$ell now or later??

[New_Natural_Mom]

There are many reasons I want to sell our house. It has been our plan to sell this year since before the market tanked. We want to sell & move into something cheaper that can be managed on 1 income. If we wait until 2011 my student loans will be coming due & we just couldn't swing it. My DH doesn't want to sell anymore b/c we will only get maybe $24k after it is all said & done. He thinks we will lose too much, and regardless of new lowe payments will be behind. I say if we leave with at least as much as we put in (and I think we will) we will be better off wirh a lower payment, etc.

How can I convince him we need to try to sell this summer? I know it is the right thing to do.

[velochic]

How long have you been in your house? Without any other information, I'm kinda leaning toward your dh's side.

[njsummer01]

There are so many variables here and I don't have time for a lengthy response. I know in my area (I used to work in real estate), home sales are still quite strong. In almost every case, it costs you nothing to list a property for sale, so you wouldn't lose anything by trying the market to see what price you can get. A good agent will sit down with you for free and go through all the possibilities.

It's so nice to be securely in a home on one income. That kind of security can be worth so much!

Good Luck!

[New_Natural_Mom]

We've been here for 7 years. The thing is, there is no way we can stay here until the market comes back completely (if it ever will.) Our current financial is unsustainable over the long term with this mortgage & there are some very good reasons to sell soon - costly potential repairs we don't want to make, etc.

[mattemma04]

Sometimes a loss or making even is worth it.You will also be getting a deal with any home you buy.My dh is similar though in that he wants to get back every penny he puts into our home and then some. I would be happy to sell at a loss and find a cheaper home with less issues.Why stay in a money pit hoping the value will go up is my thought.

I would put it on the market and also look for what you can buy.List the pros/cons of staying and/or selling. If you know you can not make it much longer it is better to sell when your are stable than to wait till you are at the verge of forclosure.If you wait and things go bad you might end up having to sell for way less,or completely losing everything.