[Boomer]

Hi conn8757,

Even though we are not planning to sell our home, I keep an eye on real estate trends. I have for a long time. I had a license in the early 80's, of all times! But I also had a day job that I could not, would not quit. The early 80's were a mess for housing.

The current mess I think is more complicated than the early 80's. I also think that because real estate values have taken pretty good care of so many of our generation over time, the current situation can become extremely difficult for some to accept.

I hope that you have owned your current home for many years so that you will be able to better get your head around the idea of what may seem to be such a low asking price. I hope you have a really good buffer. That will make pricing so much easier for you.

If I were in your situation, I would get that house on the market as soon as possible. Mortgage rates are going up. Not as fast as they did in the early 80's when they seemed to climb daily. But the rates are climbing. As I have watched real estate for more than 30 years, I have observed that as mortgage rates climb, house values decrease. I could not draw a graph for you or anything. But I am sure there is one out there somewhere. It's just the way it works. Most buyers are looking first at the house payment itself. It becomes, quite simply and as always, what the market will bear.

In your case, you are ready to get on with the next part of your life. Gear up to do that and just move forward. Price it right and you will sell faster than those who have no room in the price because they bought in at the top.

I really don't think the turnaround is coming as soon as early next year. And even though you will likely get less than you had hoped for your current home, you will buy on the low end, too. We did a downsize at the peak of the market. Of course, we bought the downsize at the peak. It's pretty tough to have it both ways when the market is running crazy like it did. When it's a downsize, it is not so much of an issue.

So anyway, to paraphrase that great philosopher Mick Jagger, at this point in our lives, "Time, time, time is NOT on our side."

So if I were you, I would just deal with what is now, and get on with it. It might not be much fun, but you could be in for a nice surprise, too. There are houses that are selling. Price it for the market.

I wish you the best. And just go get it.

Boomer