Tuesday, September 29, 2009

Homes: Sell at a loss, buy at a discount



Post by Jennifer Chang

By Beth Braverman, Money Magazine staff reporter
Last Updated: September 28, 2009: 10:09 AM ET


(Money Magazine) -- The month Jennifer Galdes moved into her condo in the Albany Park section of Chicago, the local paper suggested that the area was up and coming. Six years later, she's still waiting for a Whole Foods.
Galdes, a self-employed publicist, longs to trade up to a similar-size (2,000-square-foot) apartment in a tonier neighborhood. With area condo prices down 16% since their peak, according to S&P/Case-Shiller, she sees her chance.
The catch: She'll have to unload her current place first.
So is now really the right time to make this move, she wonders? Wheaton, Ill., financial planner Kristopher Johnson says yes. Click here to read more

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