Quote:
Originally Posted by TrudyM
If prices don't come back hubby will be working until we croak. A 25% hit is a huge chunk of money I can't afford to loose. My husband and I were both working when we sunk our savings into this "real deal" fixer in 2006 in an affluent suburb of Seattle. I was laid off in 2008 and if the market doesn't come back we are sunk but good. What is moving here is the stuff on the low end (500-550) a lot of which are apartments and small 3 bedroom 50's ranches and then 1.2 mil and up houses with view and all high end perks like shared dock and waterfront. The 3000 sq ft family houses are just sitting. (850 thou range) Everyone is telling me I need to finish the upgrades and add alot more square footage to get to the over a mil level but I am afraid it is throwing good money after bad.
Sorry if I am complaining I know I am alot better off than alot of people it is just I feel like it is all out of control. I just figure no matter what I do I will be wrong. I am a number cruncher and things are not following any pattern that makes sence and it is freaking me out.
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We upgraded our kitchen and finished our basement. When we put our house on the market, the realtor told us we could not expect to get the money back that we put into upgrades, but our house would sell faster. She was right. We sold our house within 2 weeks, but certainly did not get back the upgrade moneys. Good luck.