Home Selling in 32258>Question Details

Rroller, Home Seller in 32258

I owe 115K on a townhouse in Dunedin, FL. It's rented but I'm in the hole monthly about $300. Appox value 120K. If I had to get

Asked by Rroller, 32258 Thu Feb 2, 2012

out..what's best way? Also own/live in a townhouse in Georgia. Whatever I do in Dunedin situation can't affect my staying in my place in Georgia. May be out of a job in another year and need to know my best options for selling.

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Rroller , you have some good answers . But I am going to answer in a diiferent way since you seem like a very stressed owner . if you are afraid of loosing your job you are smart to start preparing now while you have options .I would agree cutting expenses now and not dipping into your savings is very important right now. keep your money in case you need it down the road. We need to put exact numbers together determine your best course of action. What happens with your Dunedin townhouse will not effect your Ga home unless you missed payments on that home. Conact me ronnie@1change.com and we can go over a few details to help you decide your next move. You need to do something before the next payment is due.
0 votes Thank Flag Link Thu Feb 9, 2012
I recommend you first talk with your CPA. You may find with your specific tax rate, expense write off from the rental and the depreciation of your rental unit you could be breaking even. The CPA can also advise you of options to consider.
Web Reference: http://www.cathysloan.com
0 votes Thank Flag Link Thu Feb 9, 2012
Dear Seller,
The real estate and rental market here in Dunedin and Palm Harbor are showing excellent signs of recovery. For instance Edgewater Arms, a waterfront, Dunedin condo community has shown a 30% increase in the past 12 months.

The best option for you truly depends on your situation. I know you believe you are near or underwater, but the delta you show reflects you may not be. The last townhome I sold in downtown Dunedin, I was the listing agent, the buyer brought $20,000 to the closing table because they wanted to live in Dunedin.

The best exit strategy for you will be determined at the direction of your tax adviser and/or attorney. How to sell, increase your cash flow, or otherwise stablilze your situation is worthy of a conversation with a real estate professional. Unfortuneately, each situation is different and must be evaluated on its specific merits.
If you think selling is a option, we can still catch the end of the snow birds and the start of the Spring Training bunch. Getting an opportunity to personally evaluate your town home will be critical.
Give a call if you would like to discuss this further.
Annette Lawrence
ReMax Realtec Group
727. 420. 4041
More information about about Dunedin on the community website: http://www.MyDunedin.com
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Thu Feb 2, 2012
I recommend three professionals, Attorney for Legal, Financial or CPA for Tax, and Broker for Real Estate. Because this question involves all three you need all the information from the experts in their field. If you don't have all three resources usually one of them can make the other recommendation to you.

All the Best to you.
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Thu Feb 2, 2012
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