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Market Conditions in 95822 : Real Estate Advice

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  • Home Buying8
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Activity 2
Sat Oct 17, 2009
Ute Ferdig answered:
Hello Eileen. You can go to www.rentometer.com and put in the property information to get an idea of how much your house should rent for. Please keep in mind, that there is also value to having a tenant that takes care of the property and pays rent on time. If you already have a good tenant, you may want to keep the rent at the current rate even if you could get a little bit more. I hope this helps.

Best regards,

Ute Ferdig,
Broker-Owner
DRE # 01326917
Ferdig Real Estate Solutions
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Sat Oct 17, 2009
Teri Andrews-Murch answered:
Eileen,
Thank-you for the update below.
If you need to put more money in your pocket now, have you considered a re-fi :NOT to take money out, but to get a better interest rate and have a lower monthly payment because of the lower principle balance.
If you will need more income down the line, you seem to be less than 10years from paying it off, adding more principle payment would accomplish that faster. Talk to your tax advisor

Also you may want to invest in a home warranty to cover those items that are going to start to need replacement- companies include American Home Shield, Old Republic Home Warranty, Fidelity Home Warranty, just to name a few. Costs is usally about $350-400/yr. Just make sure your tenants know to call you or the home warranty company for any problems (not just pick a repairman themselves)

Keep your homeowners insurance updated too, protect your nice little nest egg.

Teri Andrews-Murch, Realtor®, SRES®
DRE CA Lic # 01734030
Lyon Real Estate
1900 Grass Valley Highway, Suite 100
Auburn, Ca, 95603
Direct Ph: 530-798-0215
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