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Selecting a Realtor is a crucial decision. As a longtime native of the Montgomery County, I am very knowledgeable of the local residential market. I keep up to date on changes in the marketplace and pertinent legislature so my clients have the most current data available to make sound decisions. I combine cutting edge technology with old-fashioned service, hard work and integrity. When time comes to invest or sell your next home or vacation property, put yourself in the hands of a knowlegable, competent real estate professional.
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Vanessa Plan
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Ephrem,
Do you owe more on your home than the current market value? If not you'll be able to sell it without any stipuations, like a short sale.
The key to selling it quickly in this market is pricing it properly.
Even if the rent would not exceed or be on par with the mortgage, if you can keep your home, please strive to do so.
Contact a local agent to help you with pricing information on both selling and renting your home.
Also, can you rent out a room or two in your home? This can net you at least $500 a month.
Unless you are really in dire straits, (based on what you've outlined above) selling your home should be a last resort.
I hope this helps!
Thanks,
Vanessa. - Mon May 12 2008, 12:52
Ann,
It is affecting homes of all demographics. While statistics have shown that homes in upper price echelons are not as affected as lower priced homes, foreclosures are still occuring on "higher" priced homes.
Vanessa. - Sat Apr 12 2008, 08:33
Don,
The Arts District is a new development in Hyattsville. - Wed Apr 9 2008, 19:33
John,
You primary steps would be to
1) Ascertain your monthly expenditures on the rental property (estimate)
2) Contact a local real estate agent for a list of comparable homes that have been rented recently to determine an asking rental price.
3) Research the landlord tenant laws in PG county to ensure that you are aware of any potential issues.
As an investor and former property manager of my own firm, I found that these steps to be helping in obtaining and renting out investment property. - Sun Mar 30 2008, 08:40
Susan,
If the home is vacant, you can try contacting your local housing opportunities commission.
They can help you market it to HOC tenants and can get you a tenant faster.
Shortsales and foreclosures are last options, worst case scenarios. You never know when you will need your credit so you'll want to protect as best you can.
Thanks,
Vanessa. - Wed Apr 9 2008, 19:24
Susan,
Call or email me. I know a real estate investor who may be able to take it off your hands.
Thanks,
Vanessa. - Wed Apr 9 2008, 18:51
John,
I just asked myself this question as we're in the market for a new home.
I figure that, prices are set to drop further as buyer demand is largely absent.
Will resales fall? Not quickly if sellers don't set realistic prices.
Resales may offer more negotiating room, based on the seller's situation.
If you find a builder that has a home you like and can comfortably afford, then buy, else wait.
However, not even I will deny that there are some GREAT builder deals now!
If you do decide to purchase, don't forget to take your agent along on your VERY FIRST visit to the builder's site.
I hope this helps.
Thanks,
Vanessa. - Wed Apr 9 2008, 19:02