From Georgetown, SC comes a question in Zillow Advice by stepdad who asks:
Should I sell now at a loss to be able to take advantage of rates and lower priced homes?
“I purchased a 1999 manufactured home on 1 acre in 2007 for $83,500. It appraised at $91,000. It had no landscaping and the lot was grown over. I have added 1,600 sq ft. 2 car carport, work shop, covered porch, etc. I have put over $23,000 in as well as landscaped, etc. It just appraised for $101,000. Should I sell now or wait. I want to take advantage of the low interest rates and home prices to get into a stick built home. At any time a hurricane could wipe it all out since I live on the coast. I have had it FSBO for 1 month at $105,000 now and only one offer at $102,000. Any advice? Thanks.”
Most shared the same sensibilities: Take the money and run!
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Should I Sell Now at a Loss to Take Advantage of Low Rates and Lower-Priced Homes?
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