Craigslist has become one of the better venues to promote rentals. Very few people read the newspaper anymore, although check with the Central Kitsap Reporter. They publish a weekly issue specifically for the local military community. You also might consider partnering with one of the local property management companies, like Alger Property Management. For a monthly fee, they will promote your property to potential renters, screen them, collect your rent, etc..

I know this is completely off topic, but I was reading over the responses, which by the way, all seem like excellent information. I read that you have navy families who are interested in renting your house. We bought a home that was a "fixer" and instead of selling it as planned would like to rent it out for a few years. I guess we are not quite ready to part with our first home. Being we have invested a lot of sweat equity into the house we would like to rent to a responsible family. Do you know anyone who may be interested or how and/or where to advertise to attract responsible renters? We live on the border between Bremerton and Silverdale near Cottonwood Elem. Any info. appreciated!

Excellent job Kitsap and Mimax1 so glad Kitsap was here for you. Thumbs up to both of you.

I lived a large part of my life on Bainbridge and have many many good memories of Poulsbo, the bakery, Vikings, the downtown waterfront area and to this day still detour thru the downtown area just to enjoy it every time I visit mom (still on the island). That's the excuse/interest for my eavesdropping on your discussion.

May all work out in the best way possible for both of you.
Dunes
PS. Is there really a better place to have a home or investment property in the Seattle Area if it is economically possible? Kitsap county IMHO is the most beautiful area within commuting distance of Seattle.

Thanks Kitsap, for your comments. I was appalled by that response. In fact, many homeowners refinanced their homes way back when the equity was there. So assuming there is all that equity there to negotiate with is not factual. Apparently the agent did not read the entire question to begin with, as it does state that we don't have much equity. If any agent out there has a good price range estimate for us in the current market, we are all ears. That will allow us to decide if selling now is possible or what to do for the time being.

If you ( for whatever reason) can not lower your asking price. It is my opinion. you should hang onto this property, rent it out if the need be and wait until the market will allow you to get what you need to get for this house.

Jeri, your interjection in this seller's business by spotlighting part of her financial situation is rude and dangerously presumptious. That information, while public, is not the seller's complete picture and you should not assume it has any bearing on what she's willing to accept. There are many factors in a seller deciding too sell and at what price to sell for.

If I knew a potential buyer approached their offer based on what they feel my profit should be on the sale of my home instead of what my home is worth in this market, I'd decline further negotiation.

There are more diplomatic/classy ways to suggest that she is overpriced for this market.

It looks to me like you purchased the house in 2003 brand new for $360K. You are currently asking $497K. You should have enough equity in your home to be able to negotiate with a "low ball" offer, even if you financed the entire purchase. $137 K in 6 years?

I have done both, and also militarybyowner.com,miiltaryfsbo.com and remilitary.com....I will hope for the best, and thanks for the advice and responses.

Well, unfortunately, you can't control what other Sellers do. And one of the downsides of using a limited service agency is you don't get the kind of marketing exposure that is necessary in the current downturn. Have you posted your home on Craigslist? How about Zillow? Both get amazing Buyer traffic. The market will continue to pick up momentum for the next couple of months. I would keep it on and hope that the other home sells soon.

Rich

The home is staged, landscape is great, and shows well (at least that is the feedback so far). So I hope I've done all I can. The one home that reduced here in Evergreen Ridge today is about 80 sq ft larger, lot a bit larger but home is a LOT older and ours is the best location on the entire neighborhood, with the park right behind and all the ammenities super accesible...behind the greenbelt. I guess all I can hope is that house now sells quickly so that the last comp in the neighborhood is not so misleading with that one that sold for 435K being the last one. We are a Navy family thus the move, but we can hang on to the house if that means we won't have to pay to sell. I've had four different rental requests by Navy families, so worst case scenario we either shut it and place on the market later, or rent it. When do the buyers go hibernate?

Hmmm....thanks for pointing that out! It was my total oversight and I will have that corrected.

It really just depends on your reasons and motivation for moving. If you can wait it out a bit, I would stay where you are. Is there anything else you can do to make your home 'pop' and stand out from the competition?

Rich Jacobson

Hope all goes well for you.

But, why are you representing it as CKSD? It is NKSD.

http://kcwppub3.co.kitsap.wa.us/VoterInformation/PrecinctInf…

EEEEEKKKK!!!! So they lowered it on that house?? Thanks for the heads up. Before that price reduction, ours was the 4th lowest out of 5, with the 5th one having gone through some price reductions; although that one is harder to sell apparently and has been on the market for a very long time. That reduction is definitely putting us in a tougher position though. I also read that price reductions can hurt, so we are in a tough spot like you said. I very much appreciate the response and your time. Would you lower the price too to follow suit?. The one that sold for 435k was a flip where the owners apparently never lived in and it sat empty for a year or so, but it is a hurtful comp nonetheless.
Mimax1

You're in a tough spot, but don't feel alone. There are a lot of Sellers who are currently struggling with the same issues. There are 5 homes currently for sale in Evergreen Ridge. Two are priced higher than yours, and two are priced lower. Unfortunately, one of the lower priced homes is larger than yours. Looks like they just dropped the price today, from $499K down to $459K, so that's going to be difficult to sell against. The most recent sale in your development closed on April 6th, 2009 for $435K, but it was about 400 sq.ft. less than yours. If you don't have to move, then simply counter back to what you your equity will allow, and tell the Buyer's Agent up front. There are a lot of Buyers out there who think every Seller is desperate and willing to accept any offer. Best of luck to you!

Rich Jacobson
Windermere Silverdale

You're in a tough spot, but don't feel alone. There are a lot of Sellers who are currently struggling with the same issues. There are 5 homes currently for sale in Evergreen Ridge. Two are priced higher than yours, and two are priced lower. Unfortunately, one of the lower priced homes is larger than yours. Looks like they just dropped the price today, from $499K down to $459K, so that's going to be difficult to sell against. The most recent sale in your development closed on April 6th, 2009 for $435K, but it was about 400 sq.ft. less than yours. If you don't have to move, then simply counter back to what you your equity will allow, and tell the Buyer's Agent up front. There are a lot of Buyers out there who think every Seller is desperate and willing to accept any offer. Best of luck to you!

Rich Jacobson
Windermere Silverdale

If the offer doesn't allow you to pay off the mortgage, you have a few options. Don't accept the offer and wait until you build up more equity on the house; if the move is due to a financial hardship you can apply to your lender for a short sale; use savings to pay the difference.

Pricing for your home can be done by an appraisor (you will have to pay for it...a couple of hundred dollars) or you can talk to a real estate agent to get a CMA (comparable market analysis) done on the house to help determine value. Typically, real estate agents will do a CMA for no charge in the hope that you will eventually list the home with them.

If you accept the offer, the buyers lending institution will order an appraisal to make sure the home is worth the money that they are lending. If the apppraisal does not come in at the purchase price, depending on how the agreement of sale was written, the complete transaction can end up cancelled and you stay in the house.

Regards,

Joe Finnerty
Long & Foster Real Estate, Inc
Bethlehem, PA 18020
610-865-7776