty overwhelming that everyone we talk to says do it now, so I think we're going to move forward. It may be better to sell before we "have to" so there's a little less pressure. Well, looks live I have some painting to do! (when I'm not schooling, cleaning, cooking, preparing for the holidays, etc.) :001_smile: Quote Link to comment Share on other sites More sharing options...
Garga Posted November 13, 2008 Share Posted November 13, 2008 Sell now. It does depend on location/price, etc, but the market is slowing down and in some areas it's all but stopped. Quote Link to comment Share on other sites More sharing options...
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