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Pastimes : Is a Real Estate Downturn Coming? -- Ignore unavailable to you. Want to Upgrade?

To: jonathan romanowsky who wrote (79)12/3/2001 6:33:57 PM
From: dave rose  Read Replies (2) | Respond to of 91
 
<<<There is a 3rd obvious one... sell. I can't see getting this one past the wife (with child coming) and inlaws.>>

That is my problem too. I would move in an instant to a rental but my wife won't let me. :-)
I have been thinking about selling the house with a 5 year lease clause in it. Live here 5 yrs, pay reasonable lease rate, then move out at the end. Don't know if this is a viable option as who would buy a single family house and not live in immediately.
regards



To: jonathan romanowsky who wrote (79)12/4/2001 3:05:07 PM
From: Tadsamillionaire  Respond to of 91
 
Why not option the current price of the home, or do a reverse mortgage at current value.???
The bad part of this is that if Realestate continues to increase over the next 5 years, you have sold the option of future value. If you do a reverse mortgage ,set up with a bank or Real estate investment firm, you must be prepared to move at the specified time.JMHO.
Check with a good Tax consultant, or your bank.


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