“Timing and being Priced Correctly”

  “Timing and being Priced Correctly”

 

 

 

 

 

Hi Joe. 

My house is on the market, but might or might not sell in the period, Connecticut being what it is.

I've got it listed for $379,000 with a friend, but if nothing happens by the end of August will probably drop the price by $10 K.

The current PITI on the 185,000 mortgage is $2300; there's a line of credit that is interest only at this point (80 bucks a month) on $28,000 balance.  So the total amount to refinance would be 213,000.  I'm carrying more credit card debt than is healthy because I started out with no savings from the divorce and had to repair the house to get it on the market.  I've stopped increasing the credit card balances as you advised, but it will take some time for them to really fall because most of my income goes toward the house.  Dick also gifted me a car payment of $550 a month.  I now have some cash savings and could pay that or one credit card off.

Am I wrong to think that refinancing/consolidating might make sense if I take the house off the market and just wait for real estate markets to improve?

Any advice?

D

 

 

Market conditions are forever changing and pricing a home incorrectly will only hurt the final price. Anytime emotions get in the way it usually takes longer to sell a home.

 

I could tell from reading the initial email there was a lot of emotion and that is especially true when a divorce is involved. Unfortunately, she did not take my recommendation for a Realtor in her area. Hopefully she will be successful sooner rather than later.   

 

Subscribe to my blog via Email:

 

Enter your email address:

Delivered by FeedBurner

 

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

Like me on facebookfollow me on twitterConnect with me on linkedin

Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 2 commentsJoe Petrowsky • August 02 2018 07:26PM
“Timing and being Priced Correctly”
share
“Timing and being Priced Correctly” Hi Joe. My house is on the market, but might or might not sell in the period, Connecticut being what it is. I've got it listed for $379, 000 with a friend, but if nothing happens by the end of August… more
“I need to get Better Connected”
share
“I need to get Better Connected” Three men were playing golf. The course was a wicked dogleg with a large water hazard. The first man stepped up to the tee and hit a sharp slice into the water hazard. He walked up to the water; it parted,… more
“Retire? What a Crazy Idea”
share
“Retire? What a Crazy Idea” Hey Joe, Seller said no to my offer… It's all good… That will give us a chance to get our house in order, purge some stuff, pay off some bills and save up for insurance, inspector and appraiser. Now, my… more
“Banker Partnerships are very Special”
share
“Banker Partnerships are very Special” Joe – I have you now on speed dial. Any loans I am unable to do with my bank they will all be sent to you, since we don’t do FHA, Reverse or any USDA loans. Beth It takes a lot of… more
“This Guy Understand Economics! ”
share
“This Guy Understand Economics! ” Five guys are stranded on an island. One guy gets the daily firewood, one guy bakes the daily bread, one guy climbs to the top of the mountain to get fresh water, one guy fishes all day to bring home dinner… more
“Are You Kidding Me Joe? ”
share
“Are You Kidding Me Joe? ” Are you kidding me Joe? That was my immediate response after you and I spoke. We had all but given up on the idea of owning a new home. I wish I could understand why no one else came up with the idea of refinancing… more
“Tough to Beat Experience”
share
“Tough to Beat Experience” I can assure you, I thought you were crazy when you told me that getting a refinance done for us was possible. It has been a couple of weeks and I am still pissed off that my wife and I did mortgage applications… more
“Happy Wife? ”
share
“Happy Wife? ” An 80-year old man was arrested for shop lifting. When he went before the judge in Cincinnati he asked him, "What did you steal? " He replied, "A can of peaches. " The judge then asked him why he had stolen… more
“I Love the Challenges”
share
“I Love the Challenges” I have been reading your blogs on Linkedin for a few months and my sense is that you like to take on challenges. I am a Realtor in New York state and have listed a property that literally has no comparable sales. The… more
“Terri’s Mansion”
share
“Terri’s Mansion” Mr. Petrowsky I can’t thank you enough for assisting me with the purchase of “my mansion”. It was a joyous weekend moving in to my fixer upper. The work to start the renovations will begin in a couple of days and… more