I have a 300,000.00 home in North pole. Should I rent it out till the market improves or should I sell for a?

Asked by Brad Mccue, North Pole, AK Wed Oct 31, 2007

loss? Home is close to FT WainWright off Holmes road. Across the street from Lakloey Airstrip. Property has RV parking and access to the airstrip

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Marty Van Di…, Agent, Palmer, AK
Sat Dec 15, 2007
If you are leaving Alaska, I think you should go ahead and take the loss. How do you know it will have to be a loss?

Very few homes in the Mat-Su Valley are selling for a loss. Most people can still get out of their home.
Web Reference:  http://www.valleymarket.com
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Chris Watts…, Both Buyer And Seller, Seattle, WA
Fri Dec 7, 2007
I would not rent a 300,000 home in a military community. First of all they might not be able to afford it for the long term and if they could they might only be there a short time.They could also possibly trash it or move on base housing if it gets to expensive. I have heard of bad experiences when it come to renting homes. Unless you have the time to every so often drive by and check your house and yard out.
0 votes
J.p. Tillery, Home Buyer, Miami, FL
Fri Nov 30, 2007
Couple of questions to ask yourself. Has it been on the market more than 45 days? Generally you should have atleast a couple of offers by then. A fact is that we are in a slow market. Are you willing to ride this out? What do you think some reason for your home not selling? Who appraised it? What do the homes in the area look like? Is your home landscaped? Are home beside yours landscaped? Are you still in the house? If not are you losing money? What type of unique incentives offered like closing cost, furniture, etc. Does the airstrip increases the home value for aviators, but possible decreases for someone who could care less about flying. Basically ask yourself what is the bottom line that you are willing to take without going upside down? If you are going to financially hurt yourself stay there and give it a couple more years. Last recommendation is to ask your Realtor for a weekly status report. Ask them for information on showings (and the feedback from showings), number of hits on the listing online, and number of times the listing was emailed or called on. If you had zero hits and its been on the market for atleast 45 days I would consider breaking even. Hope this helps.
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