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Sales Associate for Lattimer Realty
May 2010—present
People don't talk about it a lot. But finding the right real estate agent can be the…
People don't talk about it a lot. But finding the right real estate agent can be the…
Sales Associate, Realtor for Prudential New Jersey Properties
July 2006—May 2010
Assisting buyers and sellers in Essex, Morris & Passaic Counties.
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Assisting buyers and sellers in Essex, Morris & Passaic Counties.
Specialties:
Whether you're buying your first home, selling and moving up, downsizing, relocating, or acquiring income properties, you need a Realtor devoted entirely
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& Awards:
Memberships:
National Association of Realtors ... show more
National Association of Realtors ... show more
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Former Co-President of the Fairfield Home & School Association
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Active Member ... show more
About:
By way of personal background, I was born and raised in Belleville before getting married and buying our first home in Little Falls in 1999. In 2003 my
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Testimonials:
""You are a beautiful person and anyone would be lucky to have you represent them.""
LGL Thu Mar 11, 2010 ... show more
LGL Thu Mar 11, 2010 ... show more
Gina Chirico answered:
Hi Ken,
I agree that maintaining a multifamily home long distance can present a challenge. You need to speak to a few real estate agents to determine what its worth in today's market. How soon are you looking to relocate? Do you need a quick sale?
Would the property appeal to investors or owner occupants? Sometimes the price of the home will determine if its an ideal property for investors or owner occupants. Will the rent of both units cover the entire mortgage and taxes? If yes, it may appeal to an investor. If the rent from both units doesn't cover the expenses, it may appeal to an owner occupant, who, like you, can live in one unit and rent out the other thus the rent helps them to pay the mortgage.
Another thing to consider regarding is are your current tenants on a lease? If yes, when does that lease expire? A new owner will be bound to the terms of your current lease and some buyers want to buy a multifamily home without tenants so they can live in both floors (extended families or find their own tenatns) and some buyers look to buy a home already with tenants especially if they need the rent to qualify for the mortgage.
I grew up in Belleville by #8 school and know the area very well. Two family homes range in price from the mid $200,000's to the low $400,000's. If you are relocating quickly, I wouldn't suggest overpricing the home nor will an overpriced home attract investors. The home should be well priced and agressively marketed. Feel free to contact me to discuss the sale of your home.
Good luck.
I agree that maintaining a multifamily home long distance can present a challenge. You need to speak to a few real estate agents to determine what its worth in today's market. How soon are you looking to relocate? Do you need a quick sale?
Would the property appeal to investors or owner occupants? Sometimes the price of the home will determine if its an ideal property for investors or owner occupants. Will the rent of both units cover the entire mortgage and taxes? If yes, it may appeal to an investor. If the rent from both units doesn't cover the expenses, it may appeal to an owner occupant, who, like you, can live in one unit and rent out the other thus the rent helps them to pay the mortgage.
Another thing to consider regarding is are your current tenants on a lease? If yes, when does that lease expire? A new owner will be bound to the terms of your current lease and some buyers want to buy a multifamily home without tenants so they can live in both floors (extended families or find their own tenatns) and some buyers look to buy a home already with tenants especially if they need the rent to qualify for the mortgage.
I grew up in Belleville by #8 school and know the area very well. Two family homes range in price from the mid $200,000's to the low $400,000's. If you are relocating quickly, I wouldn't suggest overpricing the home nor will an overpriced home attract investors. The home should be well priced and agressively marketed. Feel free to contact me to discuss the sale of your home.
Good luck.
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