Can’t Sell, Can’t Buy – What Do You Do?

Selling a home these days can be as stressful as going through a divorce or losing your job. It’s something that is always on your mind and frustrating as ever!

The other night I was watching the local CBS news in Denver and Josh McDaniels, the new head coach for the Denver Broncos, said that the reason his wife and kids haven’t officially moved to Denver yet was because they were working on selling their home back in Massachusetts. It ain’t easy these days – and the new coach in Denver is experiencing this pain first hand.

I also recently read a story from a town in Washington. Apparently the stimulus money has brought a lot of new jobs to the area and people are relocating to the town. However, most of the town’s new residents say they can’t buy a home because they can’t sell their current home.

McDaniels and these homeowners should think twice about selling now. Housing prices are rock bottom and they will likely have to endure the stress of selling for months and even years.

What they can do is think about furnishing the home (many are already furnished anyway) and offering it as corporate housing. They can hire a local property manager to manage the home. By offering it as a corporate rental, these “accidental landlords” may make enough to not only cash-flow their house, but also they may be able to cover some of the expenses of renting a new home in their new location.

Don’t let this down housing market put a damper on moving forward with your life. Just think out of the box and you can survive and even thrive until the real estate market turns. And it will.

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