We are selling our house - my wife's job is being eliminated, but they have told her that they will find a position at another office when the time comes. We want to be proactive and sell our house and move into a rental until we have to relocate.

My question is do we buy again in a few months or get a rental and wait for the market to adjust?

Anybody have thoughts or insight into what the housing market is going to do? Strategy suggestions?

This post was edited on 8/14/24 at 5:24 pm

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Posted by Jag_Warrior

Virginia

Member since May 2015

4292 posts

Posted on 8/14/24 at 6:07 pm to Jax-Tiger

quote:
Anybody have thoughts or insight into what the housing market is going to do?

The “housing market” won’t affect you at all. Interest rates may, but not that. The national median price or the housing market in DC or Northern VA have little or nothing to do with the housing market in southwestern West Virginia. It’s the market that you’re looking to buy (or rent) a house in that will affect you.

Do you have a rough idea of where you might be going?

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Posted by Jax-Tiger

Port Saint Lucie, FL

Member since Jan 2005

25809 posts

Posted on 8/14/24 at 6:48 pm to Jag_Warrior

quote:
Do you have a rough idea of where you might be going?

We'll be staying in Florida. Could be Gainesville, Ocala, Ormond Beach, West Palm, Sarasota, or Jacksonville. Sh works for a regional company based in Florida. She may get to choose between the locations based on openings.

So the short answer is that we don't know, except that it will be in Florida.

Update on house situation: we went under contract today - on day 4 of being on the market. We have until September 12th to find a place to move into.

My wife works in Vero Beach and we live 30 minutes south of there, now. Off season rentals are available until the end of November, so we'll probably find a place close to the beach in Vero for a couple of months and enjoy that while waiting to find out about my wife's job.

My gut tells me that we should rent for a year or two and park our equity money during that time and wait for the market to play out.

So a follow up is what do I do with that money if we go in that direction?

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Posted by I Love Bama