I want to sell my house

After talking with some people I have decided it's time to sell my house and downsize to a condo. I own a 4 bedroom 2 bath home which is just so overwhelming for a single person like me. I paid 337 back in Nov of 2004. I did refi since then to a 30 yr fixed at 5.625. My taxes have also gone up significantly since I owned the house. When I purchased the home taxes were 4800 now they are close to 6,000 a year.

I want to downsize to a 3 story condo/townhome with a 1 car garage and basement. I am looking for 3 bedrooms. The prices are pretty reasonable since the market has declined. Now I can't afford to sell my house tomorrow b/c I borrowed money off of the equity to pay off some CC's which should be paid off within a year or 2 at the most.

Now my neighbor who has an identical house to mine just sold his back in may for 365. However his is a little newer built in 96 and compared to mine built in 92 and he has central air and I don't.

I know it's hard to predict the future in anything, however I am just wondering if anyone has an idea on where we stand with housing over the next 2-3 years. Does it look like we will sill be in a buyers market? I know the gov't is going to try and lower rates to mid 4's and I am not sure when that is going to happen, but since my time frame to sell/buy is not anytime soon I may miss that boat.

I have heard from a realtor that it's possible we may see 4% sometime in early 2009 but who knows.

With the market today I can probably get around 350 for my house. My last appraisal back in 2006 was 389, but that was when the market was pretty hot. I owe approx 315 and if I wait a year or 2, I will have paid my mortgage down to about 300.

Can someone advise me here what the best option is and any advice on where the market/rates may be within the next year or 2?

Thanks

Real estate is local. I think that you'd be best off consulting a realtor in your area to help you value your home and take a walkthru to see what might need to be done to get you in the right competitive space to make this happen for you.

Joe

Only advice I can give is don't rush the sale or the purchase, and use an agent!

Well, I too love to buy a condo too, but I don't have enough finance, I will am trying to get some home loans..........Do you have any ideas to get some home loans (http://www.TalkingHomeLoans.com)?

I wouldn't sell if you can help it. Rather, I would find a tenant, sign a rental agreement, and wait for the market to recover in a year or two.
If you must sell, here's a good article on how to make your house stand out and sell faster: sell your house now (http://www.goarticles.com/cgi-bin/showa.cgi?C=1366779)
If you do decide to rent it out instead, here's a site that offers a custom rental agreement (http://www.ezlandlordforms.com) for each state.
Best of luck,
Greg

After talking with some people I have decided it's time to sell my house and downsize to a condo. I own a 4 bedroom 2 bath home which is just so overwhelming for a single person like me. I paid 337 back in Nov of 2004. I did refi since then to a 30 yr fixed at 5.625. My taxes have also gone up significantly since I owned the house. When I purchased the home taxes were 4800 now they are close to 6,000 a year.

I want to downsize to a 3 story condo/townhome with a 1 car garage and basement. I am looking for 3 bedrooms. The prices are pretty reasonable since the market has declined. Now I can't afford to sell my house tomorrow b/c I borrowed money off of the equity to pay off some CC's which should be paid off within a year or 2 at the most.

Now my neighbor who has an identical house to mine just sold his back in may for 365. However his is a little newer built in 96 and compared to mine built in 92 and he has central air and I don't.

I know it's hard to predict the future in anything, however I am just wondering if anyone has an idea on where we stand with housing over the next 2-3 years. Does it look like we will sill be in a buyers market? I know the gov't is going to try and lower rates to mid 4's and I am not sure when that is going to happen, but since my time frame to sell/buy is not anytime soon I may miss that boat.

I have heard from a realtor that it's possible we may see 4% sometime in early 2009 but who knows.

With the market today I can probably get around 350 for my house. My last appraisal back in 2006 was 389, but that was when the market was pretty hot. I owe approx 315 and if I wait a year or 2, I will have paid my mortgage down to about 300.

Can someone advise me here what the best option is and any advice on where the market/rates may be within the next year or 2?

Thanks


If you want to sell your house (http://www.ushomeassist.com) then it is essential that you should have a better plan and good knowledge about the market. Before selling your home prepare a home selling plan that will help you to avoid home selling mistakes. Also consult with your local real estate agent in your area to help you value your home and check online for sites, specialized in selling Homes and provides advanced tools to sell your fast. Thanks.

Yeah. Don't rush on selling your property this is not a good idea to sell property because economy is really bad.

There are various options available to you, but obviously, with the current market conditions as they are, you're not going to get a great deal for your property. I would rent it out personally. Then again, property is also cheaper to buy, so it works both ways....

Hi,
Don't rush on selling your property this is not a good idea to sell property because economy is really bad.

Don't rush to sell. In fact, be 'cunning' here. Get 3 agents from 3 different companies to help you. See who gives the best price. Maybe that would give you a 'market' price and determine if you want to sell.

Of course, having 3 agents means that if 2 of them are consistent in their calculation and one isn't, you've got reasons to suspect that one guy...

you could get in touch with people who are highly experienced in real estate investing (http://www.realestateinvestingincanada.net/).Be it buying,selling or investing get all your solutions here.

It's hard to predict the future in any market, but I'd say you're looking at a minimum of one year for anything approaching a recovery (summer real estate season 2010), and possibly not until summer of 2011 or 2012. If you have your heart set on moving within the next year or two, you might consider signing a lease agreement on the property, and having the tenants pay the bills on it for you as you downsize.
Before making that decision and signing a lease agreement though, make sure the market rents will cover your expenses on the house.
Best of luck,

__________________
Greg
Lease Agreement (http://www.ezlandlordforms.com/)

Hi brain123,

yep.. It would be better to consult with person who is well experienced in such a field.

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Buyer's Agent (http://www.buyersagent.net)? Do you need one and how do you find one?