Saturday, November 15, 2008

danger: heartbreak dead ahead

victims of the real estate market...

Jerry and I own two townhouses, the one where we live and the one where we used to live, which is about five blocks away. The latter property we were renting, until our tenant moved to Atlanta a few months ago. We decided to not rent it again, to sell it instead. It's still on the market. Nobody is buying.

Which means we have been paying double mortgage payments with no rental income, this at a time when Jerry's income is down dramatically (he's a real estate agent -- a double whammy!) and mine is not up.

So we have made a drastic decision. We have put the house where are living on the market also and will live in the one that isn't the first to sell.

The problem is that we fear we will sell where we are living first -- it is the more desirable of the two properties -- and we love this house.

I realize that, in these days of foreclosures and job losses, people are going through much more traumatic things than this, but that won't stop me from shedding tears if we have to leave this, the best house I've ever lived in or will ever live in.


muse said...

I have been living pretty close to the cuff the last 8 months. Looks like a loss of 42% in retirement funds thus far.

Thoughts of a new car are dancing in my head. Deals are out there to be made-my car is 10 years old-hate the thought of a car payment-but things are not as bad here economically as they could be and for that I am thankful.

I dread that property taxes will be going up again this year. Hell, I just hate property taxes!

Sorry to hear of you having to move...remember you found the perfect place can find it again. Luck to you.

Howard said...

thanks, Muse... We are getting a lot more showings at the "other" house, the one we really want to sell -- so am hoping for the best!.. I guess things turn out the way they're meant to.

i hear you about property taxes -- ours just went up 20%!.. but you at least live in a no-state-income-tax state!

what kind of car are you thinking of getting?.. i'd be a little nervous right now about getting a domestic make. what are you driving now?