Should I sell???

**HAPPYGIRL** · 07-14-2009, 07:45 PM

Okay...I'll try to make this short and still provide the facts. I bought a house last February. I didn't get a 'steal', but looking at current houses that are selling in my area and talking to a local REA...I paid what people are paying now in 2009. It's not my dream house. I rushed into a big purchase, when I should have held out for something I really loved.

My question is, should I try to sell now...and try to get what I paid for the house (of course minus REA commission, moving fees, etc.) and find my dream home?

I know there are no guarantees than I will get what I paid. Buyers are much more discriminating now. Everyone is bargain hunting (even me!). I live in a desirable neighborhood. There's only about 9 other houses on the market right now that are in the same price range / condition...as my house. Two houses on my block are currently 'under contract', but they went on the market in the Spring. Both sold for less than 10% under asking price.

So, what do you think? Have a 'missed the boat' by waiting until late summer to consider this?

Thanks.

HG

**Greg** · 07-15-2009, 08:18 AM

If you are willing to take a loss to be able to get what you want then go for it.

But before you do, shop around to see if you can find other properties that will make all this effort worth while. Don't fall in love with any of them, just find out if what you are expecting really exists. It is possible you already found the best house for the money.

Typically in this situation someone in your position will fall in love with a house and then try to make a deal contingent on selling their house. Don't do this. Contingent sales always cost the buyer more on the buying end and forces them to take less on the selling end and the seller can still kick you out of the contingent contract.

**HAPPYGIRL** · 07-15-2009, 10:27 AM

Originally Posted by Greg

If you are willing to take a loss to be able to get what you want then go for it.

But before you do, shop around to see if you can find other properties that will make all this effort worth while. Don't fall in love with any of them, just find out if what you are expecting really exists. It is possible you already found the best house for the money.

Typically in this situation someone in your position will fall in love with a house and then try to make a deal contingent on selling their house. Don't do this. Contingent sales always cost the buyer more on the buying end and forces them to take less on the selling end and the seller can still kick you out of the contingent contract.

Thanks Greg. It's very stressful. I agree with all you said. I've been passively looking at houses that are currently on the market. A lot would be contingent upon what I would actually get for my current home. Although I did rush into this purchase...I did get one thing right, LOCATION, LOCATION, LOCATION. Houses are selling, which is good. And if I had to stay, it wouldn't be the worst thing. I just envision us spending the next 10 years trying to make this house what we want and spending a lot of money doing it. I guess it's just hard to crunch 'imaginary' numbers. If end up walking away with a $20-$30K loss...I have to rely on the housing market to keeping dropping so I can still afford a 'better' home...even with my $$$ loss.

I'm no expert, but it seems like we're still at least a year away from the bottom.

I know the Spring is THE time to sell. But is there typically a resurgence of buyers come fall????

Thanks.

HG

**tucsonhomes** · 07-20-2009, 04:30 PM

Summer should be a fine time to sell.

Your home, as you have discovered, is more than an investment. Sure there are investment aspects to a home - and financial consequences when you make a mistake - but home is where you come back to every night.

If you hate it (even if its the best financial deal in the world) it will never be any fun and life lived like that, is less life than is available.

You are the only one who can determine, where you want to live (dream home), how much you can afford to pay for it, and how long you choose to saty there. And, over time, everything changes.

**nattynitin** · 07-26-2009, 10:44 PM

What you are planning to do is totally wrong dude. First of all buying a home itself is a very big thing to accomplish that too in this fast growing economic world. You had deserved in this way. Its an universal logic one will think that the place in front of them is better than the place where they are. So think twice and reach. Don't go with the under value, if you get the affordable price then go ahead sell your old house and get you dream house.