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Market Conditions in Fair Oaks : Real Estate Advice

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  • Local Info5
  • Home Buying12
  • Home Selling1
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Activity 6
Tue Mar 19, 2013
Bruce Slaton answered:
I know your home Griv. Time of market can be affected by the price. Your best comp is 4800 Hangar Ct and that house was simply eye candy with stamped concrete, incredible upgrades inside and single story which is sometimes very important because homeowners trading up or looking for retirement typically like the single story model.

Your agent has some great photos on the MLS, your homes curb appeal is great as well. You may just be a little outside of the price range buyers are looking for in that area.

How has the feedback been so far? Any offers at all? I see you reduced your price a bit but you may have to entertain another price reduction. Just FYI, most homes in that price range sold in 3-8 days with one taking 95 days. 67 days on the market just might be an indication you are outside of the price ranges as the house looks great and your agent seems to have taken some great photos. Maybe enhance the marketing description to include more of the features of the home , the granite countertops, the flooring, the greenhouse and garden area all are great features to include in the marketing description.

You seem to have good access instructions. These are all indicators that it must be price.

Best of luck in your home sale

Bruce Slaton
Realty World eCurb REALTORS
Lic # 01305148
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Wed Apr 29, 2015
Keisha Mathews answered:
Sirenspan,

The decision to rent your home for cash flow or sell it is not a tricky one. One will (may) bring you a somewhat steady stream of income, while the other one, selling the home, means cashing out. Based upon the current rent rates in your area, you can assess what your "income" might be. Based upon the current value of the property (I recommend a CMA from a real estate professional), and what you owe on the property, you can assess what profit you may gain from selling the home.

So the question really becomes, do you "cash out" now or keep it and get a slower "cash out" in the form of rent, and hope the equity will continue to increase. Remember, no one can guarantee you increased equity. So I don't think anyone on this thread would be able to answer that for you.

Now the purchase. If you are able to purchase in this current market, you would definitely get the best price at the best rates, no doubt. But you mentioned that you were going to be ready in six to eight months so that you can save toward this new purchase. This means more of your own money going out. What are you trying to achieve? Savings? Future equity?

I recommend you sit with a financial planner and discuss your personal financial goals which will include more than just the real estate, but will also help you see how you should hold your real etsate assets to help you meet your future financial goals.
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Wed Apr 29, 2015
My NC Homes Team answered:
You did not list and address or link to the property you are wondering about so no one will be able to anser this question.
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Mon Aug 18, 2014
Jay Emerson answered:
Fri Jun 19, 2009
Liz Stevens answered:
Yes follow your income until we see if the government programs now being crafted will make any difference. Rent on a month to month basis so that you have flexibility
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Fri Aug 21, 2009
Ute Ferdig answered:
There are currently 22 active/pending 3/1 in Fair Oaks. Average list price is $352,880 and average square footage is 1,155. Average days on market is 58. Only 1 of the 22 is a pending listing (list price $259,900. There were 6 sales in the past 3 months. Average sale price was $261,150 with average square footage of 974. Average days on market was 36 days. There were 8 sales in the 3 months preceding (March 25 - June 25). Average sale price was $304,688 with average square footage of 1,131. Average days on market was 25 days.
Please let me know if you'd like any other property information. Thank you.
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