Are home prices in Sunland expected to rise in the next 3 - 5 years? If yes, what is the expected rate of increase? (anyone with a crystal ball?)

Asked by jas888, Sunland, CA Sat Dec 1, 2012

I own a home in Sunland. Zillow estimate $300K. Loan balance $390K. Considering to short sale due to divorce and commute. Rent versus buy...having a hard time making a decision.

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Bill Eckler, Agent, Venice, FL
Sat Dec 1, 2012
3-5 years could be a life time......a visit to a good attorney may help to clarify your options. Don't wait!

Good luck,

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Edith Karoli…, Agent, Winnetka, IL
Sat Dec 1, 2012
If you need to sell, have an experienced area Realtor give you solid market evaluation, let him show you similar homes on the market so you can compare for yourself and see if you can sell it, only then
see if renting is a solution for the next few years.

You know it all depends what is happening in your area, the size of your home, style, updates,
floor plan, curb appeal and so many more items. So read below James gave you some good insights.
But really in order to know better the value of your home, a Realtor with expertise needs to see it.
And then yes, after all that comparing to other homes competing with yours, and a good market friendly pricing, you will still depend on a buyer who will be ready and willing, pre-approved, and who
will fall in love with YOUR home, but if you can consider renting, then you can put your home on the
market for both sale and rent and see what happens. You do need a good Realtor on your side.
If you need recommendations get back to me... Always glad to help with some recommendations.
Most Sincerely yours,

Edith YourRealtor4Life
Working always in the very BEST interest of her clients
@Properties Relocation and worldwide Services
Free Market Evaluations & daily new listings for Buyers/Investors
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James Sanchez, Agent, Burbank, CA
Sat Dec 1, 2012
Hello Jas888, I live in Shadow Hills, very close to your property. I can't tell you the amount of increase per year over the next or 3-5 years, but what I can say is..... Zillow is wrong on value... keep in mind they go off what has sold in the area and average it out. So they compare foreclosures, all cash sales, property that needs to be rehab, short sales and give you an estimated value. This is not how you determine value. I can say the average 3 bed 2 bath in Sunland starts at $340k and goes up from there. Have I seen homes for sale in Sunland for high 3's low 4's, yes. Keep in mind if you owe 390k then you would have to sell for close to $420k to walk away with a little bit of money in your pocket, once you factor in closing costs and agents commissions. Also the closer you are to the mountains or Tujunga the higher your value could be.

You will never know what a buyer is willing to pay for your property or how much your property could sell for unless you have an agent come out and give you real comps on your property.

Good luck with your decision.

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