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Located in Round Rock, TX. I am selling my current house(3600sqf, purchased in mid 2019 with 20%down and mortgage interest rate is 2.875%) and purchased a smaller house(2300sqf) to reduce my debt. New house will be closed next week and current house is already in the market for 80 days and price has been dropping 45k from original listing. Current house is still not having a lot of showings. As summer and hot season over, what should my next step be? Current house was bought at 408K, currently selling for 700K, New house is 470K. TC: 220K YOE: 8
What are prices for both and equity gained on the current house?
Just updated
I am also looking in RR … can u send me the Redfin link ?
You'll be paying the same monthly payment... Interest rates increased a lot... Your mortgage debt is the asset.
Just update the pricing details
If no one is buying it that means it’s not worth $700k. In for a reality check
Idk but I was in that boat and owned two houses (with two mortgages) for about 3 months and it sucked. Got a lowball offer and took it
What’s the rental market like?
Just like new house price is dropping, so does current house price need to drop, no?
Please share reddin or Zillow link
I don’t get it — how much did you buy the old house for? $220K TC is plenty in RR.
Updated this info in the post