The awful truth has been sloshing about in my mind for the past week, like a bowl of runny oatmeal. Consistent with many of our most recent ventures, this too was a long shot and we pretty much knew that going in, but we let our high hopes enslave our common sense.
So here is the awful truth: We won't be selling or buying a new house this year.
Darn it.
And not your "aw, shucks" sort of darn it, but more of a tearfully melancholy, my-hopes-and-dreams-have-ultimately-been-shattered sort of darn it.
Last week, we met with two Realtors who gave similar and bleak presentations as to the market in our area.
Even though we're not upside down in the value of our home (whew!), enough of our neighbors were/are and their foreclosed homes are CRUSHING TO DEATH the possibility of the rest of us selling our homes for what they're worth, or what we still owe, just to break even.
But you can still rent out your house.
That's what you're thinking, right?
(sigh) If only it was that easy.
Because here is dream crusher #2:
Those homeowners whose homes are being foreclosed on are making a profit in the interim, before the bank seizes the house, by renting out their foreclosed homes for a couple hundred a month. This is apparently a very common practice in our area.
How can responsible people like us compete with that?
(hopelessly shrugs) We can't.
So renting is off the table.
This little house that we built nearly 8 years ago, our "5-year plan" house as we called it way back when, is just going to have to do for few more years until the market picks up again.
Realistically, it may become our "10 year plan."
And we're going to make it work!!
Starting with hardwood floors, some fresh paint and a lot of elbow grease.
