Home Selling in 23060>Question Details

Nancy, Both Buyer and Seller in 23060

Is this a good time to rent or sell in 23060 innsbrook area? 1850sq ft 3 beds 2.5 bath? Must do one or the other. House has all updates.

Asked by Nancy, 23060 Wed Dec 1, 2010

Help the community by answering this question:


I don't look at it as good vs. bad time to sell. I look at it as need based. If your situation calls for selling or renting, then that's what you should do. Just as a buyer will buy when it meets their needs. However, it is an appealing time for many to buy since mortgage rates are still low and there is still a good selection of inventory to pick from. You stated your home has all of the updates, so that is a big plus in your corner for selling. Good luck and let me know if you need any assistance.

Shannon Milligan
Keller Williams Realty
7231 Forest Ave. #303
Richmond, VA 23226
0 votes Thank Flag Link Sat Jan 22, 2011

You have gotten some great answers. I believe that you see now that you could try to do either or both at the same time. If you don't get any offers to purchase the property but find a great renter that wants to give you a year's commitment, then you can opt to rent the property and at least get the benefit of money coming in.

Selling in this market can be difficult, but still can be achieved. Pricing your home right and having it staged to attract buyers is very important. (The nicest, prettiest, best priced homes are selling!) That is also true with offering it for rent.

I am an Acredited Staging Professional as well as a licensed REALTOR and I would love to have the opportunity to assist you with your property. Our company offers a discount listing package that I would love to have a chance to discuss with you that would save you thousands if you sell. Please call me at your earliest convenience if you are interested on my cell at 804-972-9927.

Tina Beasley
Associate Broker
Envision Real Estate, LC
804-972-9927 Cell Direct
804-262-0001 Broker Office
0 votes Thank Flag Link Wed Dec 1, 2010
Dear Nancy- If I am understanding your question correctly, to answer your question; I would say it is definitely a buyer's market currently, but with that being said, if a home is priced and marketed well it will sell. To the answer you about the rental market, it is definitely strong but keep in mind the cons of being a landlord and make sure that financially you can afford the risk of possibly covering the mortgage for three or four months in the event that a tenant does not pay and having to evict them, along with the added cost of possibly fixing any damages, replacing appliances that could occur with tenants to get the home back in sale or rentable shape. Feel free to call or email me should you have any questions or would liek a free market analysis on your home and/or can put you in touch with a good property manager. I currently am working with five buyers looking in the West End. Good luck with which ever path you decide to take!

Ryan C. Sanford
Branch Vice President
Supervising Broker
RE/MAX Allegiance
Richmond Office
13204 Hull Street Road
Midlothian, VA 23112
804-218-3409 direct mobile
866-744-5239 direct fax
866-416-1200 office
0 votes Thank Flag Link Wed Dec 1, 2010

Another option for you is Rent To Own. Our exclusive RTO program is working for many sellers who are not able ir do not want to sell at this time, but also do not want to take the risk of just renting. For more details on this program, call or email me.

Maureen Schmidt, Broker
EXIT First Realty
Glen Allen, VA 23059
(804) 527-3948
0 votes Thank Flag Link Wed Dec 1, 2010
Hi Nancy,

If you have to sell or rent I suggest sitting down and making a list of the pros and cons of both options as both offer different solutions and problems.
For instance:
SELLING: depending on when you purchased you may be losing a lot of equity that you invested into the house, or may even have to bring money to closing. But the house would no longer be under your maintenance and you would not have to worry being a property mannager for renters.
RENTING: can you rent your house at a price that will cover mortgage, insurance, and real estate taxes ? If so, this can also be a great tax investment. If this interests you I would consult a tax advisor. One problem is finding a great renter who will keep the house in great condition so you could sell it in the future.

One thing I would avoid is renting the house with the intention of putting it on the market with renters in the home.

There is never a right answer for everyone. If I can be a sounding board for you to decide please feel free to contact me.

Betty Hesaltine
Sarah Bice & Associates REal Estate, LLC
0 votes Thank Flag Link Wed Dec 1, 2010
Nancy, As a broker and homeowner in the Glen Allen area, I will say that now is a very good time to either sell or rent. The question is: what's the best EXIT Strategy for you? I cannot give you a specific answer to you question until I have the whole picture. If you would like to meet with me for an hour, I am available at your convenience.

I look forward to hearing from you soon!

Maureen Schmidt, Broker
EXIT First Realty
Glen Allen VA 23059
(804) 527-3908 ext 205
0 votes Thank Flag Link Wed Dec 1, 2010
Dear Nancy,
Historically and in normal times, this would be a slow period. However, these are interesting times in terms of Real Estate. The inventories are low so there is not much to pick from in my area. This is good for the sellers and serious buyers are more apt to make a decision obviously based on inventory. Everyone thinks that they should list in the Spring but there aare many more homes on the market during that period of time. I sell a very good amount of homes to both buyers and sellers in December and January. People either relocate, move up or move down. So there is a very decent amount of activity that I can attest in my area.
Sounds like you have all the upgrades. Is your home declutterer and staged? If you decide to list, do everthing you can to thin out your home and make it show more spacious. Please feel free to contact me if you have any questions as I also have the ability to help you pick the top agent in your area. (You should inteereview 2-3) You can visit my website as well and look under sellers.

Good luck!
Frank Dolski MBA, ABR, e-PRO
Associate Broker
CARTUS Certified Relocation Specialist
215-794-1070 x103
Web Reference: http://www.FrankDolski.com
0 votes Thank Flag Link Wed Dec 1, 2010
I just send answer.My name is Steve Johnson and can be reached at 804-475-6660 or steve.johnson@longandfoster.com
I would be glad to schedule a time to give you a free detailed market analysis of your home

Have a nice day
0 votes Thank Flag Link Wed Dec 1, 2010
It would really depend upon how long you have been in house and what you paid.In this current market you must sell cheap in order to move home in short time.Renting is always a good investment.If you are in position to buy and not sell your home,I strongly recommend renting.Real Estate,like stock market, is always good long term investment.You should consult a mortgage person on your qualifications for buying without selling

Thank you
0 votes Thank Flag Link Wed Dec 1, 2010
A well maintained home can sell in any market if it is priced right. People will always need a place to live so if you carefull check the credentials of prospective renters, that option may also work for you. I would love an opportunity to preview you home and discuss those options with you. Rates are extremely low right now and serious buyers are getting off the fence and making moves to get approved for a loan so they can finally move forward with their home buying decisions. Visit me on line at http://www.dorarabb.richmondexit.com, email me at rabbs2@msn.com or feel free to call me at 804-920-0113
0 votes Thank Flag Link Wed Dec 1, 2010
It's a fine time to sell- there are always buyers-- but it really depends on your situation. I assume you are thinking of selling your home? A buyer will depend on your situation & what you choose to price your home at. You will want to have a CMA- Current Market Analysis - which can be done for free by a Real Estate agent. I'm happy to assist you or recommend someone to you a little closer. If you over price a home, there is no reason to sell because there are no buyers.

Given the recent decline in market prices, it's a better time to buy than rent, if you can qualify. Rates are lower than they have been in decades!! FHA loans are assumable which means if you get a 4% rate and in 5 years rates are 7%~ you can use that 4% rate to entice buyers into assuming your loan.

Plus- rental rates are close if not more than some mortgage payments that include principle, interest, taxes, & insurance.

Visit me online http://www.barnett-homes.com or call me anytime 540-533-4793

Beth Barnett
0 votes Thank Flag Link Wed Dec 1, 2010
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