Home Selling in 33176>Question Details

miamida9, Home Owner in Miami, FL

Looking to possibly sell or take a Home equity loan to pay off all debt and be debt free. What should I expect to list for?

Asked by miamida9, Miami, FL Tue Jun 25, 2013

I live at 10651 sw 108 ave #3a Miami, fl 33176. The unit under me (2a) which is a 2/2 sold for $101,000 last month and had all of the original fixtures from 1975. My unit is a 2 story 1bed 1.5 bath. My unit currently has the half bath and kitchen completely renovated ( complete tear down and rebuild ). Also had recessed lights installed throughout the house and updated the baseboards throughout the house as well. I owe 57k on the unit currently. I'm confused as to what my unit could be worth and what to ask for since I did a lot of updating. If I do sell it would be within the year, If I take out a Home equity loan, I need to be realistic with what to look for.

Help the community by answering this question:


Hi. I noticed only 3 units were sold in 2013. All were 2 beds and 2 baths between 101k-109k. There are no current listings in the development. The adjustment in appraisal would be for 1 bed and 1/2 bath and upgrades. Price won't be significantly different from previous sales. As far as best alternatives for debt resolutions consult an financial advisor. Good luck.
0 votes Thank Flag Link Tue Nov 19, 2013
Hello Miamida,

My advice you is do not use the equity in your home to pay off unsecured debt unless you are 100% sure you will NEVER get in debt again!. I would hate to see you use your equity to pay off debt, and then in a year or two find yourself in debt again.

If you sale and net a profit, what will you do with the proceeds? Do you plan to pay off debt and rent or will you want to buy another home?

You may want to consult your tax advisor, and a financial planner on this issue.

I wish you the very best in this..

Kawain Payne, Realtor
0 votes Thank Flag Link Fri Oct 18, 2013

HELOC or Home equity line, you can go to Regions Bank and they will provided you with on base on the price of the house. (don't waste your money) You will have to pay closing cost unless they have a program for you not to pay closing fees, Your property may appraise around 70K -80K right now but right now you have the advantage to sell even higher if you desired.

If you listed your property now you maybe able to sell it for 90K to 100K but if you sell it right now next year the market is going to be completely different and we don't know if it will continue increasing, stabilized or decline.

I hope this information help you to make an smart choice.
0 votes Thank Flag Link Mon Sep 2, 2013
I would be happy look at this for you. You could possible be better off just refinancing the property and consolidating everything into one fixed rate payments. I could run numbers for you very quickly and give you an acutal figure and interest rate. Don't hesitate to call me. I have 17 years of experience in the mortgage industry. 239-471-9829
0 votes Thank Flag Link Wed Jul 3, 2013
Good evening,

I will be glad to assist you but we would need to start with a CMA (Comparative Market Analysis). It would probably take about 30 minutes of your time for us to meet. You can reach me via your favorite method.

Alberto Baca
The Keyes Company
0 votes Thank Flag Link Thu Jun 27, 2013
I would be glad to come without any obligation and show you exactly what sold in your building, what is currently pending and for how much. I will show you all listings sold in your neighborhood over the past three months and also those which did not sell because they were not priced right and did not get buyer's attention. I will show you what marketing and promotion tools I am successfully using to sell properties and how I can sell yours in the shortest time and for the highest possible price. I will show you why I am selling 5 times more than average agent. Please kindly contact me directly at meg@viviendarealtors.com
You can also check my profile and read the most recent recommendations from my clients.

thank you and have a great day!
Meg Sahdala
Vivienda Realty
0 votes Thank Flag Link Wed Jun 26, 2013
You should decide first whether you want to continue residing in the property or to move to a new location. The reason for this is that there will be costs of taking out a home equity loan, costs which you probably wouldn't be able to recoup in just a few months.

If it were me, I'd probably find the next place to move first, and then put the old property up for sale when I had an accepted offer on the new place. Right now there's just not a lot to buy out there, and your debt to income should allow you to buy a bigger place. Then when you sell, you can use the proceeds to pay off any existing debts.
0 votes Thank Flag Link Wed Jun 26, 2013
I will provide you with an accurate estimate of value. Keep in mind that even though your condo has been upgraded it is a 1/1.5 and the other unit a 2/2 investors are really focusing on rental return. Please call me so that I can further explain.
0 votes Thank Flag Link Wed Jun 26, 2013
call a local Real Estate agent, familiar with your area and ask for comps.
0 votes Thank Flag Link Wed Jun 26, 2013
Good morning,

I would have to check the comparative sales within your complex. If you are not in a hurry, we can start planning your sell, so we can start everything in six months or so. Let me know at your convenience.
Manuel Uribe
0 votes Thank Flag Link Wed Jun 26, 2013
Just call me, you need advise 305 519-3199
0 votes Thank Flag Link Wed Jun 26, 2013

It depends on what you're goals are, I would have to check the sales and also very important the pending sales which are indicators of appreciation trends. I'm a driven professional with over 12 years in the Real Estate Industry, call me I will be glad to help provide a value for you're property and answer you're questions, thank you.

Luis Giannattasio
REO/Short Sale Certified
Lic. Realtor
Cell: 786-326-6172
Xcellence Realty
Fax: 305-246-2525
Web sellingmiamihomes.net
0 votes Thank Flag Link Wed Jun 26, 2013
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