We've contacted a mortgage broker and as of this morning, have contacted realtors.
It's kind of mind-bending and nauseating to imagine that we're contemplating the home selling process during one of the WORST economic periods in this nation's history. We're not gamblers and this feels like a bit of a gamble, adventuring in uncharted territory for us.
Realtors have confided in us two things so far:
#1 Houses are not selling right now
#2 It's a buyer's market
Sounds contradictory, right?
I understand what they're saying, though.
Essentially it's not a seller's market and that's where the "nauseating"part of this whole endeavor comes in (or up. lol!).
Fortunatley, we've been discussing this very issue of late and are wrestling with the idea of
renting vs. selling.
Could we rent our house?
Do we want to deal with the headache of being landlords?
And what if we can't rent out our house right away,
we could be stuck with two mortgage payments and that would be rough...
So now that we've sent out the preliminary "feelers" and will be meeting with real estate professionals, we can *hopefully* get a better idea of where we'll be in a few months time:
- Selling our current home, buing a new house and living happily ever after,
- Renting our current home, buying a new house and living as landlords or
- Staying put
We don't plan on listing our house until spring so that will give us plenty of time to meet with and talk to the professionals and dazzle up our house should we decide to sell.
Wish us luck!
