Forum Thread

Selling Your Home Now vs Waiting for Economic Recovery


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    I know a few people right now that are in this situation - they would like to sell their home right now but don't think it's a good idea because of the economic downturn. They are afraid of losing money on their investment. But I suppose the counter is if the entire housing market is down then they can also buy a new house on the cheap, and it could be a wash.

    Does waiting until the economy recovers a good idea or does it matter if you are looking to sell and buy in the same market, no matter if it is up or down? I go back and forth on this.. I think it matters how much you owe and if selling makes you upside down or not. But assume that's not the case. Would you wait or does it really matter?

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    It's definitely a buyers market right now. The only downside that I have heard of is that banks and lenders are turning down more people for loans as a result.
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    I think this all depends on what your zip code is. The housing market in Portland has never been better. There were a couple months early into the economic downturn that saw sluggish growth, but houses and condos are typically selling in a matter of days now.

    A lot also depends on your financial situation. Unfortunately, the housing market in many zip codes is so competitive that tens of millions of Americans are automatically priced out.

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    Old Sport Wrote:

    Alot also depends on your financial situation. Unfortunately, the housing market in many zip codes is so competitive that tens of millions of Americans are automatically priced out.

    Good point. I didn't think about that. I've been considering taking advantage of the current market and buying a home. This makes me think. I'll definitely be doing more research in the areas I'm looking, and I'll be asking real estate folks what their take is.