Profile picture for Kwameximer

Im about to move to Boise, ID, I have a house in GA, what can I do about this house??

my credit is still shaky and need to do somehting with the house we are currently in.
  • January 07 2012
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Answers (4)

There are only two options - either rent it out or sell it. Rentals are up these days, as more people lose their homes to foreclosures and need a place to live; theres nothing sweeter than having someone else paying your mortgage!

Selling it is going to be harder - you'll need to be prepared to either take what the market will bear to sell it quickly, or make the payments until it does sell at what you'd like to get out of it - which, depending on your local market, price, and condition, could be a considerable amount of time.

Since you said your "credit is still shaky" I would guess you had some problems in the past and don't really want to get into a situation of having to pay for two homes, yours and someone else's as you get settled in Boise. I've been there, and its no fun. Also, I'm sure if you've been working on your credit you don't want to start over again doing a short sale or turning it over to the bank when you can't make your payments.

Final thought - the rental market is pretty good right now, and renting for a small profit each month could help you hold out until the sales market, which is not as good, turns around, which it will, as it always does. 

I, too, will be happy to refer you to a good listing agent if you need one, or a property management company. Either way, best of luck to you in you new venture!
  • January 07 2012
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Thanks for your question "Kwameximer".

I am thinking you should list it for sale.  If you cannot, look to a property manager to lease it for you.  This is safer for you since you will not be in the state.

I agree with wetdawgs, rent for a while until you get used to the area.  I would also recommend having a credit repair company work on your credit which should take 3-6 months and only around $500.

If you need a referral for a good listing agent in GA, feel free to contact me.  If you need a referral for a good credit repair company, again, feel free to contact me.

Good luck, hope we were able to help you out.
  • January 07 2012
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Profile picture for BrokerAppraiser
Rent it or sell it, I don't think it's that complicated. Of course things are what they are so you may be looking at catching a beating on moving it...
  • January 07 2012
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Profile picture for wetdawgs
Is there a reason you can't sell it?  

When you arrive in Boise, you'll want to rent for a while to learn the community and identify the good places for you to live.
  • January 07 2012
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