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Selling our first house? What would you do?
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martin
Posted 12/2/2010 09:24 (#1464635 - in reply to #1463985)
Subject: RE: Selling our first house? What would you do?


I am no expert on these matters, so you can take my thoughts for exactly what you paid for them. However.......

my thinking is that a mobile home depreciates, not appreciates. Take a look at how old it is.... at what point does the value of the mobile home depreciate to "zero"? Maybe it would be a good idea to have a realtor give you a value on the land only.  What could you sell a vacant lot, with utilities, for?  Maybe if you advertised it as a vacant lot, where someone could build their dream home, and you take care of getting rid of the mobile home..... I'd say that is an option to explore.  Take a look at this angle and see how it looks, compared to selling it at a $14,000 "loss", or even a $9,000 "loss".  Around here, I would say a 5-acre lot is a very large lot, and, around here, the lot would be worth more than the mobile home.  At least I would think so. That is why I would advocate looking at this angle.  However, I realize this is a regional thing,  so your circumstances might be different. 

At the end of the day, if you can get rid of a headache, you might be further ahead taking the $14,000 loss and dealing with it.  The other thought that goes thru my mind is this economy......  what do you expect the economy to do in the future?  IF the economy will improve,  the value of this home might improve and if you sit on it for 1-2 years, you might get what you want down the road. If this economy does not improve,  you might be just as far ahead to take your losses down and deal with them.   And I doubt if too many people can look 2 years into the future and answer that question for you. So, you might have to "take a stab at the future" and make a decision from there.

Again, my thoughts..... and they are worth what you paid.

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