We are wanting to sell our home and buy another one. Is it a good time to do this? I am not looking to?

Question

make a profit, I mean I don't want to have to owe anything, but what I am saying is we aren't selling to make money...we just want to move. Is it a good time to do this? We live near Houston.

Thanks.

Answer 1

Unless you're going to get a fair amount of equity in your current home (enough to put 20% down on your next one) now is not a good time to sell.

I mean, if you bought your current home 15 years ago and you don't have an equity loan, very likely you'll walk away with money.

Answer 2

As long as your able to afford to buy the other home, without making a profit on your previous one, go for it!  But if you don't sell the house your living in currently, things mite get rough, unless you have the money to have two homes simultaneously.



You should see how the selling market is in your area, but I doubt you'll be able to sell.  However, the buyers market is great, when the market gets better, you'll really see the steal you've made, that's if u decide to buy. It all really depends on how your doing financially and where you live.

Answer 3

One problem you're going to have is with the timing of everything.

Houses are sitting on the market an average of about 4 months right now. So, let's say you find a place you like and the purchase is contingent upon selling your house. But, it takes 4 months (or more) to sell it. Will the other sellers wait that long? Probably not, especially if theirs has been on the market for a while. And, the only way to improve your chances on having a quick sale is to list your house for less than it's worth (you lose money).

So, what if you put your house on the market first, with the sale contingent on you finding another house. When the buyer puts in an offer, are they going to be okay with waiting around while you look around for that perfect place (that may not come up for months, if at all)? If not or the agreed time limit runs out, you start over from square 1.

In the days of short market times, this wasn't a problem. But, with houses sitting on the market for months, it becomes so much more difficult to do sales/purchase contingencies. Maybe you'll get lucky and find very a amenable buyer/seller. Otherwise, you may end up selling and then living in a month-to-month apartment for awhile as you look for that perfect new home.

Answer 4

well as of right now, the real estate market has dropped a lot...so if you sold now, like stock, there's a chance that you just might LOSE money instead of just breaking even.....my sugestion is to sell LATER....when it's a little higher....unless your looking for an inexpensive house, then just move, but keep the old house until the market goes up, then sell it.

HOPE THIS HELPED!

Answer 5

To sell is not a good time but to buy is the perfect time...

I wouldnt do it right now.. wait a little..anyways to sell your place right now will take you a long time... good luck

Answer 6

Your house is still worth the same. It is worth a house. Unless your neighbourhood has got worse.

Houses cost less at the moment, so you'll recieve less, but pay less.

I would advise waiting till you've sold before you buy something else - just in case. At the moment properties are likely to stay longer on the market.

Oh, and haggle! The listed price is never the final price. Well not for me anyway.