Obama's economist tells you how to sell your house

[ChinoCoug]

http://www.nytimes.com/2007/09/23/business/yourmoney/23view.html?ex=1348200000&en=b6f3b61d013cc107&ei=5090&partner=rssuserland&emc=rss

[BlueHair]

I agree with the article. Your home is only worth what someone else is willing to pay for it. The problem is that many people are unable to take a loss when they sell, because they don't have enough money to pay off the mortgage with the proceeds from the sale.

[Mormon Red Death]

its tough because in less than a year I will be confronting this issue. Two years ago if I'd had sold my house I would have made a 12k profit (in detroit metro this is pretty good). Now in 9 months when we put our house on the market we will be lucky to get what we paid for it... most likely less. However, as we will most likely be moving to new house in the same area we will get a fantastic deal that will assuredly make up for our perceived loss...

It will be tough on the psyche to possibly bring 5k to closing to finish out my loan..

[jay santos]

its tough because in less than a year I will be confronting this issue. Two years ago if I'd had sold my house I would have made a 12k profit (in detroit metro this is pretty good). Now in 9 months when we put our house on the market we will be lucky to get what we paid for it... most likely less. However, as we will most likely be moving to new house in the same area we will get a fantastic deal that will assuredly make up for our perceived loss...

It will be tough on the psyche to possibly bring 5k to closing to finish out my loan..

If you're moving up in the same market, you want to do it in a buyer's market. We did this about four years ago in Utah and it was perfect timing. It was a bear trying to sell our house but we got screaming deal on the next one which was twice as expensive.

[BlueHair]

If you're moving up in the same market, you want to do it in a buyer's market. We did this about four years ago in Utah and it was perfect timing. It was a bear trying to sell our house but we got screaming deal on the next one which was twice as expensive.

Plus the extra space you have in the double-wide is worth the price increase. It makes you wonder how you ever fit all of your stuff in the single-wide. :)

[jay santos]

Plus the extra space you have in the double-wide is worth the price increase. It makes you wonder how you ever fit all of your stuff in the single-wide. :)

Hey what do you expect on a Utah income?