“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?




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.   


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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



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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


I read emotion as well; hopefully she will make some good choices going forward.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 3 months ago

Good morning Joe. It may be time for her to stop and regroup. Sell or stay? Can't do both the same time successfully! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 3 months ago