You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- to sell or not to sell
Buying or Selling a Home/to sell or not to sell
Advertisement
Question
We have a rent house in Humble texas, 3-3-2. We owe $8400, pay about
$250/monthly on the balance, worth about 80k. We are losing money each
year, because it does not stay rented the entire 12 months, and we use some
of the income to pay our current house note. So we are considering selling it.
We also, have recently adopted 2 children, and our current home has gotten
small real fast. It is a 4-2-2. however it needs about 3k in work to be ready
to sell. We are not able to afford more than what we are paying now in a
house note. So we would have to sell the rent house, to help us out. But we
don't know if it is a good decision. What do you think we should do?
Hello Christy;
Was that a typo or do you really only owe $8400 on the house. If so, I don't know why you are paying so much per month. I think that you could try to refinance to lower your monthly payments. If that is out of the question then selling may be your only option, but since this is not the best time to sell I would try to hang on until your area picks back up. I have no way of knowing how homes are selling in your particular area so I suggest that you speak with a real estate broker to get an idea of the market and what prices are like before you decide what to do.
Best wishes,
Jessica Bryan
Related Articles
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
©2012 About.com, a part of The New York Times Company. All rights reserved.