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I spoke to a realtor to inquire about putting my house on the market early spring, in order to prepare to move back to DC area, (summer 2010). I know that housing values are down pretty much everywhere, but in some delusional way, I thought we could break even, (we put 35k down). Unfortunately, we can't even break even with this (Charlotte) market/economy.
Now, I am just heart-broken. I am not sure when housing can pick up enough for us to even consider putting the house of the market. Speaking to the realtor, pushed my moving back dreams further and further away.
I'm so ready to move, and thinking about moving back to the area is what has been getting me through, but now I don't know if 2010 is even feasible!!!
I really don't have any questions I want/need answered, just really needed to vent and get my disappointment(s) out!!!!
So what made you move to Charlotte? We have friends down there, but to tell you the truth, beyond bank jobs and NASCAR there doesn't seem to be much else.
Well, if you feel that strongly about returning to civilization (hehe), then perhaps you need to stop being so cautious.
Maybe you need to just sell your house, accept that you won't break even, perhaps rent a place in DC until your work or other income brings you back up.
It's silly to postpone your life because of some preconceived notion of how much money you thought you were going to get. Houses aren't investments, they're places to live. If you don't want to live in that place anymore, trust that the resources you need will present themselves when you need them and stop trying to control how those resources come to you. I've lived my entire adult life by this principle. Nothing ever goes the way I anticipate, but the craziest opportunities for money or whatever present themselves precisely when needed for my highest purpose - which is usually far greater than anything I could have conceived.
One thing about that though, your house may go up in value with time, but so will the ones in DC. So you're losing money on your house now, but also getting a better deal that you won't later in DC.
Thanks for the advice/comments. We're definitely thinking about renting the house out values haven't improved by Jan 2010. We thought about trying to rent the house out in Charlotte for 1 year, as well as, renting in DC for about 1 year. This would allow us to save money to fix any repairs that the Charlotte house may need due to renting. I'm just extremely worried about this b/c of the renting horror stories I've heard.
We would love to just be able to sell the house and walk away, but with the projected cost of selling the house/realtor fees, NC state fees, and etc, we would be about 15,000 short, and I don't know where we would come up with that type of money.
This is bothering me so much, b/c as ffknight918 stated, we are losing out on great house deals in the DC area b/c we can't sell our house here!!! I really need for our economy to improve QUICKLY!!!
we are losing out on great house deals in the DC area b/c we can't sell our house here!!! I really need for our economy to improve QUICKLY!!!
Don't worry. I do not think the housing "deals" in the DC area are going away any time soon. In fact, I think you will start to see even better deals by the time we get to 2010. It sounds like you have only two options if you want to return to DC -- sell your Charlotte house at a loss or rent it and wait for a recovery. It is a personal decision, but I would probably try to rent the Charlotte house. Since prices never skyrocketed in Charlotte the way they did in places like DC, SoCal, etc, I have to think that the housing market will recover there sooner than in a place like DC. But who knows?
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