- Jan 22, 2007
- Reaction score
Final update: Looks like I may have been wrong about the market recovering. A unit identical to the one I sold (albeit one floor higher) listed right after my sale closed for a few grand higher than my sale price. Within weeks they lowered the price twice and sold for more than 10% less than mine. They were likely a motivated/impatient seller, but this really makes it tough on other sellers looking for fair value. Mine barely appraised so I'm fortunate in so many ways to have been able to sell when I did. Better to be lucky than good as they say.Finally rid myself of the condo. Ended up making out okay all things considered but it was a bit of a brutal process with months of little to no activity. Fortunately one person really liked it, and, as with many other things, all it takes is one.
I guess the good news is that I still feel confident that if I wait a bit to invest, the stock market will outperform the real estate market my condo was in. Won’t make up for the drop in value I had to accept due to COVID, but felt like this was the right choice. The purchase market appears to be rebounding now but the rental market is still dismal.