We have a house in Derry, NH. We are contemplating a move out of state, due to a variety of concerns, including health, climate, real-estate taxes, and others. Its a wonderful state to live in, truly one of the freest and most beautiful for its size, but after over half a century here I am about ready to live out some of my declining years elsewhere.
So, I/we have decided to sell out and move to another state. Some of the options we are considering are North Carolina, Virginia, South Carolina, Arizona, and Nortern Cali. The real estate market is slow right now and property values are down. The home I live in was valued at about 285 thousand dollars two or three years ago, but has dropped considerably since that time. Economic forecasters are predicting a rising back up of home values, but to wait for that to happen is just going to cost a lot more money while waiting.
So my plan, such as it is, is to offer to basically just sign over this house by Quitclaim deed to someone, which someone will take over the payments while they negotiate a loan for themselves that fits them. My understanding is that interest rates have and are fallen/falling, and are expected to continue to do so. Loans are a bit tight as of this writing, but it is all supposed to settle and sift down. I am not caring about making an extra 80 thiusand after things climb back up in a couple of years, or three or four years, whatever.
What I have in mind is some one who wants to buy this home to give me the deposit of somewhere around $30,000.00 and assume or walk into, this mortgage. Then work this mort out and another one in. Meantime they would be paying the bank payments of appx. $1262.00 per month, plus taxes (appx. 5,000.00/year) and house insurance ($600.00/year).
Its a great town if you are raising or going to raise a family- the school system is new, the high school is a private academy, five fire stations, modern police dept. Tax base is broadening as we speak. Good water, clean air. One hour to Boston, five hours to Montreal.
So, if any FSP'ers are looking for a home in a location! area, and want to plunk their 30 grand down by Summer's end and own this, please feel free to get back to me. John McGondel, 17 Emerson Drive, Derry, NH 03038. Peace.
Windows Live Hotmail is giving away Zunes.
[Non-text portions of this message have been removed]