Let me know if you have questions or would like an evaluation. We're right in the neighborhood.
Suzanne M. Berner
Prudential/Buccelli Real Estate
368 Highland Ave
Somerville, MA 02144
Our recommendation is to contact a local real estate professional to support your interests. This will accomplish a couple of important things for you. First, it will provide for you a hands on account for the local real estate activity for this area. Your best information will come from someone that is actively involved in the market in which your home is located.
Secondly, with their local insight, they will be able to provide you with a realistic asking price for your property.
Here's our take....many sellers hae taken their properties off the market and opted to rent them but with the recent initiatives and interest rates being favorable many of these people will soon be exploring their options and considering putting their property back on the market.
Our recommendation is if you are serious about listing your home do it sooner than later......and price it RIGHT immediately. There are buyers but they are all looking for value.
If the economic stimulus bill passes with the tax credit (senate version: $15K) I think the market will pick up, and this will be a good year to sell. (Actually, it is starting to pick up already. I took buyers to an open house yesterday, and there were dozens of families looking, and 4 offers!) Plus Somerville and Cambridge have weathered the market better than most parts of the country, so you may do OK. There is only one condo for sale in Teele Square right now, too.
As others have said, you will need to get a price and advice from an agent who actually views the property.
As somene who owns a rental property out of state (Virginia), I can empathize with your concerns about maintaining it from a distance. It helps that you have good tenants! Good luck and let me know if you have any ohther questions.