2006-09-18 14:35:07 · 16 answers · asked by rmcampion 2 in Business & Finance ➔ Renting & Real Estate
You did not say why you could not sell it. Legal issues? Price? Market? Over did the rehab?
Can you rent it?
More info will help get a good reply.
2006-09-21 19:36:28 · answer #1 · answered by tnbroker1 3 · 0⤊ 0⤋
Not sure if this would help. Usually, a housing market correction last for years. It is unlikely things will brighten up in a few months, afterall, this bubble took 5 years for form.
It might be better to give some discount so you unload the house quickly and can use the gain of the home to make money elsewhere quickly. At the same time, you will save money by not paying mortgage for the next 5 months.
For example, if mortgage is $2500/mo. and you have $300,000 gain sitting in the house, by selling it now rather than 5 months later will save you $12500. It will also earn you as much as $7000 from interests (Assuming CD are paying 5.5% or higher).
Total financial benefit for selling early would be $20,000. I would give buyer some discount just because of that.
Finally, keeping a house in selling condition is a lot of work. If your realtor does staging, it costs extra to rent furnitures. If you are living in the unit, it takes extra effort to keep it clean. So, sell it fast!
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514
2006-09-18 18:20:49 · answer #2 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
Is the home priced right? Are you listed with a real estate broker and are they doing a good job of marketing. It is a buyers market right now, so it's not easy. Marketing, Marketing, Marketing is the key. If you are trying to sell by owner good luck
2006-09-18 15:03:13 · answer #3 · answered by gizmo 2 · 0⤊ 0⤋
where is the house located? are you trying to sell it for sale by owner? if so you should list it. if not just rent it.
jayquan228@yahoo.com i'm a realtor in new jersey im known as the 3% guy i beat out the competition. good luck .
2006-09-18 14:41:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You'll sell it just hang in there. It may take some time, but it'll sell. We were in that position, and I thought my house would never sell. In fact, it took it a year, but we fianlly sold her. Is your price to high? Anyway, Good luck!
2006-09-18 14:44:02 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Lease it for 3 years and wait till the property value goes up.
2006-09-18 14:42:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Possibly sell on contract, very popular alternative in todays marketplaces.
2006-09-19 05:25:37 · answer #7 · answered by Petra 2 · 0⤊ 0⤋
honest, i assume yet in Indiana- it is going to likely be an fairly gradual sale. you are able to extremely circulate a house for that throughout Philly so i assume Indiana it is going to likely be sitting around. My pal in simple terms offered her homestead and she or he decreased it to ninety 5,000 and sat on it for 2 years in Indiana. pastime marketplace is undesirable accessible.
2016-10-15 03:47:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Live in it or rent it out until the market improves.
2006-09-18 14:38:58 · answer #9 · answered by troythom 4 · 0⤊ 0⤋
Lower the price, that is the gamble of that type of business.
2006-09-18 14:50:10 · answer #10 · answered by Nelson_DeVon 7 · 0⤊ 0⤋