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Answers (9)
- Elyse Berman, "Elyse Berman"
- Contributions:10
Are you priced in line with the comps that have recently sold? The solds, not the asking prices. If not, a price reduction is in order. Do you want to become a landlord because that is what will happen if you rent it. If the stove breaks, they will call you. Some people are ok with this; some are not.
Without knowing your specific situation it is hard to give a definite answer. I would ask my agent their opinion.
Best of luck to you!
Without knowing your specific situation it is hard to give a definite answer. I would ask my agent their opinion.
Best of luck to you!
- Zipprealtor.com
- Contributions:5
Go with your gut instincts! Look at all your options - decide what best for u and your family. Fal - [website deleted by Zillow moderator]
- Gary May, "RealtorTampaBay"
- Contributions:56
Identify the reasons that your home has not sold...review the feedback from the potential Buyers/Realtors that have viewed your property. Generally speaking, when a home does not sell, it's overpriced and/or not in move-in or updated condition. Your listing brokerage/realtor should be able to help you with this decision as they are more aware of the specific dynamics of your local community/city. Best Wishes!
- Philip Elias, "MatchOne"
- Contributions:10
This is tough to answer without knowing both your financial and personal living goals. However, there are several points to consider in the current market to help you with your decision:
1) residential real estate prices aren't going up anytime soon (see PulseNomics/Zillow expectations survey which doesn't see positive growth until 2013
2) rents in Boston are at record levels with a 9.3% increase in 2011 over last year
3) vacancy in Boston at a rate of 4.3 percent was the second lowest in the country last year behind only new York
4) mortgage rates are still incredibly low
These signs point to a decision of refinancing (with potential cash out), renting the property and buying another property. Contact me and we can run the numbers on some scenarios. Good luck.
- Anna Campbell, "annashouses"
- Contributions:1
I would strongly suggest speaking with a financial advisor. They will be able to help you map out long term goals for how effective selling or renting your home will be for you.
Selling a home is usually due to a need to move, a desire to make money or the need to lower your financial outgo.
Your final decision will be made by answering questions relative to:
1. Why are you wanting to sell?
2. What are you hoping to accomplish by selling?
3. Will your current local rental prices support your current home mortgage?
4. Where will you live?
Deciding to sell your home is never an easy decision. However, when you surround yourself with people that are able to help you make positive decisions, then it can be much more effective. Again, I would strongly suggest you speaking with your financial advisor, local Realtor and/or legal advisor.
Selling a home is usually due to a need to move, a desire to make money or the need to lower your financial outgo.
Your final decision will be made by answering questions relative to:
1. Why are you wanting to sell?
2. What are you hoping to accomplish by selling?
3. Will your current local rental prices support your current home mortgage?
4. Where will you live?
Deciding to sell your home is never an easy decision. However, when you surround yourself with people that are able to help you make positive decisions, then it can be much more effective. Again, I would strongly suggest you speaking with your financial advisor, local Realtor and/or legal advisor.
- Gretchen Papineau, "HomesofAndover"
- Contributions:1016
Think carefully about what your goals are for selling.
When a house hasn't sold, it is important to ask yourself these questions:
1. Is there any sold or underagreement activity in my price range at all?
2. If so, how do you compare to those that have been successful?
3.Are you getting showings, second showings and any offers?
4 Have you really listened to your Realtor who is giving you good professional advice or are you trying to sell them on why things are the way they are and how good your house is?
5. Have you critically looked at the condition of your house relative to what buyers in your town are looking for and expect. Some sellers kid themselves when they say they don't want to make changes because they might make a wrong choice. Your agent can give you good advice about appropriate selections. (I even go with my seller and make the selections for them when updates are called for).
In my experience, waiting for a market cycle that will be "different" or renting the property to buy time has not produced better results for any seller I have represented. Good luck and we can connect to talk more.
When a house hasn't sold, it is important to ask yourself these questions:
1. Is there any sold or underagreement activity in my price range at all?
2. If so, how do you compare to those that have been successful?
3.Are you getting showings, second showings and any offers?
4 Have you really listened to your Realtor who is giving you good professional advice or are you trying to sell them on why things are the way they are and how good your house is?
5. Have you critically looked at the condition of your house relative to what buyers in your town are looking for and expect. Some sellers kid themselves when they say they don't want to make changes because they might make a wrong choice. Your agent can give you good advice about appropriate selections. (I even go with my seller and make the selections for them when updates are called for).
In my experience, waiting for a market cycle that will be "different" or renting the property to buy time has not produced better results for any seller I have represented. Good luck and we can connect to talk more.
- SoCal_Engr
- Contributions:5663
What is your goal/objective?
Refinance/rent are "hold" options, indicating you don't need/want to sell the house, just see some improved cash flow.
"Wait until spring"/"lower price" are "sell" options, indicating you need/want to sell the property and use the proceeds for something else.
So, what are you trying to do?
Refinance/rent are "hold" options, indicating you don't need/want to sell the house, just see some improved cash flow.
"Wait until spring"/"lower price" are "sell" options, indicating you need/want to sell the property and use the proceeds for something else.
So, what are you trying to do?
- Linda Gillespie, "LindaGillespie"
- Contributions:19
@ South Dorchester,
Interest rates are extremely low right now - so think twice before you take your home off the market. Firstly, are you actually listed on the market with a Realtor? If not, perhaps this is the best time to contact two local experts to hear what they have to say. The second question I have for you is what condition is your home in and how are you presenting it? Sellers often have a difficult time understanding that their home is actually a commodity for sale and needs to be de-personalized, neutralized, de-cluttered and presented properly for the buying public. Minor changes can go a long way and make THE difference. Regarding price: Are you being realistic with the market in your area OR are you focusing on what you "need to get out of the house"? If you want to make certain you have your home priced correctly, make certain that you have the specific "sold" prices for homes recently sold as well as the sold price of any under-contract homes. Your home should be priced according to those prices and not simply on what price you need OR other actively available homes. A good rule of thumb: A home will sell ONLY when the price is within 5% of what a buyer believes the value is. If you are in a declining market, price your home below "solds" from a few months ago. Pair this pricing information with proper condition and presentation and your home will sell. Good luck!
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
Well I would look closely at your market. Are homes moving there? If so are they discounted? How much time does it take from listing to closing there? Are you currently living in the home or is it vacant? Are you paying a mortgage or is it paid in full? These are some of the questions you need to answer first. I will tell you this that homes are selling and they sell during the winter. Certain markets will slow down though. For instance the northern part of the country with all the snow they get makes selling a home harder. The rental market is moving but you really need to see what you can rent it for there. I would get with a Realtor there to assst. They are the specialist and they know the region better than anyone. Look to your local Realtor or Real Estate Company for some good advise. It's free and available to you. Thank you for your question.
Haven't been able to sell. Do we sit tight until spring, refinance, rent it, lower price, etc? Help!
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