Home Buying in 97045>Question Details

Mark wiesner, Home Owner in Oregon City, OR

How do I know if I can sell my home for what I owe on it? I'd like to trade up but I'm afraid I might be a few thousand in the hole yet.

Asked by Mark wiesner, Oregon City, OR Sun Jan 27, 2013

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11
Craig Loughridge’s answer
Almost any real estate broker will be willing to provide a free Comparative Market Analysis (a pricing analysis using comparable properties recently sold). Because CMAs can be subjective, I would suggest getting two, so you can compare the price opinions of different brokers.

After obtaining a CMA (or two), if you’re concerned about the accuracy of the reports, or not satisfied with the thoroughness of the broker(s), you should consider getting a fee appraisal. The appraisal process is similar, but the report is more detailed, and the person completing the report is neutral. That is, he has no interest in guiding you toward a price that produces a particular outcome, such as making you willing to sign a listing contract.

Appraisals can only be done by state-licensed appraisers, who can be found in the Yellow Pages of the phone book, or online at http://oregonaclb.org/. A typical appraisal runs about $450 to $500, but can vary depending on the size and use of the property.

Best of luck!
0 votes Thank Flag Link Mon Jan 28, 2013
I agree with Craig. The only way you will know is by being given current market conditions is to find out from a professional. Best wishes!
Flag Mon Dec 9, 2013
Hello Mark,
I live in Oregon City, and have been selling homes in Oregon City for 22 years. I would be happy to put together a free Market Analysis for you, letting you know what your current listing price could be. Many home owners that I have been working with are concerned with the same issues as you. Let me help you understand your position and your options. Connie Iman - Principle Broker Tower Realty 503-702-5048
0 votes Thank Flag Link Mon Jan 28, 2013
A good agent can get the facts for you and quick. I would consult one of us directly. All we need is your address and a brief description of the property. Agents have a lot of tools at their disposal to discover home values.
0 votes Thank Flag Link Mon Jan 28, 2013
Hi Mark - I did a little preliminary research and found your property tax records, as well as the recorded transaction history of loans to give me an idea of what you owe so we know whether you're in a good position to sell and not be a short sale. There are some personal things in the transactions history that I have questions about and I'd rather not ask you about them in this format. If you want to send me an email at: LetUsGuideYouHome@comcast.net or give me a call later today at 503-924-3410 - we can talk through the questions and see what we can do.

Based on the old RMLS listing sheet from when you bought the home long ago - it was a nice home that had been fully remodeled. Not having a garage will be a bit of a detriment though....maybe by now you've added a garage?

I run a top notch large team at Keller Williams Realty - most of us live in Clackamas County and we've sold many many homes right around you over the years. We would be a great resource for you and would be able to tell you fairly quickly whether you are in a position to sell and not be in the hole.

Kelly Gebler, Principal Broker/Owner
Cornerstone Group NW @ Keller Williams Realty
http://www.CornerstoneGroupNW.com
LetUsGuideYouHome@comcast.net
503-924-3410
0 votes Thank Flag Link Mon Jan 28, 2013
Hi Mark,
I don't see any tax records for your house in Oregon City. My cell is 971-570-2216 to start the process of evaluating your current home. Between my partner Steve and I we have sold over 1000 homes. Let us help you find your new home in Oregon.
Sincerely at your service,
Annie
0 votes Thank Flag Link Mon Jan 28, 2013
Hi Mark,

Contact a local Realtor and ask them to do a Comparative Market Analysis (CMA) on your property using SOLD comps within a 1 mile radius of your property (the closer, the better) that have SOLD within the last 3-6 months. This will give you current market value. The Realtor should also be able to give you a Seller's Net Proceeds sheet so you can see what your proceeds will be - or your shortage.

Good luck.


Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Sun Jan 27, 2013
Hi Mark,
Knowing what the properties have sold for around you in the past six months is key to getting a price range of where your home falls in list price. Once you get this figure we can go over seller costs and then see if it's feasable for you to pay off your mortgage and buy our move up home. I just recently had a listing in OC that went pending in 2 days so would be happy to do a market analysis on your home to see if it's feasable for you to sell at this time.

Feel free to contact me anytime!

Cindy Westfall ABR,GRI
Premiere Property Group
503-819-5241
cwestfallportlandrealestate@gmail.com
0 votes Thank Flag Link Sun Jan 27, 2013
Hi Mark, I would be happy to provide you with a sellers net sheet showing you all the upfront costs of selling and your payoffs on the mortgage. This compared against the market value will tell you if you can move forward.
No cost to you...
0 votes Thank Flag Link Sun Jan 27, 2013
With limited inventory on the market, encourage your Realtor to be aggressive on the sales price. If your homes gets no offers in the first few weeks, you can always reduce the price.
0 votes Thank Flag Link Sun Jan 27, 2013
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Check in with a realtor-let them know the amount owed and they will get you the costs for closing to see if it is workable for you yet! Very simple!
0 votes Thank Flag Link Sun Jan 27, 2013
Hi Mark,

A good place to start is by contacting a competent realtor who can take a look at your home and provide you with an opinion of what you could sell it for in today's market. The Oregon City market has been shifting in favor of sellers the over the last few months and has seen some value appreciation.

If you'd like me to provide you with a value, please let me know. I am local to Oregon City and know the area well.

David Peck
Realtor, FACS
Oregon First
Phone: 503-516-2013
davidpeck@oregonfirst.com
0 votes Thank Flag Link Sun Jan 27, 2013
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