Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Austin
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-28-2009, 07:25 AM
 
Location: New England
1,000 posts, read 1,797,670 times
Reputation: 820

Advertisements

I worry too much sometimes. What has got me worried now is we are thinking of moving from CT to Austin. The scary part is we bought a small cape cod style house in CT in the middle of 2005 (near the height of the housing boom). If we try to sell it in the spring/summer of 2010, we are probably going to take a loss. That really bothers me. But then, I am thinking, wouldn't it be a wash (ie. we come out even)? My question is: if we sell in CT and buy in Austin, isn't there a good chance that any loss we take in CT, we will make up in more value in the house we get in Austin? What do you all think, thanks!
Reply With Quote Quick reply to this message

 
Old 08-28-2009, 07:55 AM
 
7,742 posts, read 15,059,904 times
Reputation: 4295
Quote:
Originally Posted by blakesq View Post
I worry too much sometimes. What has got me worried now is we are thinking of moving from CT to Austin. The scary part is we bought a small cape cod style house in CT in the middle of 2005 (near the height of the housing boom). If we try to sell it in the spring/summer of 2010, we are probably going to take a loss. That really bothers me. But then, I am thinking, wouldn't it be a wash (ie. we come out even)? My question is: if we sell in CT and buy in Austin, isn't there a good chance that any loss we take in CT, we will make up in more value in the house we get in Austin? What do you all think, thanks!
Difficult to say. Prices at the higher end have dropped substantially. There are houses in my neighborhood that were selling for 550-600K last year that are 450 now - and sitting on the market. 3300 sq feet, backing up to greenbelt, 4 sides stone etc.


If you find a deal like that then I would say yes. However there are houses in my neighborhood that are still trying to sell (similar characteristics) for 630K. if you get a deal like that, then no.

The point is the average price/sq ft hasnt necessarily dropped that much (5%) but there are more individual deals.
Reply With Quote Quick reply to this message
 
Old 08-28-2009, 08:55 AM
 
Location: Austin, TX!!!!
3,757 posts, read 9,033,851 times
Reputation: 1762
A lot would depend on how much your loss is going to be and what you consider "breaking even." If by breaking even means that you will have a similar quality house in a similar neighborhood, again that depends on where you are going to live down here and what the prices were like up in CT. When we sold our home in Seattle we were "in city" but we didn't move in city here because it turns out the prices were actually pretty similar and we wouldn't have been any better off. Fortunately we bought in early 2001 so we didn't take a loss (actually made some money).

We opted to move to the suburbs which are MUCH lower cost here than in the Seattle area, so we are "better off" in terms of a nicer house with less work to do on it for a lower price, but it means we have to live in the 'burbs of SW Austin. We used to be able to walk four blocks to the neighborhood pub, grocery store, drug store, etc. Now, unless we are willing to walk about two miles, we are have to get into the car to get to the same amenities.
Reply With Quote Quick reply to this message
 
Old 08-28-2009, 09:07 AM
 
Location: New England
1,000 posts, read 1,797,670 times
Reputation: 820
Thanks for the input jennibc and everyone else, so far. currently in CT we live where we have to drive about 1.5 miles to any stores, and have to drive to any restaurants, etc. The park is walking distance though. So, driving to stuff isn't a negative in our view.

Quote:
Originally Posted by Jennibc View Post
A lot would depend on how much your loss is going to be and what you consider "breaking even." If by breaking even means that you will have a similar quality house in a similar neighborhood, again that depends on where you are going to live down here and what the prices were like up in CT. When we sold our home in Seattle we were "in city" but we didn't move in city here because it turns out the prices were actually pretty similar and we wouldn't have been any better off. Fortunately we bought in early 2001 so we didn't take a loss (actually made some money).

We opted to move to the suburbs which are MUCH lower cost here than in the Seattle area, so we are "better off" in terms of a nicer house with less work to do on it for a lower price, but it means we have to live in the 'burbs of SW Austin. We used to be able to walk four blocks to the neighborhood pub, grocery store, drug store, etc. Now, unless we are willing to walk about two miles, we are have to get into the car to get to the same amenities.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Austin
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top