Looking for Sell-Side Realtor Assistance, Townhouse, Salem, MA (Pickman)
I am looking at listing my property this Summer. I have a townhouse in Salem, MA (Pickman Park) that has extensive updates. I am not desperate by any means but would like to see if I can sell it and possibly just move into a rental for 6-12 months before seeking out a house for the family. I do not know where to begin in terms of talking to sell-side realtors and am not aware of any "lending tree" type site for finding a real estate agent so I figured this may be a good space to reach out to experienced brokers on the North Shore. You can find several pictures of my listing via the link in my profile.
Here is the link - http://tinyurl.com/nls8hh
My desired listing price would be appx. $270K. I am happy to connect with interested parties about their services.
KP-
The problem with selling in today's difficult financing climate is that the appraisals are done based upon square footage and comparative sales ONLY in the past 3 months. Almost all local financing is done through fannie mae/fha and they are not sympathetic to appraisers bumping values due to condition. It appears on a quick glance that the Pickman Park transfers qualifying to comp yours have been selling in the $235k to $250k range. Yes, if there were no PP sales, the appraiser would be able to comp you against other complexes, but they will be hard pressed to avoid the PP comps in favor of other more expensive complexes. In light of these facts, you could be putting your unit on the market for months, only to eventually find a buyer who is then unable to get financing due to comparable sales information available at that time.
Your unit appears to be in nice condition and desireable in the current market, but the pricing will be a problem for you.
Paul
If you have any other questions, or would like to discuss this situation, please feel free to give me a call.
KP-
The problem with selling in today's difficult financing climate is that the appraisals are done based upon square footage and comparative sales ONLY in the past 3 months. Almost all local financing is done through fannie mae/fha and they are not sympathetic to appraisers bumping values due to condition. It appears on a quick glance that the Pickman Park transfers qualifying to comp yours have been selling in the $235k to $250k range. Yes, if there were no PP sales, the appraiser would be able to comp you against other complexes, but they will be hard pressed to avoid the PP comps in favor of other more expensive complexes. In light of these facts, you could be putting your unit on the market for months, only to eventually find a buyer who is then unable to get financing due to comparable sales information available at that time.
Your unit appears to be in nice condition and desireable in the current market, but the pricing will be a problem for you.
Paul
If you have any other questions, or would like to discuss this situation, please feel free to give me a call.
Your townhouse looks very nice. Talk to you soon
Kelli
Hi KP,
I would be more than happy to assit you. I will take a look at your pics call or e-mail to set a meeting at you convenience
I look forward to speaking with you
Kelli Cassidy
RE/MAX Country Crossroads
978-979-2823
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