Friday, July 2, 2010

backstory: May 7

Realtor came by last night. Basically, our houses aren't worth near what we thought they were. Too many foreclosures in our neighborhood. Great.

I've decided this is what stinks about real estate. So, right now, because the market is down in our area, we can get some really good deals on what we want. But that also means that we won't get crap for our house.

The realtor said our best bet is to buy, and to rent out both of our houses until the market picks up. If the bank tells us we need to sell one in order to buy, then we need to sell what is currently our rental property, as it has more equity in it.

So the next step is to meet with a lender and see what they say.

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