The market, and especially the buyers in it, don't care what you paid for your house or how much you have into it. If you purchased in 2004 - 2007 in northern Michigan and are trying to sell now without doing some major upgrades, you're going to take a hit. Roll your head a little bit when it comes at you and it will soften the blow. The other common one we see is when a seller overbuilt their home for the area. If every home around you is 1,500 square feet and you chose to build a 4,000 square foot palace with marble floors and Viking range, you're going to take a hit. I hope you enjoyed your time there because it's going to hurt financially when you have to sell. Regardless of how you found yourself in the position that your home is under water (you're not alone by the way), it's simply no longer worth what you thought it was going to be. Come to terms with it emotionally and make your financial plans around that cold hard fact.
No comments:
Post a Comment