Home Selling in 06604>Question Details

Teresa Di Do…,  in Monroe, CT

I have a multi-family home listed in Bridgeport that has been recently reduced to $410,000. It has been

Asked by Teresa Di Domenico, Monroe, CT Fri Jul 11, 2008

currently owner-occupied for 35 years. All mechanicals have been recently updated and it is has good potential as an investment property. Any tips on how to better promote this listing?

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Hi Teresa,
You don't mention anything about the exterior of the house...does it have good curb appeal? Eventhough mechanicals are huge, many people still look at the cosmetics of the house. Do you have it listed on different websites like craig's list and have an expanded listing on Realtor.com? I find that having as many pictures as you can when listing a property is key. Good luck!!!
1 vote Thank Flag Link Fri Jul 11, 2008
Just make sure it is priced to sell in this economic climate. Just a tip. Mechanicals are a maintenance factor. It may make it more desirable, but it is something all property owners have to deal with. Again, if the mecjanicals were done today, you may not see the return immediately. Many buyers will ask for a credit or offer a lower price if the mechanicals need to be replaced before occupancy.
1 vote Thank Flag Link Fri Jul 11, 2008
If seller's objective is to sell now, make sure list price is closer to lower end of property value range, given the deteriorating property market and tightening credit? Second, see if owner financing is an option: this partially offsets tighter bank financing issues. Third, optimize web exposure and email: craigslist, zillow, yahoo, etc. are all low cost marketing platforms. Use email to get property infront of agents on periodic basis. Fourth see if barter is an option (trade property or other assets for his property). Finally, if you market as an investment, give market good idea of the numbers (eg. potential gross rents / list price is X%) and make sure it is the one of the best deals in the market.
0 votes Thank Flag Link Sat Jul 12, 2008
Hi Teresa,

If you haven't done so already you might want to get yourself a membership over at http://www.loopnet.com/ and post a listing there.

I hope that helps.

BTW...if it's in Black Rock, contact me.

I can be reached by phone: (203) 261-4900 or email: richard@richardrocco.com

Web Reference: http://www.RichardRocco.com
0 votes Thank Flag Link Fri Jul 11, 2008
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