How difficult is it really...relocating, relocating back? (real estate, rental)

[Travelin2012]

I am just wanting to hear some first hand stories...people who have really done it///sold a home in one state and moved to another. I am going to do one of several options,,,,just thought it would be nice and supportive to hear from others//even realtors who frequent this board.
1. We all know what kind of condition the country is in Real Estate wise.
2. Good time to buy, if you have a nice stash.
3. Most of us would have to sell property(s) to purchase somewhere else.
4. I have a rental prop. and a principal resident in So.Cal. We all know that CA, FL and Vegas have bit the big one RE wise. But MA Real Estate has depreciated considerably also....the whole country.
5. Financial wizard Suze Orman says "stay put".
6. But if and when the housing market recovers....which I think that it will, will it be straight accross the board???

Just asking,,,,,anyone have a story to share (the truth) about the relocation....and I will say to MA, because this is a MA board. I am considering renting back there, that way I can live there again before buying. I do believe no matter what anyone says....that it is hard to buy from one state to the next. I lived in MA 20 yrs, been gone 5....do not want to make a mistake, because I only plan to move once.

AND,,,,as we all know in real estate that timing is everything. But, I am 50 yrs old....and my life is slipping away. I am now becoming just interested in my happiness....whether I take a loss or not (ouch did I say that). I am lucky that I have 4 yrs to do this....my son and I will go to MA next summer and stay with friends.....and decide between 3-4 towns...as you cannot go all over the map.....So, any stories (whether HORROR or not) because anyone who says that this will be a piece of cake is simply not honest.
Thank you.

[scarletfire]

I know a few people who have bought here and are just renting their home in the state they came from. That way they can take advantage of the slow housing market here and hopefully sell their existing home in a few years when the market picks back up. However, that still leaves you some risk if the tenant bails on you or damages your house. Personally I would nervous to rent and then move out of state but I suppose people do it a lot and it's much better than letting the house sit vacant, which is a liability in itself. I've seen quite a few big homes that are for rent here because people couldn't sell and they need to cover their mortgage, etc but some of these don't get rented for awhile. I guess it depends on the area. I don't think everyplace will recover at the same time. For ex, one of my relatives lives in an area of NJ where there was large pharma presence but one of the big employers scaled back. Now she can't seem to sell or rent her existing home and would have been better staying put.

I don't know if that's helpful or not....We moved cross country twice but didn't own a home at the time so it was a lot easier to be mobile!

Best of luck!

[scarletfire]

This data might be helpful:
S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Home Price Values

S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Key Housing Indicators

[Travelin2012]

Originally Posted by scarletfire

This data might be helpful:
S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Home Price Values

S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Key Housing Indicators

Thank you kindly for the information, I will check it out.