To sell or not to sell

Posted by: Amey Stone on June 29, 2005

This new real estate blog is debuting at a pivotal point in my personal homeownership history.

After years of real estate-related angst — Can a family of four live comfortably in 1,200 square foot apartment with two small closets? Can the value of our place really climb much higher? Can we possibly add the hassles of moving to our already chaotic lives? Can we bear to have one more conversation about any of the above? — I think my husband and I are really going to sell our apartment.

At least we're going to give it a half a try. What is propelling us to finally make that momentous decision (I know, 7 million families sell their homes in America every year), is that our neighbor is selling his place.

The real estate broker he signed on thinks that he may be able to sell the two apartments together for someone to combine. We told him to give it a try. In New York City, where large apartments fetch a premium price, apparently one and one really can make three.

At least sometimes. Will it work for us? We'll soon find out. Stay tuned.

Reader Comments

Frances Flynn Thorsen

July 1, 2005 2:02 PM

Good luck on your transaction and good luck on yournew blog! We'll be watching.

Paul Leonard

July 3, 2005 6:15 AM

Hi Amey,

I question a sale unless you plan on moving in with your parents.

There is a factor called "life style" and unless you plan a significant change, where will you live?

The cash in your residence should be considered illusory, and with a family to tie you down, I would think this over most carefully.

In twenty years, the prices will probably be a multiple of current highs.

The only property transactions I regret are the sales I make without a good reason, not just a quick profit.

Paul

Neil Simmons

June 14, 2007 6:26 AM

Referring to the article by Amey Stone above, 'Can a family of four live comfortably in 1,200 square foot apartment with two small closets?'. Having worked as an estate agent for 5 years in Bangkok now I have seen the massive trend of developers to produce smaller and smaller units. Thailand, being a middle-income country, does have some super rich people but most are not able to afford a 2000++ square foot condominium unit. Also, given a lack of public transport (underground and other trains) coupled with heavy traffic levels, most Thais and certainly foreigners prefer to live in the centre. To accommodate this, developers are now building very small units to allow them to be able to sell to middle income Thai professionals. The normal size of a 2 bedroom unit in Bangkok in a new development is between 600 - 800 square feet. The older generation of buildings built 10 to 15 years ago were double this. What's the next step??? Master bedroom 100 square feet ???

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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