Whelp, I'm putting my apartment on sale next week. I may be homeless soon.

[Electric Mayhem 35]

I bought into a new building pre-construction that I need to close on Jan 31, 2007. Since I'm terrified of the market going stagnant as rates steadily rise and I am moving into the new place and two mortgages would destroy me, I'm putting my current place on sale now.

 

I've only been in the place for 8 months, so i'm going to have to pay capital gains tax, but after closing costs and broker fees I'll be lucky to break even on it.

 

Wish me luck! I may move into NYC for the time between the sale of this place and the move into the new one. Wheee!!!!

 

The trick is going to be finding somewhere i can hang my hat for a ~6 month or less lease. i may have to do the Craigslist thing, but the thought of moving in with a stranger for 6 months and having a roomate is NOT something I'm looking forward to.

 

I don't suppose anyone wants to move to beautiful up-and-coming South Norwalk, CT?

[D_House 0]

i hear sex-for-rent is a growing option in NYC. your ass may get a hurtin', but your wallet won't.

[Slruc 0]

that suxor.

 

 

Good Luck.

 

 

I think I read somewhere that if you are willing to put out, you can get free rent from craigslist members. ...

 

Edited to add, Dayum. The House beat me to it.

[GutterBoy 2,900]

Sounds like a solid move. You can always sleep on the toilet at work.

[kutulu 1,688]

Does this mean that you will be posting less?

[hoytdwow 202]

My ass bleeds for ya.

 

:alsonotreally:

[GobbleDog 1,001]

You're selling your condo unit? I just bought mine a year ago and I'm already wanting to sell it.

 

I want a house. With a tree out back that I can pee on whenever necessary.

[GutterBoy 2,900]

Seriously, have you checked with your agent to see how fast they are selling? me thinks you are jumping the gun and setting yourself up for some tough times ahead, especially if your new place won't be done in time, as we all know new construction rarely is.

[mulletia 0]

right you shouldn't have aroommate because of all that sex you're getting

 

but in all seriousness, you should probably do a craigslist to find a small place with no lease

[Electric Mayhem 35]

Seriously, have you checked with your agent to see how fast they are selling? me thinks you are jumping the gun and setting yourself up for some tough times ahead, especially if your new place won't be done in time, as we all know new construction rarely is.

 

The contract says I have to close Jan 31st, so that should be the day they are ready. From what the seller tells me they should be done by November, and left themselves a couple extra months just in case. its actually being built basically next door to where i am now, so i can see they are making decent progress on it.

 

As for tough times, I think i would have much tougher times if i don't sell now and have to pay two large mortgages and have to keep dropping teh price on my place. That would SUCK.

 

you should probably do a craigslist to find a small place with no lease

 

That would be ideal

[TommyGavin 790]

you work in NYC? Whats the commute like from "South" Norwalk CT ?

[Franknbeans 46]

who whelps anymore

[Electric Mayhem 35]

you work in NYC? Whats the commute like from "South" Norwalk CT ?

 

I work in Stamford, CT, so I would have to do a reverse-commute most days. but I also have access to an office in the city, so I could split time between the two. i think the commute is about 1hr 20 door to door from where I am now into the city office.

[TimmySmith 2,783]

There is a part of me that says you are repeating your mistake. Is it possible that you will move into the new place, then feel like selling in 8 more months? Are condos moving in your area? In the ideal world you would probably be better off staying in the old place for another 16 months, then selling with no capital gains. Then buying into the building that you wish to live. It is important to know the condo market though, pre-construction can get a great buy, it can also do the reverse. Right now in D.C. the condo market has turned, with a glut of vacant condos, pre-construction is no longer the way to go. Good luck.

[Electric Mayhem 35]

There is a part of me that says you are repeating your mistake. Is it possible that you will move into the new place, then feel like selling in 8 more months? Are condos moving in your area? In the ideal world you would probably be better off staying in the old place for another 16 months, then selling with no capital gains. Then buying into the building that you wish to live. It is important to know the condo market though, pre-construction can get a great buy, it can also do the reverse. Right now in D.C. the condo market has turned, with a glut of vacant condos, pre-construction is no longer the way to go. Good luck.

 

Current situation:

3rd floor 887 sq/ft studio loft overlooking street with a building across the way

 

Future situation:

7th floor 1400 sq/ft 2 bedroom condo overlooking the water. It's going to be fan-freaking-tastic. Actually, here is the place: link

 

I plan to be there for a while. And as i mentioned, after broker fees and closing costs i think my gains will be minimal (if any), so capital gains will be a non-factor.

[TimmySmith 2,783]

Future situation:

7th floor 1400 sq/ft 2 bedroom condo overlooking the water. It's going to be fan-freaking-tastic. Actually, here is the place: link

 

Very nice, sounds like a definate upgrade.