Home Selling in 98007>Question Details

nancyiarmstr…, Home Seller in Redmond, WA

I'm curious as to what this could be listed for as ideally we'd rather unload it than be landlords.

Asked by nancyiarmstrong, Redmond, WA Wed Mar 6, 2013

We have a renovated condo/townhouse accross from the microsoft campus near NE40th. We are renting it out because of the market and not being able to get what we owe for it. Zillow estimates it very low $170, its 1160sq ft, 2 bedroom, 1.75 bath, carport etc., no private yard.

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Dear Nancy,
After running a quick comp for you in "The Green" in the past 180 days there was one short sale - 2 beds, 1.5 bath 1131 sq ft. not remodeled unit that sold for $135k. Currently there is one other unit that is "Pending Inspection" @ $243k. and it is a 2 bed, 1.25 ba, nicely remodeled. Inventory is extremely low here now and I feel confident I can help you sell your unit for $$240-$260 depending how quickly you want to sell. I also offer a 1% listing fee for full service. Visit my website for more information.
1 vote Thank Flag Link Wed Mar 6, 2013
If you are underwater on a loan originated before 2008, Bellevue attorney Bob Penfield can negotiate a loan modification or short sale with the bank's legal department based on the idea that their mishandling of securitization of loans has made them unenforceable through foreclosure. The concept is explained here:

0 votes Thank Flag Link Wed Mar 6, 2013
If you are unable to get what you owe for it a Short Sale could be a solution if your circumstances among other things allow it. I just helped a home owner who was behind on his payments sell his home for less than what he owed and we avoided his home being foreclosed on. Give me a call to discuss this option as well as other options. I would be happy to help.
0 votes Thank Flag Link Wed Mar 6, 2013
A good real estate agent will always be able to give you a more accurate picture of what you could sell your property for than a "zestimate." I would recommend interviewing a few agents in the area and having them give you their opinion on this.
0 votes Thank Flag Link Wed Mar 6, 2013
I should have said, "its the best Sellers market'.
Trulia doesn't have an edit feature once we've posted our remarks.
0 votes Thank Flag Link Wed Mar 6, 2013
Nancy- I just closed a sale on a unit very similar to this In "The Green" last week. I would be happy to discuss your current situation and the current market conditions with you. I live and work in that area and would be happy to have a no obligation chat about marketing your home. Click on my profile and give me a call. Thanks.
0 votes Thank Flag Link Wed Mar 6, 2013
Hi Nancy,
Inventory levels are still very low and it is certainly a good time to get a good home on the market. Zillow is a fun toy to look at home values, but not a good tool to use. I would recommend having a professional realtor provide a Market Analysis for your condo. I say that because there are many factors that will come into play with the actual list price and eventual sale price for you home.
I know the area well that you are talking about and have successfully listed and sold condos there. Is your home in the green condominium complex.
right now if I was going to list a condo in that area with out seeing it, a range I would feel comfortable saying would be between $201k-$210k. Again, you mentioned a renovated condo....so too many other variables to consider, but figure you came here wanting some idea. again, dont hesitate to ask myself or any of the other qualified, professional realtors here for a detailed analysis...it is a service we provide with no expectations from you at this stage.
it does appear there may be alot more to your circumstances....feel free to contact me privately to discuss.
Good luck,
0 votes Thank Flag Link Wed Mar 6, 2013
First things first, Zillow in the Seattle market is within 5% of the actual selling price of the Zestimates only 36.1% of the time, so while it's a place to start, don't rely on Zillow or any other automated valuation for a selling price.
If your home is nicer than the comparables, more up to date and presented well, it will sell for more. The only reliable estimate of market value comes from an experienced Broker who works the market and knows the inventory.
No doubt you've been reading about the inventory shortages. This is the best buyers market we've seen in a while. The values won't be back to 2007 peaks yet, but they are better than they have been lately.
If you want a reliable idea of what you can get, call me or another great agent and we'll be glad to give you a no obligation Market Analysis.
0 votes Thank Flag Link Wed Mar 6, 2013
Its not haper hill area, i'm not sure where that is. Its "the Green Condiminium" just off 148th before NE 40th by Microsoft.
0 votes Thank Flag Link Wed Mar 6, 2013
I am curious if your townhome is in Harper Hill? I know this community well and have sold there before. I will gladly prepare a market analysis for you to give you a better since of value. Feel free to reach out to me if I can assist you with curnching numbers including providing you with something called a net proceeds sheet that will allow you a better idea of an estimate of how much $$ you will walk away with in the end.

Good Luck!

See currently listed Townhomes / Condos in Redmond: http://www.searchseattle.net/idx/search/a3f390d88e4c41f2747b…
0 votes Thank Flag Link Wed Mar 6, 2013
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