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Thinking of listing my home

1,562 Views | 11 Replies | Last: 6 yr ago by _lefraud_
_lefraud_
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AG
Don't need or have to sell, but will look to upgrade in a year or two, and wondering if listing now is a bad idea?
Prices have increased every year for three years, but with the age/condition of our home, I just don't ever see getting more than what it could probably bring now. I like the idea of being flexible with not owning a home, whether that's in a year or 18 months from now.

Obviously, prices could continue to rise, with rates not increasing, but I just feel like if I could make X dollars now, or in the next six months, then I feel like it will have been a successful investment.

Finding a place to live if it did sell wouldn't be a problem, as there would be a few different options (wouldn't look to buy right away).

Soooo, if I'm satisfied getting X amount now, should I?
AggiePlaya
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AG
It's kind of like owning a stock that has really shot up tremendously...do you hold for more? Do you lock in your gains? Always a tough call

Sounds like you know there is only so much upward potential for your home, so if that is true you are smart to consider cashing in "at the top"
aggie appraiser
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What are the tax implications of selling and not buying another home?
jjdavis85
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AG
Where are you located?
agdx88
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AG
I fail to see the cash out the equity thought process. When moving costs can range 8-10% or higher by the time you pay realtor fees, other closing costs and moving expenses as well as closing costs on the buy side. Not to mention all the costs associated with redecorating the new house, window coverings etc.

In your case you look to be upgrading, but you'll end up with two sets of moving expenses and how does that compare to the potential increase in equity and value over that period.
_lefraud_
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AG
If we sold our home, we would rent and likely move into a cheap rental until we decide how we want to upgrade, build, etc. Just through word of mouth, we have some people interested, so we wouldn't necessarily have to list through an agent.

We most definitely will look to sell within the next 12 months, so we were really just curious more than anything. Yes moving would suck, but it would suck even more if this hot market cooled.

Again, we think we could get X on it now, and just have a hard time believing we could get more than that without putting more money into the house. I guess I would rather try and sell now, and not wait until we HAVE to sell, if that makes sense.
_lefraud_
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AG
DFW
evestor1
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I think selling and renting is a good idea for some. My buddy just did it...cashed out 70k profit plus his principle.

He is now renting for under 2k per month on month to month and relaxing while looking for a new one. He even got a pool at the rental. It looks very relaxing compared to buying and selling!
dpryor
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AG
I am an Aggie Realtor based in DFW. I would be happy to discuss at length with you offline. Here is my contact info:

Doug Pryor
REALTOR
JP & Associates REALTORS
817-307-0987
dougpryorREALTOR@gmail.com[url=http://www.dougpryorREALTOR.com][/url]
http://www.dougpryorREALTOR.com


dmweaver-realtor
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AG
I'm a realtor in DFW, class of '91. I'd be happy to talk with you about the implications of selling vs. waiting. You also need to consider the interest rates you may be paying in two years. They've been historically low forever but starting to creep. Weighing that with the current market trends will help you settle on the solution.

Dawn Weaver
Dave Perry-Miller Real Estate
214-775-0611 cell
Bonfire1996
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AG
_lefraud_ said:

Don't need or have to sell, but will look to upgrade in a year or two, and wondering if listing now is a bad idea?
Prices have increased every year for three years, but with the age/condition of our home, I just don't ever see getting more than what it could probably bring now. I like the idea of being flexible with not owning a home, whether that's in a year or 18 months from now.

Obviously, prices could continue to rise, with rates not increasing, but I just feel like if I could make X dollars now, or in the next six months, then I feel like it will have been a successful investment.

Finding a place to live if it did sell wouldn't be a problem, as there would be a few different options (wouldn't look to buy right away).

Soooo, if I'm satisfied getting X amount now, should I?
My across the street neighbor (Frisco) did that four years ago. They thought the market would cool off and wanted to cash out, wait two years, then buy back in. Sold their 3,600 sf house for right at $105 per foot.

The house has since sold again for $118 per foot 16 months ago, and comps are now selling for $130 per foot in our neighborhood. My former neighbors are still renting, waiting for the market to come down.

I am in homebuilding supply and I think that selling right now is not a good idea unless you are moving municipalities to a more emerging area. You are redefining your cost basis into a realm that the DFW market isn't used to. Everything has always been closely tied to a replacement cost value in DFW. Right now, and in the near future, there is a lot of "fluff" priced in based upon a lack of supply. Supply that will eventually get caught up and inflated. DFW isn't like geographic areas like California or Florida that have land issues that can support inflated dirt values. DFW doesn't lack available dirt to build on as ample land is just waiting to be developed to built upon.

We are forecasting growing demand for housing for at least the next 18 months. 18 months is as far as we forecast. We have been at 18 months for the past four years. That's to say if we could look out further, we would likely forecast growth further. Too much pent up demand, rates are low enough to foster demand growth, and too many people moving to the area to factor in a slowdown, especially considering we can't build enough units as it is today.
DallasAggie0
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My dad is a residential subdivision developer in Collin County and he think's we've got about 6 years left before the demand starts to falter. He's constantly getting requests for new lots.

About to break ground on about 850 new lots near 380 and he typically has them sold before he starts to develop.
_lefraud_
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AG
Appreciate all the responses. If, and when we do buy or build, it won't be in the metroplex. At tops, I only see us being in the metroplex for another 24 months.
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