Any advice on how to sell a 1 bedroom (958 sq.ft.) garden unit in Rogers Park?
I have owned a beautiful 1 bedroom vintage unit for 5 years. I put $10k into rehabbing it and now will have to take a huge loss and sell it at what I bought it for or probably less. It has been on the market for over 2 months and we have had 1 person come to see it. The comps in my area show that there are other forclosures going for like $40k. Does anyone have any advice on how I could increase the visibility? It is more of a ground unit (just 2 steps down) than a garden unit. My agent has it listed and we do craigslist ads each week. I have thought of trying to advertise it to the elderly b/c it would be perfect for someone who can't climb many stairs. Another option is that I could rent it but would need to get permission from my condo assn. Any thoughts on how I can sell a condo in perfect condition in a not so perfect market? If you want to take a look the address is 7523 N. Claremont Ave. Unit G. Thanks!
Hi Kimberly, are you living in this condo? Just for me to know....
Do you know if you would get permission of the association to rent?
I will have a closer look at your listing and get back to you.... You know your agent should have all the comps and this is not an easy market and a one bedroom is never that easy as it is limiting the amount of interested buyers, most even young couples want a second room, either to have an office, guest bedroom, den or future baby room.... and all ground level properties are also harder to sell in general, but then one never knows...
But this market is very very competitive and not an easy market for sellers... That said I will have a second look and get back to you.
If you have additional information contact me!
By the way if and when you either sell or rent, where would YOU go?
Talk to you soon.
Edith Karoline YourRealtor4Life
Working always in the very BEST interest of her clients!
EdithSellsHomes@gmail.lcom
Hi Kimberly. Every property has a price for which it will sell. Based on comprable sales, are you on the high-end?...low-end? You mention that there are others (foreclosures) selling for the $40k range. The foreclosures are "real" comparable sales. Price the condo aggressively, and if needed, sell it via a short-sale.
Robert Greenblatt
Keller Williams
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