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Subject: Will this affect me?
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just a girlUser is Offline

Posts:202


07/16/2008 2:04 PM Alert 

I came home yesterday from running errands to find that the houses on both sides of me have entered foreclosure proceedings (there were notices of trustee sales taped to the front of the house)

 

will this hurt my chances of ever selling my house in the future?  i know i can't sell for a decent price now, but say in a year or so (under perfect conditions) if the market improves?  or if we get the job transfer that we are hoping for?

trosalesUser is Offline

Posts:42


07/16/2008 3:12 PM Alert 

It will certainly decrease the odds of your home selling if they are still on the market in a year. It will also lower the value of your property if the homes are listed for less than what your home might be worth. It's difficult to say what a year may bring but if the trend continues, it will not be good. Now is a great time to buy because prices are so low and the word is getting out. This could bring some relief to property values in the future but if it is a year or 2 from now is anybody's guess.

LeonPotterUser is Offline

Posts:451

07/16/2008 7:03 PM Alert 
Posted By just a girl on 07/16/2008 2:04 PM

I came home yesterday from running errands to find that the houses on both sides of me have entered foreclosure proceedings (there were notices of trustee sales taped to the front of the house)

 

will this hurt my chances of ever selling my house in the future?  i know i can't sell for a decent price now, but say in a year or so (under perfect conditions) if the market improves?  or if we get the job transfer that we are hoping for?

The answer is maybe. No one knows what will come next year. Things could be better and you could still have trouble selling. Things could seem slow and yours could go quickly for a higher price.

All depends on factors, we won't know until then.


You may remember this from the original 85239:
Proverbs 22:7
The rich ruleth over the poor and the borrower is servant to the lender.
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