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What Should You Do With Your Homes If There Is A Double Dip Recession?

By Chandler Man on 08/21/2010 – 7:55 am PDTLeave a Comment

Many economists are predicting the recession could double dip and home values could drop an additional 20%. These economists are saying that we won’t see the housing market improve for another two years. If this decline really happens, what is the best thing you can do with real estate you own? Should you try and sell properties now, or hang on to real estate investments until the economy recovers?

Every situation is different, and there is no crystal ball that will accuratelly tell us what the future will hold. If you’re confident you want to have your Edinboro Homes for a long time, then by all means keep them. Home prices may go down temporarily, but they will eventually rise again. Perhaps you should ask your self, “Will I continue to happy with my current living arrangement”? and What is my goal with this investment property?

If you like where you currently live, then you ned to remember that the primary purpose of a house is as a shelter. If it’s easy to meet your debt obligations, then wait until the real estate market turns around.

If your investment property generates good cash flow, then you’ll be in good shape if you hold on to your property as a long term investment. Every year you own the property, the sooner you get to actually paying it off. Rent demand is not likely to decrease, and there will always be a need for shelter.

If your investment property doesn’t generate monthly income, and you don’t want to keep it for very long, you’ll probably be better off selling quickly. Sell it quickly by pricing it less than the competition before prices drop further. Minimize your losses by selling now. If your property values are going to decline over the next two years, then it will be much longer than that until your property gets back to the current value.

Real estate can’t be lumped into a one size fits all scenario. Every real estate market is different. Draper Homes for Sale might greatly drop in value while Crosby Texas Real Estate might see an increase. These predictions are just speculations, and nobody knows what will really happen to the future of the real estate market.

Technorati Tags: home selling, Investment Property, real estate investing, recession

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