So we all know housing prices are TANKING right now - good for buyers
, not so good for sellers
- really really bad for me.
My husband and I are moving to CT to build our home. But we need to sell our house in RI (I feel like this RI market is the worst in the country - I've heard it said that RI's always the first one into a recession and the last one out).
Or do we? - is it wise to hold onto a house and rent it out, waiting for prices to eventually get better?
We have a realtor coming by Wed to talk with us, but she did tell my husband that recent buyers
are all at town hall yelling about their taxes. Apparently (according to the agent) the few houses that are selling right now have actually gone for LESS than the assessed tax value. Is that
crazy or what? Our whole town was re-assessed about two years ago.
So what's the wisdom on this one? In order to build the house we want, we need to sell. BUT I seriously am considering keeping the RI house, renting it out and just building a garage with an apartment on it to live in for now!
Maybe
I'm crazy - I do have three kids, a dog, a cat and a mom who visits a lot! I can just imagine us all in an 800 sq ft apt. I hope my mom doesn't mind sleeping in the bathtub. (Or maybe she'll make hubby happy and go to a hotel!?!)