Selling primary home

[Jeffrey Johnson]

I have a question that I hope will have a somewhat easy answer.

the wife and I would like to move out of the area we are in now. Our home price has dropped probably 50k. We are not underwater but no where near 20% now. Homes in this area have not been selling at all. I think 1 has sold inthe last year. I am looking for options to be able to sell. I want to get the most out of the home. I knowm no matter what I do now I will lose a decent amount of the investment I put in. I just want to be able to pull something out. We do want to be able to buy another home as soon as we relocate as well

I have been looking at home swapping. But that seems hard to do and would require lots of luck. I was also thinking of renting it and then buying. but it looks like you need 30% equity now to do that. Is that true. If I do a contract for deed or a lease option would I be free to purchase something else as a primary home right after with normal financing?


Any help would be great. I will answer any question I can to help.

Thanks