I’m thinking of selling my house at a loss of 15-20K so I can pick up a better one at a depressed price right now. If, worst case, I lose 20K, I still walk with 20K to put down on another house.
I spent 135K and dumped another 35K of improvements into a 1920 craftsman bungalow in the first year. Over the last 4 years the crime rate has increase and renters are moving into the area, so the houses around mine are looking worse and everyone around here is pretty scuzzy now. My decent neighbors have all moved out of the neighborhood, and I bought an alarm system and a shotgun.
I’m thinking that on one of those depressed price homes in a better neighborhood, I could at least recover my loss if not make a few bucks once the housing market rebounds.
If it’s a buyers market, I should be able to drive as hard a bargain on my purchase as the buyer of my house no doubt will. I’m looking at a brand new condo, built in 2007 never sold, price a year ago was 279K, now it’s listed at 249K.
If anyone is in real estate, I’d like to hear your take on the situation, because the agents I talk to here have an financial incentive to feed me BS because they are starving right now.
Any advice on negotiations with agents and or buyers? My dad thinks I can negotiate real estate commissions too, but I don’t know if you can here. Any truth to that?