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Suzanne, Home Seller in

I own a condo in the Watermarke Condos in Irvine and my fiance lives in the Marina Del Rey Terrace Condos.

Asked by Suzanne, Mon Dec 31, 2007

They are both 1-bedroom. We have to sell one - which one would you advise to sell?

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Answers

13
First of all which location do you guys want to live?
Which floor plan do you have in Watermarke?
How long have you owned this unit?
Would you break even, take a loss or make some money from selling any of the Condos.


If you have not already done this, have a realtor do a Certified Market Analysis on both properties. This will help you to see which of the properties will do better when you sell. Frankly, to sell a one bedroom Condo in this market is a big challenge, however, if you can sell both Condos and buy a bigger unit, that will be something to consider because the home prices and interest rates are low.

Let me know if you need any help.

Good luck
1 vote Thank Flag Link Fri Sep 10, 2010
Hi Suzanne,

Maybe you should sell them both and get a 2 bedroom. "first comes love, then comes marriage, then comes baby in a baby carriage." Or, until then a work out room or office!

Seriously, although you might not get as much as you could before for your condo, you can more than make it up on the buying side. This market offers the best selection you may find for years.
Web Reference: http://www.PeltonTeam.com
1 vote Thank Flag Link Sat Jan 26, 2008
The one that you have equity on. Irvine has had better appreciation than Marina Del Ray. If I were you and if you had equity in both condos, I would sell them both and get a 2 bedroom or even more. Now is the time, you should take advantage of low interest rates. It makes a huge difference to get a mortgage at lower interest rates even one percent makes a huge difference.
If you need more information, please give me a call, I am local agent in Irvine.
(949)514-4177
0 votes Thank Flag Link Mon Jan 21, 2013
Suzanne,

That really depends on where you want to live. Are you going to sale one and rent the other out and buy a home together or will you be selling one and living in the other.

If you are going to live in one then keep the one that will be best for your work commutes. Another factor is do you want to be close to family and friends, if so keep the one near family and friends. If you could use some distance keep the one with more distance between you and the kin folks.

If you need to sale one to buy another home I would suggest you sale the one that will yield you the highest profit.

What ever you are going to do needs to be decided prior to the wedding. You will want to walk into your new married life together with all these financial decisions all worked out.

Best Of Luck to You!

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Jun 20, 2012
Hi Suzanne - great answers here, and I work in the Orange County area, and are familiar with the Watermarke condos in Irvine. If you would like comparable sales prepared and emailed to you on Watermarke - let me know. Also, I have an agent who I work with in the Marina del Rey area.

Consider where you want to live, and location of employment as well. Also, lifestyle is another consideration for you. Good luck.
0 votes Thank Flag Link Mon Oct 24, 2011
Julie Frimpong hit it on the nail with her answer. I actually live in a 2 bedroom in Watermarke so I may be a bit biased. The HOA is high, but for what you get, the location, the security, the saltwater pools, club house, theater room, etc... it's hard to beat. With that said, you'll still need to sit down and figure out which one makes the most financial sense for you to sell. Cheers!
0 votes Thank Flag Link Fri Oct 21, 2011
I wonder if they got married 3 years ago when this thread was started - or whether they sold one of their condos? Perhaps they rented one, or both of them out, and got a place they both liked better.
Web Reference: http://BobPhillips.net
0 votes Thank Flag Link Sat Jan 8, 2011
Hi Suzanne,

I know that the Watermarke Condos are very popular.....I don't work in Marina Del Rey but have an agent I know very well who does....if you like, we can prepare comps for you to use to see which might bring in the most money in this market, that might help you make a decision?

If you think that would be helpful, let me know....you can send me a private email from my profile here.

Congratulations on your upcoming wedding, I just married off my oldest last summer...weddings are such fun and I gained a wonderful new daughter out of it. :)

Karen
0 votes Thank Flag Link Fri Jan 7, 2011
Hi Suzanne!

Congradulations! I'm so excited to hear that your getting married and equally excited to hear that you're in a position to sell one or maybe even two properties. I love working with newly engaged and newlywed couples. I generally help my clients by taking what could be an overwhelming situation and keeping it as stress-free and simple as possible. When I have clients who are facing these tough decisions, my approach ususally begings by asking, "Where do the two of you see yourselves in 10 years?" and "How will your lives change after you're married?" At this point in your lives, the decisions you face will envolve more than HOA fees and a competitve sales price. While it may be true that researching both market comparables and neighborhood demographics will help you determine alot about each of your investments, the truth is that there's no better time to discuss what each of you value the most and base your final decision with these elements in mind. Think of the ways you are going to begin cultivating your careers, finances, children, family life, social networks, friends, recreation, etc. Here's why? Buying and selling real estate is often times an emotionally driven experience. It's important to share with one another exactly how this move will satisfy and compliment each others needs. Let's not forget, another avenue to keep in mind would be to sell both properties and buy together. The market is filled with opportunities right now. Maybe take a few weeks to explore the benefits of buying. Possiby paying into lower interest rates and building the right amount of equity to invest in for the future. Properties that may have been out of your price range before have more than likely decreased in value and may be available to you for much less. Why not upgrade to suite both your needs? If anything, exploring new options will either prove to be worth while or help you discover what you like best about either of the two condos you already own. I hope I haven't confused you. If there's one thing to remember, it's not where you are, it's who you're with !-) You just set the expectations and a good Realtor® will listen to your desires, work with you on the details and deliver results!

Best Wishes & Good Luck!

Katrina Roth, REALTOR®
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355
Direct (661) 208-1855
Fax (661) 291-1463
KatrinaRoth@kw.com
DRE#01863296

Serving All Of Southern California...

My Services *Real Estate Sales *Loan Modifications *Mortgage Protection Insurance *Financial Planning
0 votes Thank Flag Link Mon Dec 27, 2010
Dear Suzanne,

This is a tough question, and would be difficult to answer simply based on the location of the condos. You would need to factor many things in to the situation, for example, how much in proceeds are you looking to get, which location is more convenient for you, and what your timeframe on a sale would be.

We would love to help you in determining the best route for you! Please feel free to contact us so that we may help you get exactly what you're looking for!

Sincerely,

Mitra Karimi
Crestico Realty
Web Reference: http://www.crestico.com
0 votes Thank Flag Link Mon Aug 3, 2009
either look at the sold data here at trulia or dqnews.com and check out in which area the price went down more and factor in your purchase price then you would have an answer. make sure you use the zip code to check the sold data or get a Realtor to get the precise sold data within 1 mile radius. you want to sell the one in the area which price has not gone down so much and that transaction is relatively active in that market.
0 votes Thank Flag Link Sat Jul 12, 2008
Hello Suzanne. Congratulations on your engagement! How great is it that you both are bringing your own condo to the new relationship??

As an Orange County Real Estate Broker, I would definitely recommend selling the Watermarke Condo in Irvine. The HOA dues are high in Watermarke , even for Irvine, and there is a lot more development planned for that area and other parts of Irvine in the next couple of years. For example, the area that now encompasses Raging Waters will be developed by the Irvine Company when their lease expires in 2008. It is estimated that another 3600 homes and condos will be built in that area alone. As a result, you would probably do better in the long run to hold onto the Marina Del Ray Terrace Condo.

I hope this helps! If you have any other questions, please feel free to post again or contact me directly for additional help.

~Amanda Wheeland
Real Estate Broker & Lawyer
Web Reference: http://www.cinch2sell.com
0 votes Thank Flag Link Mon Dec 31, 2007
Hi Suzanne,

Look at which property is going to give you both the best commute to and from work. If that is not a factor, and you absolutely can't see your way clear to keeping both and renting out the home that you are not occupying - rentals should be very valuable this year, then you might want to look at the desirability of both locations.

In order to give you a dollars and sense (or cents) answer I would need to have the addresses of both properties so that I could do a CMA for both locations. Please contact me with the information and I will be happy to help you with not only that, but also with the sale of the property.

Take care, have a wonderful day and a Happy New Year!

Tisza Major-Posner, Realtor, Keller Williams (909) 837-8922
Web Reference: http://Route66Living.com
0 votes Thank Flag Link Mon Dec 31, 2007
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