This duplex just hit the market today. It is the one rental showing up in Northwest Crossing at the moment for under $900. The comments in the agents remarks state that it will be available to view on February 12th.
This question can only be answered by a few more questions really.
What is your motivation to sell? Are you looking to move up, down size, move out of town/state? Do you want to sell or need to sell (ie, underwater, financial hardship, etc.)?
If you're looking to take advantage of the First Time Home Buyers Tax Credit's recent expansion to include so called "move-up" buyers, it is definitely too early (must reside in the same home for 5 of the last eight years).
You can watch a video about that:
The second set of questions would revolve around your intentions after the sale. Are you moving to a new home, do you need cash to buy one (ie, down payment, closing costs, etc.)?
Of course, the home would need to be evaluated and these factors taken into consideration.
For example, let's say your house is worth $100,000 (these are just easy numbers to work with) and you owe $90,000 on your mortgage. Depending on how a sale was negotiated you might wind up with $3000 or less after commissions, closing costs, and any concessions you give to the buyer in the contract. As you can guess, that's not a huge help in the future purchase of a home. (Please note, these numbers are purely hypothetical - each case is different and a full seller's net sheet would need to be performed to give you the best idea of what you would have at the closing of your sale.)
I think your best bet is to gather your mortgage documentation (last bill and a payoff amount are usually good to have) and call an agent to let them show you the numbers. They'll perform a comparative market analysis on your home and show you what it should be worth in today's market. With those numbers in hand you can look at what the proceeds from the sale would be and get an idea if it makes sense for you to do it.
Typically, selling a home in two years isn't the best option, but like I said, with the many factors at play, it really depends on what your goals are.
Hope that helps!
Matt Stigliano, RealtorÂ®
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