2 Questions for Experts

We are getting close to putting our place on the market. It's really about getting our place ready and getting the rest of our shite together.

As it stands, best case scenario-- we will be able to sell for $20k less than our mortgage. What happens with that extra money we lose-- is that just factored into our closing costs??

My second question is-- We have been told by 2 different real estate agents that we should sell NOW, as opposed to waiting until let's say, a year from now because prices may drop and there has been some good activity recently. We are taking a big loss on this place and will lose a lot of money if we sell now-- but, I guess we could stand to lose even more if we wait. If we do decide to wait another 18 months for example-- are they predicting prices to rise-- or will the downward spiral just continue?

Re: 2 Questions for Experts

I am NO expert but a lot of the buzz I have heard is that the "cheap" money is drying up. Interest rates will be on the rise so your pool of buyers is going to get much smaller. I think it is good advice to sell now. Also if you price it fairly, you never know people could get into a bidding war

Re: 2 Questions for Experts

oy-- all of this is giving me such anxiety!!!!

And DH has not helped me at all with any of this as he has been very busy at work-- and I feel time is a wasting!!!!!!!