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Home Selling in 21208 : Real Estate Advice

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Mon Mar 10, 2008
Keith Sorem answered:
Real estate is not like owning stocks or bonds. It is not designed to be bought and sold often due to the complextity and expense of a real estate transaction.

If I were counseling you I would ask what you want to accomplish by selling? What alternatives do you have to selling? If selling is the only option, what amount of net is acceptable to you? What happens if you are unable to sell for the price that we yield that net?

Real estate is an excellent LONG TERM investment. I would sit down with a Realtor and run some different options, including::
1. Sell and get out
2. Postpone selling
3. Rent it and keep it as a long term investment.
There are tax and personal consequences to each option. Make sure that you understand the likely results. Being an "accidental" real estste investort happened to me and it was a great experience and changed my life.
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