Home Selling in 32806>Question Details

Dan Kruse, Real Estate Pro in Orlando, FL

Hello, I own a home on Lando Lane and it is currently rented. The renters are moving out and we are

Asked by Dan Kruse, Orlando, FL Tue May 13, 2008

considering either finding new renters or putting up for sale ... also we are considering an offer to lease/purchase option with a 2 year lease ... any advise out there?

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8
Hi Dan,

Can you share with me the rent you are asking and the size of the home?
0 votes Thank Flag Link Thu Aug 2, 2012
hello--I am interested in buying a home in the Pershing area. Can you tell me about your house?
Thank You glaized@yahoo.com
0 votes Thank Flag Link Fri Aug 13, 2010
Dear Dan,

First, let me share some observations on renting. Many property owners who have failed to sell their properties in our present market (I'm not including you) have become landlords by default. As a result, rental rates have plummeted, making cash flow appear more like a fantasy than a reality. Worse, many of these same property owners are renting properties they own under their name, rather than creating an LLC and transfering ownership to the LLC, to reduce potential liability. (Consult an attorney to explore this indispensible option).

Now, let me address the lease purchase option. Unless property values are at their peek in Orlando (and I know they're not) and spiraling downward rapidly, the only benefit to doing a lease purchase presently is to a buyer. Any buyer would love to do a 2 year lease purchase locking in today's price with the hope that the market will reverse by the time the option is exercised. If the timing is right, the buyer may potentially buy your property at today's price, when it may well be worth far more in 2 years. Not a good idea Dan!

Now, about selling now. If prices are falling in Orlando and the long term forecast is more of the same for your area, selling now makes perfect sense as a means to preserve your wealth.

On the other hand, if the forecast for your market is good, wait until then to sell.

Hope this helps!

For additional enlightenment contact me directly at.....

SERGIO HERNANDEZ
Downing Frye Realty, Inc.
Naples, Florida
239.206.4405
sergio@golftobeach.com
http://www.golftobeach.com
Web Reference: http://www.golftobeach.com
0 votes Thank Flag Link Sat May 17, 2008
Dan, I would not suggest a 2-year lease purchase. Maybe a one-year.. They can also get complicated. I would say look at Renting and maybe list for sale at the same time. I would be happy to meet with you and discuss further, just contact me to arrange a time.
0 votes Thank Flag Link Sat May 17, 2008
I live in the area & love your neighborhood ~ it's one of the most stable in Orlando ~ a downside is that surrounding rental inventory is extremely high & the rental income you now enjoy could change. A lease option will only work if you require a nice down payment as security against removing your home from marketing opportunities.

Also, 2 years is a long time to give a buyer to change their minds ~ would you consider a 1-year option? My firm provides a rental division from our downtown office and we work diligently to pre-screen your potential tenants/buyers. Additionally, I work with international & relocation clients and am available to meet with you at your convenience. Please don't hesistate to call if i may be of any further assistance ~ Vivian Katz, CIPS (407-367-9883)
0 votes Thank Flag Link Thu May 15, 2008
Hi Dan...the latest report from ORRA (The Orlando Regional Realtors Association) was the most optimistic I have seen in a year. We are coming into PEAK homebuying season... I would market the property with an agent that knows how to get exposure and see what happens. You can always run a Lease Purchase option at the same time. Want to see a Phenominal Exposure program? Call me at 321.228.8100 or email me at bdecosmo@cflmove.com . Thanks!
Brian DeCosmo- Charles Rutenberg Realty
Web Reference: http://www.cflmove.com
0 votes Thank Flag Link Thu May 15, 2008
Dan, how is the home selling coming? Do you still have your renters in the property? This is a tough market but the buyers are starting to come out and they are looking. Curb Appeal and presentation is everything with so many homes on the market. Staging the home is a great way to sell a home much faster in a challenging market. Might be challenging if you have tenants, but just wanted to offer that suggestion. I can always put you in contact with a GREAT ONE! I have included some of the things we do to sell homes in this challenging market. BTW, we do have some FREE FBSO Services that you might find helpful. Let me know if there is anything I can do to help.
0 votes Thank Flag Link Tue May 13, 2008
Feel Free to contact me - anytime.
-thank you for the conversation today.
407.227.9182 or 407.992.5887.
Web Reference: http://www.LeeRosa.com
0 votes Thank Flag Link Tue May 13, 2008
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