Home Selling in 53703>Question Details

Scoot, Home Seller in 53703

I own a 3-unit (3 level) rental house in downtown Madison but am moving out of the area. It will be tough to manage. Is now a good time to sell?

Asked by Scoot, 53703 Mon Jan 10, 2011

The property is an older home, but over the past 7 years we have updated frequently (new windows, appliances, flooring, paint, etc.) It will not be a necessicity to sell now, but it will be difficult to manage the property if not in the area. I am wondering if it would be a good idea to try and sell now or wait to see if the market improves.

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6
If its possible rent it, you might thank yourself later.
Web Reference: http://EveryListingNow.com
0 votes Thank Flag Link Sat Mar 5, 2011
Oddly enough the down town Madison market is HOT.....any home that has been updated and shows fabulous will sell. Remember the University and Hospital employee many professionals that find walking and biking to work most enjoyable. The isthmus area above all areas in and around the Dane County area has maintained its value. What does not sell are homes that need major work and still the sellers expect top dollar. Something also very important to consider.....because it is harder to purchase a home the rental market is at a high. This means any investment application is of more value right now. So Yes it is a Great time to sell in your area.

Drop me an Email - I would love to help you out.

All my best,

Donna Birschbach - Keller Williams
birsch@chorus.net
0 votes Thank Flag Link Fri Jan 21, 2011
Hi Scoot,
Have you considered hiring a Property Management Company to handle your investment? I would recommend you not sell at this time, but have your rental professionally managed.
Web Reference: http://www.cbcworldwide.com
0 votes Thank Flag Link Thu Jan 20, 2011
Good Morning Scoot,

Is your property rented to mostly the college renters? The downtown is very desirable, but marketability, for rentals, all comes down to cash flow. How much income does the property produce - what expenses do you have?? If you sell the property at a price that will produce positive cash flow, then you should not have a problem. Let me know if you need an agent - if not me, then I know people closer to your area.
0 votes Thank Flag Link Sat Jan 15, 2011
You can placed the property on the market for sale , lease , lease purchase and THEN locate mgmt company manage the rental for you.

Confer with CPA for all your tax write offs for rental property

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 Tue Jan 11, 2011
If you are ready to sell, and want to sell, anytime is a good time to list the property on the market ...unfortunately, none of us can answer with accuracy as to where the market will head tomorrow or down the road, what we all know is today.....
0 votes Thank Flag Link Mon Jan 10, 2011
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