I am in deep with a little equity and wondered if I should sell and bank the profit and then rent for a while or move to better housing market?
2006-10-08 09:52:16 · 10 answers · asked by YA H 1 in Business & Finance ➔ Renting & Real Estate
If there was *anybody* who could reliably time the housing market, they would have wealth to beggar Bill Gates.
It never hurts to get lucky in timing. But trying to time it is likely to hurt you a lot more than it helps.
2006-10-08 13:21:25 · answer #1 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
The housing market will continue to increase not decrease. If you purchase a house that is cheaper, more than likely you will have to do a lot of work to it, or it may not be in the neighborhood that you would like. So cheaper is not always better. I would say keep the one you have. If you bank the equity, you will have to pay taxes on that income at tax time.
2006-10-08 10:00:48 · answer #2 · answered by passmenot3 1 · 0⤊ 0⤋
well housing market always goes up over time, and beats inflation, and since your borrowing most of the money, that is good leverage, Now would it be better to sell, rent for 6 months then buy? Right now we are hitting a slump in housing, and I think it is too late to sell safely. If markets pick up next summer, the cost of selling, rebuying capitol gains, moving headaches, ect, i dont see how you could come ahead. Now If you did it at the peak pre june, saying that you see a slump coming, you would have been right. Now you are saying lets sell low, hope I can buy low again, then come up a few bucks, too much risk
2006-10-08 14:54:28 · answer #3 · answered by cjkloanguy@yahoo.com 2 · 0⤊ 0⤋
What you are suggesting is speculation. That is what the problem with the younger set today. A lot of people are going to get hurt doing this. A home is not an investment and certainly not a speculative entity. It is a very good accumulation of equity and takes years. That is you nest egg 20 25 years from now. Never roll dice with it. Just protect it and let it grow. Long term wise, it will appreciate.
2006-10-08 14:32:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think you should hold on to your house just alittle longer maybe even rent it out . Houses are in the low market right now , but they will go back up sooner or later.
2006-10-11 18:23:55 · answer #5 · answered by shana m 1 · 0⤊ 0⤋
actual materials markets are interior sight in nature so it truly is complicated to estimate what is going to take place once you're making your furnish. it truly is a robust time to purchase because of the fact rates have got here down and in maximum factors it truly is a customer's industry. yet in some factors we are seeing a extra everyday appreciation than the appreciation we've considered contained in the previous 3-5 yrs. (which develop into over inflated besides) Make your furnish and you will immediately see the place the incentive is. decide for It!
2016-10-02 02:20:32 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Move to a better housing market
2006-10-08 09:54:11 · answer #7 · answered by R & B 5 · 0⤊ 1⤋
you have little equity now , if you gat any that would be great, but i would dump for a break even and walk ans still be happy. I know next time this year you have all of nothing as far as equity.
http://www.breakingbubble.com/index.htm
2006-10-08 10:45:25 · answer #8 · answered by Anonymous · 0⤊ 0⤋
keep your house..it would just give u more stress in getting a new/ cheaper one
2006-10-08 10:13:00 · answer #9 · answered by sabrina 2 · 0⤊ 0⤋
i would asap.
2006-10-08 10:00:04 · answer #10 · answered by say2joe 3 · 0⤊ 0⤋