When do I list my house? (2009, mortgage, mortgages, housing)

[janetvj]

I have never sold a house before - I bought my first house 15 years ago and I am still here. However, I plan to retire next year and move to Florida. My tentative retirement date is July 1, 2009 (My pension calls for annual cola's paid on July 1. You have to have been retired a full year to get the first one, so by retiring on July 1st I only have to wait 12 months). The housing market has slowed considerably in my area (as it has pretty much everywhere). I really don't want to move twice, but listing it too early may mean I would have to rent somewhere until July. But not listing it early enough and having it languish on the market would mean I may not be able to retire on target, as I couldn't continue to pay my mortgage for more than 6 months or so or I'd start to run out of money (I have some savings and I'll have a guaranteed monthly retirement income but it would be cutting it real close to continue to have an $1,100 a month mortgage payment). I know this isn't an exact science, but does anyone have any suggestions or been in a similar situation? What did you do?

[FLBob]

Hello from a Baltimore boy that ran to Florida years ago...

If you feel that the housing market in your area is in a price decline that could continue, then you would be better off financially getting it sold now. If you decide to list now then be sure to price to sell now.

The housing market in Florida may be going lower, but I'm seeing property selling when the asking prices get to pre-boom levels.

[Rakin]

Around TX the best time to sell is mid-march through the summer. Many people move around the school years with many college grads moving around the end of May.

I'd have the house on the market Feb or Mar 1.

[Aibutiej]

The key to not having your house languish is price. If you are realistic about how you will have to price, you might be able to sell your house in a short amount of time. At least, that is what I am telling myself since I can't put my house on the market until end of January, beginning of Feb. and I want to be out by May.

[janetvj]

Thanks for the advice. I think I'll hold off until after the Christmas holidays. My house is definitely in the moderate price range and more attractive to a first time buyer. Prices in my area haven't fallen dramatically; things are just taking a little longer to sell, as it's gotten a lot harder for many first time buyers to qualify for mortgages.

A note to FLBob - hopefully we will soon be neighbors again!

Janet