We purchased a home at the top of the market in 2022 when we needed to move. We love the house and love the neighborhood, but we purchased next to a busy road that has only become busier. We are tired of the traffic noise and want to move a few blocks away from the main roads while staying in the same neighborhood.
A house across the street sold quickly this fall for slightly over what we paid for ours in 2022. After realtor commissions and the money we've put into upgrades, I'm sure we are going to lose money. The move is a quality of life issue, and I'll just consider it an expensive lesson never to buy near a busy road.
1. If I understand it correctly, losses on a primary home are not deductible on taxes? Is there any other way to mitigate or recoup any losses on this sale?
2. I still don't understand the implications of the NAR settlement. What should I be doing when I'm interviewing realtors? If I negotiate a commission, does that mean they'll do less to market my house? Will it make it less attractive to buyers who won't be able to "share" my agent's commission?
3. Has anyone had success with a contingent offer in the last 4 years? The market is still hot, so you need to be competitive. I could carry two mortgages, but would prefer not to.
A house across the street sold quickly this fall for slightly over what we paid for ours in 2022. After realtor commissions and the money we've put into upgrades, I'm sure we are going to lose money. The move is a quality of life issue, and I'll just consider it an expensive lesson never to buy near a busy road.
1. If I understand it correctly, losses on a primary home are not deductible on taxes? Is there any other way to mitigate or recoup any losses on this sale?
2. I still don't understand the implications of the NAR settlement. What should I be doing when I'm interviewing realtors? If I negotiate a commission, does that mean they'll do less to market my house? Will it make it less attractive to buyers who won't be able to "share" my agent's commission?
3. Has anyone had success with a contingent offer in the last 4 years? The market is still hot, so you need to be competitive. I could carry two mortgages, but would prefer not to.
Statistics: Posted by MCST — Sun Dec 15, 2024 7:59 am