Moving to Maine during the winter...... (Eastport: spring break, real estate, leasing)

[Elcarim]

So, what can you tell me? We have made the decision to get the hell out of dodge - regardless........our best option at this point - leasing the house. That seems to be pretty much our only option if we want to move any time in the near future. We also know it will lease lickety split once we list it, so we have to make a timing decision. We have to decide if we should plan to do it sooner or later, based on the feasibility of moving up during the winter months. We need some help with that one.

We're so close to the holidays now, we'd prefer to spend this last season here with the fam, so we'll at least be looking to January or February. That also gives us time to save more money. We'll be moving with almost as much saved up as we would have had out of selling the house - still not much!

We realized last week when we discussed it with my parents that in the last year, we've made more in house payments and insurance premiums on the house than we would have cleared selling it at our latest listing price. And the fact is that it hasn't sold in over a year, though we've reduced our price along with the market - 3 times now. Nothing is moving! Prices keep getting lower and lower, and we're nearing a break even point on our mortgage payoff, yet it's still not low enough to sell. That puts us in the position of being forced out of the real estate game. So, our only other choice is leasing it out and moving on what we have saved.

I just need some insight and shared wisdom. This is a huge decision for us, you understand. What are your thoughts?

[Shuffler]

I could be in that situation next year.

I need the equity out of my house to put toward a new place and secure an affordable home loan. Now more than ever before, we'll see banks really tighten up lending standards. I'm worried.

I can't afford to move to Maine without selling my house. I will not rent my house either...after 11yrs there and the fact that it's very old (1937) and requires special care, I am too emotionally attached to let it fall victim to a renter.

[Maine Writer]

We had a tenant move from FL to ME in February. She loved it once she learned to drive and dress in layers. You'll love it!!

[Elcarim]

We have the good fortune of having absolutly no emotional attachment to this house or this state! There is only the legistics of dealing with tenants - long distance. Fortunately, most of our family lives in town or very nearby and can help with that.

[maine4.us]

I think you are wise to wait until after the holidays to consider making any kind of move. Maybe even staying in Texas till the schools have spring break is also something you might want to consider. When the insurance checks start arriving for the damaged/destroyed homes in the area, you will have a much better chance of selling your house. In the problem states many of us have watched the equity in our homes be eaten away. Most working people have the majority of their wealth is their home. We believe we have lost about 50K of equity in our home in the last 2 years. Here in Florida there doesn't seem to be any end in sight to falling market values.

I would also think about is the job situation for your husband. Governments everywhere are facing budget issues. With declining tax revenues from property and declining business taxes most governments are facing deficits how much new hiring is going on. Of course, your husband may already have a lock on a job when he gets there, regardless. I think many people right now have the jitters, at least I do about a lot of things.

I know how you feel about leaving Texas, as we feel the same way about leaving Florida. Janice spent 72 days in Eastport and I spent 30, and when we left we, weren't coming home to Florida, we were leaving home from Maine. We left Maine because our current jobs are in Florida. We aren't young, so we don't have a lot of time (money earning years) to get ready for retirement, so we have to be a bit more prudent than younger couples.

However, if you can't one more day in Texas, go for it! Every journey starts with the first step!

[island mermaid]

Just do it! Nobody has wanted it more than you, just go and be happy! You're still young, everything will work itself out. Why put off happiness any longer? C'mon El, JUMP! Take the leap of faith! Gooooooooo!

just my 2 cents - only worth less than half of that.

[skytrekker]

Moving to the northeast of NYC in the winter is a real guess- north and northwest of Boston is Russian Roulette.

[starwalker]

If you have folks there who are willing to step up to the plate and help manage the place for you, and if they share your vision for how this should be done, that is a big plus.

I for one do NOT think the housing market is going to improve any time soon.

Finding work and a place to live in Maine is the second issue. WE moved in the winter (March 1 being for sure winter, here, still...) and have no regrets. My only "gee I wish I had known..." is that I would have packed stuff for the move differently had I know most of it would be in storage for 6 mo. I am still finding things that should not have been stored in unheated space (nothing major... I had all my paints and such, but lost 2 bottles of Titebond that I found, solidified, in a box recently). I was lucky to have unemployment... that helped and now though my very part time job has become even more part time due to it no longer being tourist season, I am lucky to have my hex sign painting picking up so that -- by hook or crook -- we are getting by.

From past experience I KNOW that if I keep my eye on what I CAN DO, am open to opportunities and not focused on "where's the $$ coming from..." that it will be provided.

Your mileage may vary. That sort of faith/trust/whatever certainly does NOT work for everyone!

I am pretty sure that coming to Maine in winter will be an adventure. With kids in school, I don't know if it would be better to come during a break or just jump in, knowing things will likely be rough for a bit. "spring break" here, though, I don't think, comes at a time where there is a lot going on outside yet... so that might be a bit isolating. Maybe Molly or Maine Writer or others with school age youngsters will speak to that a bit.

Starwalker

Originally Posted by Elcarim

So, what can you tell me? We have made the decision to get the hell out of dodge - regardless........our best option at this point - leasing the house. That seems to be pretty much our only option if we want to move any time in the near future. We also know it will lease lickety split once we list it, so we have to make a timing decision. We have to decide if we should plan to do it sooner or later, based on the feasibility of moving up during the winter months. We need some help with that one.

We're so close to the holidays now, we'd prefer to spend this last season here with the fam, so we'll at least be looking to January or February. That also gives us time to save more money. We'll be moving with almost as much saved up as we would have had out of selling the house - still not much!

We realized last week when we discussed it with my parents that in the last year, we've made more in house payments and insurance premiums on the house than we would have cleared selling it at our latest listing price. And the fact is that it hasn't sold in over a year, though we've reduced our price along with the market - 3 times now. Nothing is moving! Prices keep getting lower and lower, and we're nearing a break even point on our mortgage payoff, yet it's still not low enough to sell. That puts us in the position of being forced out of the real estate game. So, our only other choice is leasing it out and moving on what we have saved.

I just need some insight and shared wisdom. This is a huge decision for us, you understand. What are your thoughts?

[BacktoNE]

Okay, it took me a moment or two (or ten) to squash down the jealousy but I'm okay now and will toss in my 2 cents worth.

I fully understand your desire to spend one more holiday season with family in Texas, however, that is also a really good time to move kids into a new school system, right at the beginning of a new semester. Now, I don't have kids and don't have the first clue as to what's involved in transfers, testing, etc so take this with a grain of salt.

If I remember correctly, weren't there a couple of towns who were very interested in hiring your DH as soon as he had boots on the ground in Maine? If those offers are still good, that is one big issue you won't have to worry about.

Regarding your house in TX. Have a serious conversation with family members to make sure they are truly on board with acting as your contact person for the renters. They will have to give out their phone numbers for emergency repairs, etc. so it's important that they are 100% committed to helping you.

Now, start packing and making phone calls to find a rental house, utilities, etc., and get yourselves home to Maine!!

We are still 5 months from putting our house on the market and with the news of the past 2 weeks, we are not optimistic that we will sell and be home in Maine anytime soon. Anyone with a spare miracle in their pocket, sending it this way would be greatly appreciated.

[Elcarim]

The house we'll be staying in temporarily when we get to Maine is already somewhat taken care of - a few details to iron out with the owners.....We also did think that it's a good idea for Dh to call again to the employers he's previously contacted to get the current scoop on hiring. Emergency services are pretty much always needing people, regardless of the economy. We just have to make sure there are no hiring freezes or something of the sort.

Our other thought about moving around the first of the year is that by February, we'll be able to file our taxes. With all these kiddos to claim, we always get a large return - usually $3K plus - so that extra money would sure come in handy. I haven't priced our moving truck expenses recently, so I'm going to work on that tomorrow.

And Star, I agree, there seems to be more decline coming in the housing market. I don't see the horizon yet.