That being said, the market is only getting worse. Selling now would be recommended to cut your losses. We aren't going to see $400k houses in 90065 for a long time. Call me, I've got buyers galore.
In a buyers eyes there are some "good deals" in the area of 90065 - My home office falls in that zip code.
However, depending on the location and where your house is, on the hill or in the flats, both will be a factor in the pricing of your home. Further, you may be in a good position to sell if you purchased your home a few years back to walk away with cash in hand!!!
I would appreciate the opportunity to learn more about your home and should you want to list, the chance to interview for the position (by skype or phone).
Last, should you choose to keep your home as a future equity investment, you may want to consider a property manager to oversee the property and act as a buffer between you and your tenants.
Please call me with any questions.
Taylor Real Estate
(funny thing about the termite issue, there isn't one. The whole house is framed with redwood! And the entire inside of the house has been redone in the past few years)
I thank you all for your input and thoughts on the question. It helps give me some perspective on what to expect.
Personally, I prefer to deal with traditional sellers vs banks. The banks are so backed up and short on staff when it comes to foreclosures that its very hard to get answers on a timely basis. You do have to compete on your pricing with the banks, but with that understanding, its much easier to work with a seller than a bank for me. My clients are much more concerned with the price of the house instead of whether its a REO or not. A house is a house regardless of who ownes it, its always going to come down to pricing.
Best of Luck,
As a Realtor, I would always prefer to deal with a traditional seller than a bank. Sellers are usually much more willing to negotiate & do repairs & termite work. I try to steer my clients to traditional sellers because they will have a more positive experience than buying a foreclosed properties. That being said, most buyers perceive foreclosures & even short sales to be a better value, though I haven't seen this yet.
Keep in mind if you sell, you need to be priced competitively with the foreclosures & short sales. Best of luck.