Prides Cross…, Home Owner in Prides Crossing, Aur...

I have a home i the prides crossing area that I currently rent out. Is now the time to put it back on the market or should I wait another year.?

Asked by Prides Crossing Owner, Prides Crossing, Aurora, CO Wed Apr 20, 2011

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The question of whether to sel;l the property now or rent and keep for future value can become very clear to you when I give you a spread sheet that shows currentl cash flows, cash flows after taxes and your internal rate of return if you continure to rent out the property and this spread sheet which will also show you what you would net if you sold the house now versus what you might expect to net if you held the house for a certain number of years. All will be based on your current market value of the property which I will also show you through the standard comparative market analysis. Simply call, text or email me and I will give these valuable sheets to you and of course with no obligation. You owe it to yourself to get the straight facts and numbers concernin this valuable asset so don't settle for anything less from anyone.
Michelle Hall
Mobile: 720-394-4620
Licensed real estate broker/owner
0 votes Thank Flag Link Thu Apr 21, 2011
Hello Prides Crossing Home Owner,

Did you end up selling your home in Prides Crossing? In case you didn't, now may be a good time to put it on the market. There is only one home currently available for sale in Prides and demand. For years there's consistently been between 24,000 and 32,000 homes available on the market in the Denver metro area. Right now there's just over 14,000 homes available and many of them are short sales, foreclosures or HUD homes. If your home is in good condition you might want to get it on the market now instead of waiting until spring when most people like to put their homes on the market. The lack of inventory is making it a bit difficult for Buyers to find a nice home right now. Currently I have an offer in on a home for one of my Buyers that wasn't even listed for sale. We're having to door knock to find homes for our buyers. We are running around asking other Realtors and Real Estate Agents if they have homes coming available that fit our Buyers needs. The nice homes that are priced fairly are getting multiple offers and selling a little over list price. Why wait till spring when you most likely will have lots of competition. Let me know if you want me to give you an idea of what it would sell for right now.

Sandy Kinslow
The Kinslow Team LLC
Coldwell Banker Residential Brokerage
0 votes Thank Flag Link Sun Nov 20, 2011
That is a yes and no answere!!
It really boils down to your loan balance and can you get out now. The big quetion is "are you able to get out!" I have sold Real Estate for 32 years in Aurora so I have the experiance to get a home sold. I have seen so often that sellers rent their homes because they can't sell it and they think a few more years. Can you aford to keep feeding the rental? Every year, what are you adding in depreciation on you bottom line? I have seen where the seller hangs onto the home and brakes even with cash then they have $40,000 gain on deprisiation they pay taxes on it and that really hurts. They think well if I wait a few more years and the value goes up a little to pay for the taxes you owe, it will be fine. Each year you keep adding more and more depreciation on to your gain and it get worse and worse. Check with your account!!!
Sometimes, the lose is great for your bottom line also.
If you think I can help you, feel free to call me at work... Jim Greer 303.693-9117 PS. I do have my listing under contract right now at a good price. or emai me direct
0 votes Thank Flag Link Sat Apr 23, 2011
Dear Homeowner, the spring is always a hot time to market your home. Sitting down with a broker and trying to determine your needs and reviewing some comps for your neighborhood would be the best place to start. I would love the oppotunity to sit down and talk with you. My office is located in the Southlands mall, give me a call. Lori 303-845-0387
0 votes Thank Flag Link Thu Apr 21, 2011
Dear Home owner-
I would wait it out if your tenant is strong and you are able to manage your mortgage well. The rental market is strong due to all of the foreclosures. You will need your home to be "sharp" and may need to upgrade it to make it competitve in the marketplace to sell right now.
Please call me next year when you are ready to sell it for the highest price in the shortest time

Kimberly Ryan
0 votes Thank Flag Link Thu Apr 21, 2011
This is a good time of year to put it on the market as we are gearing up for the Spring and Summer selling season. We put together a formal Broker Price Opinion for my clients and prospective clients. This in-depth analysis considers market conditions, marketability, listings, and sales. It is difficult to say if the market will be better a year from now. We have seen a lot of speculation on the size of the shadow inventory of foreclosures, increasing the down payment requirement, and possibly doing away with the mortgage interest deduction. We work with several investors who pay cash and can usually close in two weeks. Please feel free to give me a call or send me an email for more information on assisting you in this decision making process.

Thank you,

Justin Reyher
Exit Realty DTC
0 votes Thank Flag Link Thu Apr 21, 2011
I would also suggest getting a comparative analysis done on your home - the numbers will let you know if it is time to put it on the market. Depending on the mortgage you have on the home, and if the rental has a positive cash flow, it might be best to hang onto it longer. Of course, if the home's value is less than what's owed and/or it has a negative cash flow as a rental, then you'll want to determine how much it will cost you to sell it versus keeping it for another year or so. It's hard to speculate on appreciation for the next year in that neighborhood - I am showing homes there, and there are still a good amount of short sales and foreclosures coming & going, and it doesn't seem that will change too much this year.
0 votes Thank Flag Link Thu Apr 21, 2011
Hello Home Owner,

It really depends on what you are wanting to do. I would suggest getting a Comparative Market Analysis done by a Realtor to help determine what your home could potentially sell for and if that would meet your criteria. The median sold price for homes in the last 6 months in Prides Crossing is $213,500.00. That's based off of 10 listings that sold. There are currently 15 homes for sale in the Prides Crossing neighborhood. Talking with a Realtor could benefit you in determining whether you can achieve your goal and is usually provided for free with no obligation. I hope this was helpful and please feel free to contact me with any questions. Good Luck!

Jason Archuletta
Signature Realty, Inc.
Cell 303-912-9519
0 votes Thank Flag Link Wed Apr 20, 2011
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