Rent or Sell?? Markets crashed what would you do?

So I was going to take it off the market.
Do a huge amount of renovations on it, and split it into 3 houses.

I will live on the ground floor, and rent out the garage (which I will turn into a duplex flat) and the top floor to someone else..

the renovations will set me back quite a bit.

Is it worth it? or should I just wait and sell it later..

Large houses arent selling as high these days. But if your price range is within redrecent sold comps in your area just be patient. Check the market yourself and talk ask your realtor. That's their job.

Its normal to take years to sell.

Lower price if you want to sell within months.

Many Thanks! I have the time. A lot of fear going around about the housing bubble and its just going to get worse..
Having it viewed twice a week for this long is really depressing.

I appreciate the feedback!

Trying to rent all or even part of a house such as you describe is inviting horror stories. Keep the house, find other things to do for the next six years, and see what the world looks like five or six years down the road. And take the house off the market.

We assume it’s NOT in California as any house there would, as I personally see, an increase in values year to year.

Sell it while you can. The Trump bubble is about to pop.

Thanks,
The kids have all moved out long ago, so its just lonely ole me in such a big place. I wanted to sell so I could find a smaller place, and perhaps help my kids out. Renting does seem scary to me I have never done it and really don't need the stress, but no way I will except the crazy offers I've been getting. So it was kind of making sense to rent. Its inner city in pretty well to do neighborhood. not that large, but I could easily split it into 3 places as many others have done on my street.

There is more than a crash a collapse coming the apocalypse is seconds away from starting and once it does there is no going back.


The only way to survive is to do what we need to do to enter the new world that is about to start opening up to us. The old one is like a train crashing into a mountain a ship hitting into an iceburg the men at the helm see it know they can't stop it only care about saving their own asses little do they know they aren't even going to be able to do that they are that ill-equipped to handle what is about ot be unleashed.


My point is the the physical survival aspect of life is nothing compared to what is about to happen. It is obviously necessary to consider this but by believing this is all there is you are missing 99.9% of pretty much everything else which puts you in a very serious and dangerous situation. I tell you this because if it were up to me we would all be entering into this period of time with eyes wide open right now everybody's eyes are pretty much closed we are blind and lost. When you have a home and the money to pay for it but the devil has turned every single thing that is going on inside of that home into hell on earth it ain't going to matter what you got. You may as you look out into the world see the man without a home not having to deal with this kind of thing wish you were him. The entire world is about to be turned into evil of some kind except for the parts of this world that are in the process of being liberated from the devil's hold. Money will not fucking save you from this to worry about money the things money are going to buy us when it comes to what we need means we are refusing to see all of the other things that are staring right back at us including the devil himself. his face.

Yes, people get a bit put off by the old style of the bathrooms, (that 80's peach) everyone wants these ugly sterile grey bathrooms. The location is gold, its more the old style of the place, (which I actually really like!)

So the realtors are suggesting a pay a small fortune to renovate if I want to sell it for the price I am asking :(

Not buying until the next market correction. No way.

What is really troubling is all the flippers who are carrying mortgages on multiple properties and only making like $250 on each after the mortgage is paid. What the hell are those people thinking?

I know someone who sold their home in 2 weeks so it depends on where you live. I've heard no complaints from my real estate friend here in NE Ohio.

I'd spruce the place up and keep it on the market. I've heard some real horror stories about renters. Could be a crap shoot.

Any second now as the apocalypse begins the devil along with his army of demons beasts creatures are going to be unleashed onto this world they are no longer going to be able to hide. This has up until this point been hiding you see? IN PEOPLE. young old children adults women and men. This could be your child your neighbor your priest your boss. This is the threat we need to be aware of NOBODY will even look at or talk about this let alone do anything about it. Any second now NOTHING is going to be able to hide. If the child you brought into this world has a soul that is black he is going to turn evil and wicked under the devil's control completely. MONEY will not save you from this. When this is what your world turns into you are not even going to want to eat let alone worry about food you will be beyond sick beyond anything we can emotionally comprehend at this point what is about to happen as the truth about this world is revealed is that unprecedented. You won't even care about your home anymore you see? When your wife turns into a rabid beast your child into a demon child all under the control of the devil himself. And you can't snap them out of it his hold on this world is currently that strong. This is why the Mayans have tried to reach people when it comes to how important our mind is right now. Our emotional state. The spirit of man it runs through it and us all of this.

There are people who are intentionally by the way trying to keep you distracted here with this knowing damn well what is about to happen so you are not prepared.


They thank you for trusting in lies and bullshit. This world is about to pay the ultimate price for it. CAUSE NOBODY listened to the people who truly care about this world. YOU. More than you do. You listen to people who have you caring about fucking money! All of it is about to go poof like the atomic bomb hitting a huge city in an instant it is going to be gone. And the wise people of this world will be breathing a sigh of relief saying thank god this nightmare is over. An insane world that loves not life but money. As the money hungry grubs sit here probably til the day they die like children stomping their feet or worse yet find a bridge to jump off cause all of their money is gone.

The wife and I were going to buy a house this year.

Fuck that. Something is about to happen.

All you idiots with Mortgages, good luck.

Right now if you own multiple properties it is a good time to sell. Housing has 6-18 months before it sees a heavy down turn and coupled with our Chinese trade war which will bring price inflation to the market and when price inflation arrives the fed will up it's interest rates which will further push down an already heavily inflated housing bubble which is now larger and more expensive then it was during the last crash.

I've got my house paid off in full and a few hundred thousands in the bank and I am squirreling away money for when this next crash happens so I can buy our forever home. I plan on just eating the difference in the resale of our current house since I have no intentions of ever renting again in my life

We're at the peak of the bubble. You should sell. If it's been on the market this long, especially now that rates have turned to a lower favorable level, it means your price is too high.

What city/state?

so renting is horror story? nobody has any good news on the renting side.
I own my house

^^THIS^^

Also, if it's the family home that you've owned for 20 or 30 years, you're going to do well at any price.

You need to come back to reality and give it a proper price drop and it will sell.

You want it to sell BEFORE the current bubble bursts, because then you won't be ABLE to sell.

Last Edited by Deplorable Doomfan45 on 05/25/2019 10:55 AM

Your a moron. It sounds like the OP needs a good RE agent.

I don’t know houses that were selling in the $650-$700,000 range in 2013 are now selling for $1.3 million here it’s a ridiculous bubble buying at these highs for most homes. The real estate market doesn’t have much life left before it pulls back especially at these prices when the market contracts real estate is going to slash these prices by at least a third

Sixty to 70 year old baby boomers are unloading big houses right now, and the generation after baby boomers -- Gen X is much smaller-- so there are just less buyers right now-- which translates into lower prices. You will have to wait about 5-7 years before the Millennials (the very large generation which came after gen x) begin to purchase larger houses for their kids-- at which point they may bid the prices back up. I would rent it out to urban millennial professionals-- maybe split it into two units-- and ask for three months up front ( one month security, first and last month rent.) This screens out deadbeats with no money. But check out the eviction and tenant laws before you do this. In my very affluent area outside of NYC, expensive suburban houses are selling for less than they did in 2001-- partly because of the Trump tax law changes which limits deductions for real estate taxes paid, although I think that should only have created a small reduction in prices, since $10,000 in real estate tax paid is still deductible.

But, some luxury houses are now selling for less than it would cost to build them-- at 1987 level prices.

The market is just bad right now-- thanks in part to Trumps tax changes regarding deductibility of real estate taxes, and in part due to mass retirement of baby boomers (i.e. demographics).

If the asset bubble pops that is the foundation of the dollar itself................................asset prices. The lofty asset prices are leveraged to support the dollar. If the assets depreciate the ratio goes up on its own through 2nd grade math.

This makes sense to me! Thanks to everyone for there input!
All points are very interesting.

Are your property taxes high? How about your insurance.

If you own the home clear of a mortgage, I would consider it simply a place to live and not an investment.

If you are trying to use it as a piggy bank, good luck in the times ahead.

Yes quite high!

I also intend to retire soon.

The house is to big for me.

How much are you relying on the sale of your house to fund a portion of your retirement?

Ive worked hard my whole life so im not poor.

Its really my kids im thinking about.

Ah, I can definitionally understand that. I agree with a lot of the other opinions here, real estate is in a bubble that doesn't have much time left. The median house price is still increasing but sales are starting to collapse, people are still asking too much for their houses while buyers are drying up. Like the coyote that ran over the cliff not realizing there is no ground underneath.

If you could, I would reduce the price and rent for a while to see what happens over the next 12-18 months. They may be able to hold this together until after the elections, but things are getting interesting fast.

good luck to you

With Christ as always.

Lower the price, jump ship, and be free. Renting your house out would not be fun and further investing and renovating a property you want out of does not make sense.