How is the market in Beaverton, OR right now? This home was built in 2001, 1375 sqft and currently has a tenant in place at $1050 per month. Any suggestions...i.e. should I sell? If so, what do you think I could sell it for? Thanks!
2007-10-29 12:59:21 · 5 answers · asked by zaidin 2 in Business & Finance ➔ Renting & Real Estate
should wait for a year, now you can enjoy the rent, why bother to sale. if you have no tenant and pay a lot for property taxes, maintain, etc.. still, i would wait for a year , the real estate market for seller will come up next year.
good luck
2007-10-29 13:04:04 · answer #1 · answered by ZenZero 3 · 1⤊ 0⤋
The rental market in the area is going up steadily over the last two to three years and this continues. Currently, though, the prices to buy homes are very stable as the market turns into a buyer's market with lots of inventory available.
You could sell the place now, it's not likely to fetch a better price in the next 12 months. But, it will be a tougher sell because there's plenty of stuff out there. If you bought this four or more years ago, you'll realize a nice profit, though.
Or, you could raise the rent 10%. I think the market would take that rental for $1155 easily. In a year, it might take $1200 a month.
2007-10-29 20:06:32 · answer #2 · answered by comixguru 3 · 0⤊ 0⤋
Consult with a local real estate pro -- or a couple of pros -- and see what they have to say. Although some parts of the counrty have seen values decline that is NOT true everywhere. And a few markets remain robust with rising prices and no problems selling at all.
You need local professional advice. Unless one of the respondents here is a pro in the Beaverton area, take most of the responses with a large grain of salt.
2007-10-29 20:15:16 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Talk to a real estate agent, or better, 3. They will all be happy to interview with you and give you a recommended price for your home. The guy/girl who gives you the highest price is probably wrong. The one who gives you the lowest price is probably right. The reason for that is that it is a strong buyer's market throughout the country and the only way to sell is LOWER THE PRICE.
2007-10-29 22:04:27 · answer #4 · answered by Keep On Trucking 4 · 0⤊ 0⤋
I am not in your area but the real estate market should go back up in the spring. I would hold out if you can and sell when things get back to normal.
2007-10-29 20:40:17 · answer #5 · answered by melissaw219 3 · 0⤊ 0⤋