Property Q&A in 94598>Question Details

Gee, Other/Just Looking in 94598

Would like to consider an even trade of our 5 BR home for a condo at the Mercer or Montecito.?

Asked by Gee, 94598 Thu Feb 5, 2009

We owe app. $648K on a Walnut Creek home valued @ $1 million. Our house is in the Northgate area and has app. 2700sq. ft., pool, spa, gas grill, etc. How does this work?
G&T

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3
I am trying to think about why you would want to do that. If your WC home is really worth 1 million in this market why not sell and have more flexibility. Mercer condos are not worth anywhere near what they were when sold new and there are only 2 for sale there now. I have one of them for sale there now listed for a full 200k less than she bought it for .
Web Reference: http://www.diablovalley.net
1 vote Thank Flag Link Thu Feb 5, 2009
Your question seems like trading in a car for a brand new one. Most people don't think about it, but it's really 2 TRANSACTIONS, the sale of your old car to the dealer and the purchase of a new car at the same dealer.

With that in mind, treat your situation as the same.
0 votes Thank Flag Link Thu Feb 5, 2009
Gee, do you want to list your home for sale, or are you looking to actually trade your home?

Best, Steve
0 votes Thank Flag Link Thu Feb 5, 2009
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