On 2008-05-28 16:30:47 -0700, dumbstruck <dumbstruc[at]gmail.com> said:

- quote -

You might consider keeping the old house and renting it to tenants for
some period of time until the market picks up again and then maybe even
sell it at a higher price than you could get now.

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dumbstruck wrote:
- quote -

I don't see where your question has anything directly to do with "the
housing crises". At *any* time that you are trying to both sell and
buy, you are probably going to be in the driver's seat on one side of
the transaction and hoping against hope on the other.

Search the archives of this group for the usual ideas -- bridge loans,
lease-option, and so on. Just as the home you might buy has come down
in price out of "desperation", so you too will be able to sell your home
in short order if you price it appropriately.

Do it if it makes sense. The only people guaranteed to make money on
the deal are the realty agents and mortgage brokers. Contrary to John's
post, why not make an offer contingent on sale of your home? The real
estate agent has a fiduciary duty to present the offer, what does it
cost you?

-Mark Bole

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On May 28, 11:03*pm, "John A. Weeks III" <j...[at]johnweeks.com> wrote:
- quote -


"This market" is a buyers' market.

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On May 28, 7:30*pm, dumbstruck <dumbst...[at]gmail.com> wrote:
- quote -

sell house A before putting any money into house B.

This means you rent between A and B, or work with buyer of A or seller
of B on the timing.

"Opportunity"=investment of some sort. This example would be why real
estate is really not a good investment- the liquidity in this case
hurts you when selling house A.

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On May 28, 6:30*pm, dumbstruck <dumbst...[at]gmail.com> wrote:
- quote -

that is frightening, then stay away. It it is tolerable then talk to
a realtor to better understand the risk. You current house may be
saleable in a reasonable time.

Frank

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In article
<77ec8014-5a31-42eb-bca2-21b433a8dc1d[at]p25g2000hsf.googlegroups.com> ,
Ron Peterson <ron[at]shell.core.com> wrote:

- quote -

You can also make the offer contingent on winning the lottery.
In this market, making a sale contingent on selling a house is
pretty much the same as saying that you are not serious about
the purchase, and that you might come back with the money a
year later. No seller that has any choice is going to stand
for that.

-john-

--
================================================== ====================
John A. Weeks III * * * * * 612-720-2854 * * * * * *john[at]johnweeks.com
Newave Communications * * * * * * * * * * * * http://www.johnweeks.com
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On May 28, 6:30*pm, dumbstruck <dumbst...[at]gmail.com> wrote:
- quote -

You can make an offer contingent on the sale of your house.

--
Ron

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What if the housing crises gives you a tempting opportunity? A dream
home becomes available, and in desperation the price even drops to
affordable levels. But it is very uncertain that you can sell your
home in timely fashion in order to get it. What is the financially
prudent approach... just ignore the opportunity because the crises is
a two edged sword?

A problem is that all motivation to move vanishes if that one target
house is snapped up. So it's hard to justify a lot of typical slow
processes - decisiveness seems the thing! It's not absolutely needed
to get money out of the old house right away although it would be
extremely preferable. Assume no loan problems, but just wanting to be
financially responsible, avoiding pitfalls like falling out of the cap
gain timeframes, but taking advantage of any unconventional methods
suitable for unusual times... tks

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