Obama's economist tells you how to sell your house - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

ChinoCoug · 09-25-2007, 02:03 AM

http://www.nytimes.com/2007/09/23/bu...erland&emc=rss

BlueHair · 09-28-2007, 06:27 PM

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 · 09-28-2007, 07:20 PM

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 · 09-28-2007, 07:33 PM

Quote:

Originally Posted by 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..

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 · 09-28-2007, 09:32 PM

Quote:

Originally Posted by jay santos

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 · 09-28-2007, 09:49 PM

Quote:

Originally Posted by BlueHair

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?

09-25-2007, 02:03 AM	#1
ChinoCoug Senior Member Join Date: Jan 2006 Location: NOVA Posts: 3,005	Obama's economist tells you how to sell your house http://www.nytimes.com/2007/09/23/bu...erland&emc=rss __________________ 太初有道

09-28-2007, 07:20 PM	#3
Mormon Red Death Senior Member Join Date: Jan 2006 Location: Clinton Township, MI Posts: 3,126	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.. __________________ Its all about the suit

09-28-2007, 06:27 PM	#2
BlueHair Senior Member Join Date: Nov 2006 Location: Utah Posts: 1,148	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.