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Answers (9)
- Matt Williams, "Matt Williams"
- Contributions:10
I would keep in mind beauty is in the eye of the beholder. Reading through this posting, it looks like you are reading into this maybe a bit too much. Sounds like you have recent comps but need to look at active, pending and recently sold to get the best idea on price.
With the 3 condos I have sold already this year, each buyer has bought the least expensive unit in the complex. Therefore, value driven strategy using other units in the same complex to arrive at their offer price.
Willing to do some research for you including a Comparative Market Analysis to see if our numbers match.
Thanks and good luck.
Matt
With the 3 condos I have sold already this year, each buyer has bought the least expensive unit in the complex. Therefore, value driven strategy using other units in the same complex to arrive at their offer price.
Willing to do some research for you including a Comparative Market Analysis to see if our numbers match.
Thanks and good luck.
Matt
- dave378712
- Contributions:22
Janeese,
My timeline is immediate. My knowledge base is merely from experience as my family holds many real property assets. This property unfortunately does not fairly represent our holdings as it is an isolated entity far from our next nearest holding and in quality, it is clearly the black sheep.
I was an 18 year tenure CEO for a high profile consumer brand. I should have some sense of brand and market awareness but do rely heavily upon your input in this arena as it is your theater of expertise.
I need to weigh investing in this unit to drive interest. It is surounded by updated comps. The presentation is meager as it is not the most attractive inventory locally. We can enhance the saleability with Owner Finance options or some other clever tools.
Your thoughts?
- Janeese Jackson, "Janeese Jackson"
- Contributions:255
D: sounds like you are very knowledgeable about the process, so I'm assuming you have researched comparables in your complex and area to determine the $150k price range? If not, I'd be happy to begin the process. Otherwise, what is your timeline for the sale?
Janeese Jackson
Janeese Jackson
- Alex Rodriguez, "TopBrokerAlex"
- Contributions:14
Try http://www.homethinking.com/ where you can see the agent's transactional history...
- dave378712
- Contributions:22
You all have realistic responses. The realtor who sold it to me? I was self represented and paid cash for the unit 17 years ago. It is owned outright without lien or encumbrance. You can review the parcel data from the county website. The COA has a number of capital improvement projects forthcoming and is solvent.
This unit is a $150K Condo. It is ready for superficial remodeling but possesses very favorable attributes; very private, 3 min access to I-5, location within complex, poolside, great distance territorial and mountain views.
To aid your efforts, we shall consider discounted quick close cash-out bids for an investor, through owner contract opportunities whereas the buyer is unable to qualify for conventional finance. I favor cash down over ratios and FICO scores. A homeowner should be vested in their home, bearing risk of loss.
Feel free to contact me with your prospective plans of action.
- Janeese Jackson, "Janeese Jackson"
- Contributions:255
Hi Dave, my first question would have to be where is the agent that sold you the condo? If that person is not an appropriate resource, then I agree with William. It becomes a matter of interviewing agents to determine compatibility, experience and expertise. I have owned 6 condos over my years of investing and I'm currently a "condo dweller" plus still have one condo investment property. I also agree with William concerning the information that could facilitate the sale. However, I wouldn't necessarily go that alone. The agent you hire should help you facilitate these questions and possible obstacles. This should be a partnership to accomplish your real estate goals.
All the best...
All the best...
- William Metzker, "MrLiam"
- Contributions:210
It's less a question of history than of competence. Here's some thoughts, though. First--is your building FHA approved? Financing will be hard for a buyer if it isn't. And FHA limits for Multnomah County are around $417,000. Above that, and the sledding is rougher. The good news is that some condo buyers have all or mostly cash. Long story short: partner with a lender who knows a thing or two about condo financing.
Find out what shape your COA's reserves are in. Fannie Mae and Freddie Mac are pretty anal about lending where reserves are not fully funded. You can say an agent doesn't need to get into this stuff, but hey--it's gonna come up, and too many agents have the attitude of getting a signed offer on the table before finding out this information.
Find out what percentage of the units are leased vs. owner-occupied. Lenders like to see a high percentage of owner-occupants (it varies, but, say, over 60% or 65% should be safe).
When you find an agent, ask him/her if now is a good time to buy a house. After he answers, ask what he told people in 2006. Too many brokers aren't marketers, they're house hawkers.
And that's enough for now. :) Oh--I know two great marketing agents who also have professional business manners, one with Sunset Group and one with M Realty. I can give you their contact info offline.
- Stephen FitzMaurice, "Top10Percent"
- Contributions:1216
With all the auctions and foreclosures of Condos in SW, there are very few agents having success. I've sold quite a few, but it depends on more than just stellar marketing, the price has to be reasonable.
You can see my marketing plan (including Zillow Featured Homes) at:
[link removed by moderator]
Either way, best of luck.
Stephen
You can see my marketing plan (including Zillow Featured Homes) at:
[link removed by moderator]
Either way, best of luck.
Stephen
- Ryan Eck, "Ryan Eck"
- Contributions:15
I can refer you to a an agent in my office with years of experience focused on Condos in SW. Contact me if you like.
How do I locate an agent that has a sucessful history with selling Condo's in SW Portland?
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