I agree with you, homes in your market are selling very well.
You have a few options,
you can keep the home and do nothing,
you can renovate the home and live there or rent it,
you can hire an agent to sell it for you or you can sell it yourself.
There are advantages and disadvantages to each.
In this active market homes priced right attract many buyers and many offers. If you are considering selling get a few market analysis and see what each agent has to offer you.
Several very energized Boston real estate professionals have provide you their telephone number.
As a serious seller, you should give a couple of them a call so you can have a set of value numbers from which to work and make informed decisions.
Your situation will have a significant bearing on the best decision to make.
Your purpose for selling should be shared with these agents so everyone can be working towards the same goal.
How quickly you need to get this sold is the final element in the equation.
If you are serious, pick up the phone and call one of the agents who have provided their telephone number.
When you say that your home is assessed at $177k, I assume that you are talking about the city's assessed value that they use for the purpose of setting your property taxes. DO NOT confuse that number with the fair market value of your property as those two numbers are almost always VERY different amounts.
If you're thinking about selling the property, you should absolutely hire an agent who will put the house out into the marketplace and expose it to the highest number of possible buyers. You might be able to find a buyer yourself through private means, but without exposing it to the whole, wide world, you may wind up selling it for a lot less than you could have.
What you have is a one-time opportunity to sell a very valuable asset the right way and maximize your return. If the building needs some work, don't let that make you feel like it's going to hurt the value as much as you might think. There is a SERIOUS housing shortage in the Boston area right now and developers are having a hard time finding properties that they can buy, improve, and resell to keep their businesses going.
If you have any additional questions, I'm happy to help out.
Elizabeth Perez Barletta, Esq.
p: (617) 720-0099 x:110
I am a mortgage professional in MA. One concern depending on condition may be if the house can even get financing. Another reason to contact a top realtor. If you would like a referral to one in your area feel free to contact me. Best of luck. Ed
You should really consider having a broker come out to give you a proper market value on your home in the form of a comparative market analysis (CMA) or other price opinion tool. For a four level home in the South End, I doubt the assessed value you mentioned above and the market value are equal. After knowing the potential value of your home, you will have a better idea of how to market the property. A broker can offer guidance and suggestions on how to reach an appropriate target market based on area and condition of home, and other distinguishing factors. If you would like to discuss further, I can be reached through Trulia, or via the information below.
Best of luck,
Danielle M. O'Brien
MBA, ABRÂ®, SFRÂ®, REALTORÂ®
Broker Associate & Director of Marketing | Patch Realty Group
Mobile - (508) 989 â€“ 1989