Retirement and home selling
There are quite a few Michigan home owners that were hoping that their homes were going to help fund their retirement. With the mortgage meltdown and the free fall in home prices that has hurt many a retiree or future retiree’s retirement plans. So what do you do? Do you wait it out and wait until prices come back? Home prices are on the rise. Slowly they are moving up in price. But how many years will it take to get back to 2006 prices. My answer to that is that it took 15 years in a good to great economy to reach those high price levels. So how many years will it take in a lackluster economy? Nobody knows how fast Michigan home prices will rise. I have seen many home prices close when I thought the real estate agent was out of their mind. Homes are selling and appraising at some of these high prices. My thoughts are…..if you are retiring and can sell your home for more than what you owe on it. You may consider selling it and getting on with your life. Or you could waste your life and wait for the market to come back. I say move and enjoy life where you want to be. I have just heard too many stories of people retiring and then dying before they ever get to enjoy their life. Buying Metro Detroit HUD homes
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