Retire NOW by Jennifer Saibil
If your retirement dreams of blue skies and orange sunsets exploded along with the housing market, start dreaming again
—but this time, turn your vision into a reality. Price slumps in
the real estate market don’t mean that you need to put off selling your home and retiring to a more leisurely lifestlye. In fact,
if you plan carefully, this could be the most opportune time to
quit working and start living.
Housing Prices: Bottomed out?
Pinpointing the right time to sell your home is a tricky feat. You don’t want to sell when
the market is low, but if you wait too long, it could continue to decline, leaving you at a
greater disadvantage. This is how it works in any money market, and particularly in the
housing market, where you’re playing with an enormous sum of money.
Experts forecasted dramatically falling housing prices for 2011, and they were on target.
Predictions for 2012 are mixed, but no one is seeing a complete bailout. Both Standard and
Poor’s and Moody’s rating agencies are seeing another slight drop, while a survey of one
hundred economists performed by MacroMarkets, a financial technology company, demonstrated the expectation of a slight increase. That means prices are still greatly reduced,
but it might be the opportunity you need to finally sell and use your home equity to live
the life you’ve been anticipating. Of course, you could continue to take the ‘wait and see’
approach, but it’s all a gamble, and the stakes are high.