Posts from November 8th, 2010
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8
Should You Move or Improve?
Whether to move or improve is a harder question to answer than it was a few years ago, but a few cost-benefit calculations can help you make the right decision. Moving has gotten harder. With median housing prices down 25% since their peak in 2006, some 15 million homeowners—almost one in four—owe more on their mortgages than they could get from a buyer, according to Celia Chen, senior director of Moody's Economy.com. And even folks who bought before the big run-up and can afford to sell at today's lower prices still face steep odds trying to unload their homes with the glut of inventory on the market (36% more lawns wear For Sale signs now than a few years ago). There was an uptick in units sold in early 2009, leading some economists to predict that the market has begun to rebound, but selling a house is likely going to remain difficult for a while. Still, there can be an advantage to trading...
