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Real Estate: Tom Kelly


Tom Kelly
Tom Kelly
The Real Estate Adviser
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April 23, 2009

Tom Kelly: Converting your home to a rental gets harder

The housing market has been as uncertain as the next monthly unemployment figures. Families have put home purchases and remodeling projects on hold, waiting for a positive sign in consumer confidence — or an upward, consistent move in the stock market — to make a big-ticket decision.

A friend of mine, whose two daughters are grown and gone, would like to remodel a home in the neighborhood, sell his present residence and then move into the remodel. Given the present conditions, he doesn't feel he can do either. He's uncomfortable investing a ton of dollars on the remodel that he may need for day-to-day expenses and he's afraid there's already too much inventory on the market to list his home for sale.


 
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