You really need to explore exactly why the property is not selling. It has to be one or a combination of the big three....price, condition or location. Seeking the advice of trusted advisors and/or real estate professionals is a great idea.
I hope this helps. Best wishes in getting your property sold!
Renting is always a good second option. I guess I would have to understand why your property is not getting showings? Is it the price,condition or location? Not sure where your property is. It appears you are from Albany and I taxes are high in Albany. Perhaps you should interview other agents for their expert opinion on the three main factors for listing and selling...price, condition and location.
The other thing is...we are in the holiday and winter months now and your home may not rent as quickly as you would like. We do credit checks on tenants and unfortunately many cannot pass the credit check. So...rentals can take a few months be become occupied.
I would keep your house listed for sale and also list it for rent. Get opinions from other agent and possibly change the listing price if it is overpriced.
Please give us a call if you would like to make an appt for me to do a free current market analysis on your property. Thank you.
A local real estate agent can give you information on the market condition which should help you in the decision making process.
There are a lot of complications that come with being an out-of-state landlord and many people find that it is more trouble than it is worth. In my experience, the property is usually damaged from renters more than the landlord expects or would allow had they been in-state and finding a good, reliable tenant is a challenge if you are in-state or out-of-state. Make sure you are fully prepared to accept the challenges and entrust someone to the care of your home if you decide to rent. Above all, you need to protect your investment, and that is definitely not an easy task when you are not there to care for it.
Do you have a real estate agent working to sell your home? Have he/she run a current market analysis on your home to see if your listing price is reasonable in the current market? I would be asking your agent his/her advice and go from there.
If you are not currently listed with an agent and would like more information, I would be happy to help. I am available 8am-8pm every day and work all over the capital region.
Bliss Properties of NY
NYS Licensed Real Estate Salesperson
I would be happy to take a look at your home and run current market analysis for sale and for rent if you are interested. Call or email me anytime. Thanks.
Selling houses in 2011 is no longer about the old tricks of the trade. In a competitive buyer's market you need sophisticated marketing tools and aggressive online advertising.
Alexander H. Monticello, Esq.
Principal Broker &
Are you working with a REaltor where your home for sale is located? You should.... The Realtor would be able to market and advertise your home for both
a) for sale and you may have to prepare it stage it in some way for faster sale, and may be adjust
the asking price a good realtor will help you there with a good market evaluation
b) that same realtor at the very same time, immediately also put the home on the market for rent
So you market it both ways, something will take hold
For both though you need the expertise and experience of a good local Realtor who is familiar with
homes for sale as well as the rental market.
Good Luck to you
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
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get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
It seems to me that you have two issues; the first being why you don't have any activity on the home you are trying to sell and the second is about renting the property. If there is no activity on the property for sale you need to be talking with your realtor(I assume you have it listed with a realtor) about marketing strategies to get more traffic and eventually sell it. If you had had showings, offers etc. and it still hadn't sold that is one thing, but no activity begs some inspection. That is the solution to your problem and I would certainly look into that first, before you make a decision on renting it.