Quote:
Originally Posted by calitalia
We live in Coweta County and need to move up north to be near my mother. Is anyone selling their house without losing all of their savings? We bought the house 2 years ago and found out that it's now worth $50, 000 less than we paid.
Does anyone have any suggestions? It's a VA loan so I'm not allowed to rent it out.
We're getting desperate! Thank You.
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Unfortunately, that's the fact of life in this market or really any market. Houses sometimes lose value. We bought our house in Marietta in Sept 2007 and it's probably worth about 10% less now, so I understand where you're coming from and empathize.
As with selling any house at any time, it's a balance between time and money. You can sometimes get closer to top dollar but it will usually take more time to sell. If you price aggressively, you may sell quicker but for less.
The key is whether or not you have equity and can sell for what the house is worth and walk away even or with a little cash. Many people who bought with little down and little equity are upside down. If you're not, count yourself lucky for that. As far as losing the money, unfortunately that's the problem with any asset...they can always depreciate and there is no guarantee of appreciation.
You can wait out the market and in 2 or 3 years you may be back to par, but if you can't wait then you really have little choice. The house is worth what others will pay for it.
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Is anyone selling there house?
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