Home Selling in New London>Question Details

Stephanie Ro…, Both Buyer and Seller in 03063

I have a condo to sell in New I have a 2 bedroom Condo 1 mile from the new electric Boat facility.What are the chance it will sell. It is also VA ap

Asked by Stephanie Ross, 03063 Thu Dec 30, 2010

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Please give me a call at 860-266-1200. I want to discuss the deal. It may be a direct sale. Thanks.
Web Reference: http://www.abreurealty.com
0 votes Thank Flag Link Thu Dec 30, 2010
I can defidentely answer your question. First a 2 bdrm condo is a plus, especially in New Haven. If you are where I believe you are located - - don't worry about that part at all. You see, condo sales are up and I have a good feeling you will be ok. Depending on your reasons for selling also matters. But being near an electric boat facility is not going to defer any potential buyers from your condo. Do you know the market value of your condo that is current? That is the top and most important information to know.
0 votes Thank Flag Link Mon Oct 10, 2011
Also Stephanie depending on your situation, motivation to sell and time frame I'd recommend a lease option or rent to own on your condo. Alot of benefits fro you the homeowner
0 votes Thank Flag Link Thu Oct 6, 2011
Virtual answer not to your benefit there are more question(s) be addressed. Best confer with a listing agent who can evaluate your property, comp the area, determine stat's for days on market.

HOWEVER you can have the prefect home, staged great location, exceptional floor plan, updated sit on the market for years. THEN have a ugly home, distressed with bidding wars.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Dec 30, 2010
Although the condo market in the New London area is very weak, it always comes down to price. Do you have a current mortgage and, if so, how much? That, of course, can dictate how low you can go on price. If you are upside down on your mortgage or close to it, you would be better off waiting until the market improves and you get back into an equity position. If you have a lot of equity, you can price your condo somewhat lower than the competition and, in that case, it might sell quickly. I would be happy to do a market analysis for you to determine where you would need to price your condo for it to have a good chance of selling.
0 votes Thank Flag Link Thu Dec 30, 2010
The condo has been around since the 1990's. It is not new construction. Please read the original post again. It is an assumable VA mortgage
0 votes Thank Flag Link Thu Dec 30, 2010
It is too early to determine what the market will bring in 2011.Obviously,being competitively priced is key. You mentioned that the complex is VA approved. That is good,better would be FHA approved. The complex would have to be completed,put atleast 10% of thier budget into reserves and have no remaining phases available for construction and it can be submitted.This opens you up for CHFA/FHA financing with 0 down.I have accomplished this with the help of McCue Mortgage in New London on other projects. Please feel free to contact me if you need a free market analysis or guidance for getting the project FHA approved.860-701-0600 ext. 209
Web Reference: http://leosplace.org
0 votes Thank Flag Link Thu Dec 30, 2010
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