I just bought a townhouse in the lorton area in December for $259K but what we really want is a house somewhere in Springfield. Any advice?

Asked by Lacurls, 22079 Thu Apr 8, 2010

Should we sell, rent it out or stay put?

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9
David Kyle, Agent, Alexandria, VA
Tue Jan 7, 2014
There are pros and cons to all 3 of your options. If you stay put for a year you can resell it and at least get a return for what you paid for your property with making probably a few updates to appliances, paint , etc. if you rent it and you can afford to and buy the property you are looking for then you can sell it when you can get the most for your return. Staying put in your new townhome will not change your positon on you not wanting to be there. So i suggest renting it out and buying the property you want in Springfield or Sell it when you can and buy the property of your desire.
0 votes
Robert L King, Agent, Alexandria, VA
Mon Sep 13, 2010
If you can afford it, keep it for a few more years until the market rebounds and you stand a chance of making a good profit on this property, I am also a property manager and would like to get together with you and let you know the ins and outs of owning a rental property. Of course there is no charge for the info that I am able to give you. Just give me a call and I will arrange an interview with you,
You can contact me at 703 229 2530 cell.
0 votes
Ernie A Le M…, , Fairfax County, VA
Wed May 19, 2010
If you can afford to rent and buy something in Springfield, go for it. You can always sell later when the market is more favorable to sellers.
0 votes
Glenn Stromb…, , Prince William County, VA
Wed May 19, 2010
Hello Lacurls

I work in the Lorton area. If you send me the address of the Lorton Townhouse, I would be happy to do a comparative market analysis to see were you stand now on market value. With that information, it will help you to determine what you would like to do next.

Glenn Stromberg
Long & Foster
Cell 703-987-8053
Office 703-495-6210
Fax 703-493-9004
Glenn.Stromberg@LNF.com
http://www.glennsmyagent.com
Web Reference:  http://www.glennsmyagent.com
0 votes
Ernie A Le M…, , Fairfax County, VA
Sun Apr 11, 2010
Dear are severral single family homes available in Springfield. Tell me the price range you are looking for, and we will see what we can do for you.
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Erik Weissko…, Agent, fairfax, VA
Fri Apr 9, 2010
Really it depends. I will be in Lorton tomorrow morning and I can tell you first hand..the good properties are indeed moving quickly. These have been single family homes in the 500's. You should get a good assessment of your property...what it would rent for..what it would sell for..and digest the numbers. If you are adequately equipped financially..then I totally agree with Carolyn. The more house you buy now the better your appreciation will be. Additionally I suspect you will stay in a detached home longer than in your townhome. You should also consult a tax advisor to see how the numbers work for you.

I suspect your townhome should sell quickly if marketed properly. Let me know if I can be of assistance. I do have rental property and am happy to share my experience.

Kind Regards,

Erik J. Weisskopf,ABR,CDPE,CRS,GRI
Erik@AskMeAboutHomes.com
(c) 703.216.1222
0 votes
Jennifer Riv…, Agent, Fort Belvoir, VA
Thu Apr 8, 2010
Hello Lacuris,
I would weigh the costs of moving vs the costs of purchasing a new home. I would be happy to set up a free market anyalysis for you to determine what you could sell your home for. I do offer incentives for clients who sell and buy through me, and Move4Free Realty pays for your move when you buy and sell through us. Another option would be to rent out your townhome and purchase another. Please contact me, and I would be happy to provide no pressure answers to any questions you may have. Please feel free to search my website for available homes and more information.
With Kindest Regards,
Jennifer
Jennifer Rivera
Move4Free Realty LLC
8405 Dorsey 201
Manassas, VA 20110
Office: (571) 292-5377 ext 112
Fax: (703) 542-4240
VoiceMail: (304) 952-8735
Email Jennifer@move4freerealty.com
http://www.Pentagonhomesearch.com
0 votes
Carolyn Thom…, Agent, Rockville, MD
Thu Apr 8, 2010
Sell immediatly and catch the seller's market!
0 votes
Vicky Chrisn…, Agent, Purcellvile, VA
Thu Apr 8, 2010
Well, it's likely you'll be taking a significant loss. It costs money to sell a house... brokerage fees, grantors taxes, settlement charges. If your home value has not increased about 10% in 3 months (and if it has -WOW), then you will be paying out of your pocket for all that.
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