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Real Estate
Reply to "Anyone Sell Recently for Less than or Marginally More than you Paid?"
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[quote=Anonymous]We just sold our condo in N. Arlington for $15k less than we paid for it in 2007. If you count the $15k for new flooring, new counters and new appliances, the $4k we had to spend on the bathroom when we had a leak, and the $2k we spent on improvements to get the place ready to sell (new bathroom sink, paint, removing some old tile and patching the wall, etc.), we lost close to $40k. But it would take us another couple years to make that money back if we waited to sell (based on the rate at which prices are rising in our complex), and by then there will be even more brand new luxury condos in our neighborhood, and home prices would also be a lot higher. Plus our 800 sq ft condo was getting really tight for the four of us. When all is said and done, we left the settlement table with $19k -- not even enough for a downpayment on anything in the area. It's depressing.[/quote]
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