Sell Some, Buy Some, Worry Some

Depicted here is the home in Sun City, AZ, now listed for sale and hopefully a quick one at that. The 1990 Chevrolet station wagon in the driveway is also on the way back to Indianapolis, by car carrier. I asked my brother to snap the shot of the signing of the listing, with myself, my mother, and her Realtor shown.

The Arizona Realtor sold my mother this home back in 2000, and ten years later will have the opportunity to sell it FOR my mother and myself. For some reason, mother put my name on the deed, based on the fact I loaned her some funds toward the purchase of the property. So, now I hope to recover those dollars, as I currently have 3.5 homes and one mortgage. The year 2010 will be the year of home sales - hopefully.

Yesterday, I began the process of signing a listing with a Missouri Realtor, to offer our current condo in West St. Louis County for sale. I expect to lose perhaps 20% of what I paid for this unit, but hopefully what I've recently purchased elsewhere will offset that loss due to the great opportunity to take advantage of depressed values on my latest acquisition. We still have to deal with the third property, in Florida - that one should sell for 20% more than I paid for it in 2003.

I have already arranged to work with a Florida Realtor, with the added benefit that my Cedars Tennis Resort condo can be placed in the rental pool until it sells. If the oil spill doesn't scare away too many tennis playing tourists, the Florida condo should cover the mortgage costs on the latest acquisition. After having three story condo homes in Missouri and Florida, we're redoing a 1988 single level garden villa on our island, taking away the popcorn ceiling and shiny white tile and replacing it with wood floors, new granite counter tops,new cabinets, paint, and new glass doors. It's going to be wonderful.

My tax preparer, however will probably not be feeling wonderful. I suspect he is going to hate me, but with the ebb and flow of deals, there's no way Turbo Tax will suffice for 2010.

Oh, yes - the 1990 Chevrolet station wagon is being sold back to the dealer who sold it to mother. With only 35,000 miles on it, the son of the dealer will rehabilitate it for his own collection. My mother is very loyal - same Realtor, same car salesperson, same son. Wouldn't have it any other way.