Understanding equity loss/profit you have to determine some of the cost to sell, lose, or keep in the options you have available. If you don't have the tools to create a deal then you might need to contact an investor in the area so you can sell now before values fall even more.

You could probably contact an accountant and attorney get figured out the questions you have after you have something to show them. Having numbers and proper paperwork will make you feel good about the deal.

Hi Alex,
I understand your concern about losing more equity....
You really need to think about owning a home in a different way, what you are talking about at this point is assumed equity.... the real equity in your home is once it actually sells the price the ready and willing buyer is actually ready and willing to pay for it (in most cases less than what the sellers think by themselves, a good area Realtor will be able to present you 3 months old comps that are similar to your property and the 300 K may or may not be true....
But the true equity is the net to seller, once you have paid all your closing expenses and taxes etc.

And then what.....The move will cost you both ways, and a new application for a mortgage loan and finding the right new place and then will you actually hit the right property at the right time to buy really reallly below value, what it is that you are thinking.

A Realtor who can have a look at your property and who can see the condition and upgrades will be able to make a suggestion as to whether you are better of staying in the property, updating it slowly and the market will go back up at some point.

But Sellers always have different reasons for selling, and since we are not sure here that we know all of yours.... You must discuss it in detail with an overview of the market situation in your area and only within the last few months and then make an educated decision.

It will possibly help if you look at your property as a home and not a money making investment.

Just trying to have you look at it from different angles.
Good Luck
If you need a referral for a good Realtor in your area let me know and I will refer a trusted Realtor colleague to you.
Edith
edithsellshomes@gmail.com

First question, how do you know you can sell for $300,000. This number came from were?
You have a recent CMA, and or Appraisals? Less than 90 days old??

So lets assume the $300,000 number is TRUE and fact.

To make such sale you are going to have - say 8 % costs ( $24,000)

then you have to move

cost what $10,000?
so now you have a cost of 34,000 AND NET OF $2

66,000.

NOW, WHEN DO YOU BUY?

Do prices go up or down?

What is the cost to buy- what 10 or 20 % of cost ( points, fees, moving, doc stamps)

another $20,000 $40,000 of costs?


and you gain what to make your family a unit?

these are just some to the questions

When - what point do price go down to rock bottom

2010- 2020?- NOW?

If you have a home, that home has utility - warm cool place that has place to bath, eat sleep.

While I am an Economist, I do not feel a home is as investment - it's a home were, hopefully
you build a family

The first and most important question is what can you *really* sell the home for. Is your price of $300k based on what other homes in your area are asking, or what sales have actually closed for? A quick check of your zip code shows almost 3,000 records with a lis pends filing (that's usually the first step in the foreclosure process). I don't have statistics on how any of those were foreclosures, but if the trend in your area is anything like the rest of the county, it's probably high. Your first step in answering your question is to get a realistic price analysis from an experienced Realtor in Miami, then discuss your options.

HI ALEX

I am a real estate broker and live in 33196. If you would like me to send you the most recent sales and houses are the market near you to help make a decision, just let me know, I would be happy to do so.

With kind regards

Janie

Hi Alex,
The answer to this question depends on what market your home is in. Some markets are slower to recover and some are already on the upswing. A good Realtor in your area will be able to tell you what the trends are for your market and help to advise you. That said, if you are in a precarious financial situation and that equity is available to you, then selling now is a good option. Remember that real estate is like stocks- to truly benefit you need to have and hold. Mandy Loftis

Speak with CPA however even in good times I sale investment properties once they hit the most I feel I can get out of home. Question ask yourself and CPA tax advantage you have following expenses selling a home:

Realtors fees up to 6% paid out closing
Taxes thru close date
Closing expenses
Repairs
Make ready of home

Can you take your earn equity make additional money upon closing .

Great question