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Old 10-03-2022, 06:53 PM
 
3 posts, read 2,662 times
Reputation: 20

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Retired single female,70+ with kids living out of state. Currently live in a 4k+ Sq ft house with no mortgage over half acre and pool. Currently Have more than 1mil equity in the house and would like to know if i should cash out now or wait?. I understand no one has a crystal ball but want some suggestions. The utility bills, landscape, pool maintenance and general upkeep is costing over 2.5k a month and i have already lost over 150k in home value due to recent shift in real estate. I would like to sell now and retire in Florida.

What would you do?.
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Old 10-03-2022, 07:10 PM
 
794 posts, read 1,223,985 times
Reputation: 1158
Of course you should sell now! The key point being that you said "I would like to sell now".

Good luck!
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Old 10-03-2022, 08:38 PM
 
Location: Dallas suburbs
319 posts, read 229,048 times
Reputation: 520
Hopefully you already have a real estate agent in mind, and they can pull you adequate data and statistics for you to help guide your decision. People have to make the decision for themselves about what feels right for their situation.
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Old 10-03-2022, 09:07 PM
 
899 posts, read 672,681 times
Reputation: 2415
I know you hate to lose money on it...but sometimes the longer you hang on, the more you lose. But sometimes if you hang on, the market bounces back. Find a good real estate agent (I know a good one in Dallas, and he does property mgmt) and see how your time frame works. Maybe you say "I want to get this much out of the sale" and the agent says, "Then wait until this date to sell."
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Old 10-03-2022, 09:17 PM
 
13,194 posts, read 28,309,749 times
Reputation: 13142
Quote:
Originally Posted by cowgirl911 View Post
Retired single female,70+ with kids living out of state. Currently live in a 4k+ Sq ft house with no mortgage over half acre and pool. Currently Have more than 1mil equity in the house and would like to know if i should cash out now or wait?. I understand no one has a crystal ball but want some suggestions. The utility bills, landscape, pool maintenance and general upkeep is costing over 2.5k a month and i have already lost over 150k in home value due to recent shift in real estate. I would like to sell now and retire in Florida.

What would you do?.
You want to move out of state. You have $1M+ in equity and are spending, what, $50k a year between monthly expenses & property taxes? Sell! Take the money & run! You have the perfect situation to sell.
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Old 10-04-2022, 01:00 AM
 
1,449 posts, read 1,491,187 times
Reputation: 1821
I don't think you can time the market....plus your expenses are fairly high....spending $50,000/year might take you 5-6 years to get that back...if things ever start to go up again. I always say there are lots of $1mils homes in DFW....lots of places to choose from ...including new homes....pick a city....Dallas, Plano,Frisco,Prsoper, Fairview,Lucas, Southlake, Colleyville, Coppell, Flower Mound...and the list goes on depending on what you want.

Enjoy life...if you are ready for Florida, now is the time to move.

I guess it depends on where you want to move, but maybe you save the $150,000 on the purchase there.
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Old 10-04-2022, 01:05 AM
 
588 posts, read 487,459 times
Reputation: 741
Life is too short to be wasted on a house. Sell the darn thing and go live your life. Its time to have some fun!
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Old 10-04-2022, 07:23 AM
 
16 posts, read 12,926 times
Reputation: 52
Sell! We're clearly past the peak of the market, and a big spike is unlikely any time soon with the increasing interest rates and fears of a recession looming. That + the fact that it's costing you a lot and you'd like to move, i think the answer is clear. sell and cut yourself loose
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Old 10-04-2022, 08:15 AM
 
2,997 posts, read 3,106,499 times
Reputation: 5981
Quote:
Originally Posted by dishdash11 View Post
Sell! We're clearly past the peak of the market, and a big spike is unlikely any time soon with the increasing interest rates and fears of a recession looming. That + the fact that it's costing you a lot and you'd like to move, i think the answer is clear. sell and cut yourself loose
I agree with this.
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Old 10-04-2022, 08:20 AM
 
3 posts, read 2,662 times
Reputation: 20
Thank you..
Have an appointment with a Realtor and planning on listing the house.
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