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30 Something Baby Doc

Friday, May 05, 2006

It's a Buyer's Market

I found a house that I like alot. It's all brick exterior, 3500 sq ft, lake view, swimming pool, and the best part is the location...... just down the street from my current condo. The latter places it in a proximity for a very short commute downtown to work and other desireable locations in the city.

The main problem is that the housing market is very slow currently here in the Midwest (and interest rates are going up). I likely will not have time to sell my condo before I make a offer on this house. I will have to carry two mortgages until I can sell my condo. I don't know if this is feasible for me. I'm afraid of the unknown. When will my condo sell? Will I make money or lose money on the sell? What if I encounter a financial crisis while I'm carrying 2 mortgages?

I need to review my budget in detail. I really like this house and I'll tour it with my agent tommorrow, but if it was meant to be, it will be.....everyone have a safe weekend.


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