All Forum Posts by: Amie D.

@Darrin Carey SFR or multi in a lesser expensive area but preferably not war-zone. I'm comparing what's available down there to around where I am now in Northern Indiana. I already have property management set up down there that I am satisfied with, but what I've been hearing is the market is picking up there and deals are getting harder to find. That has not happened up here yet, but then I'd have to start over with finding a good management company and that can be challenging. I'm still having to find a new manager with another property in Southern Indiana.

Fantastic - will do!

Hi all, I own a rental in Cincinnati (actually Northern Kentucky just across the river) and am looking to pick up another one. Though I no longer live there, I am familiar with the area as I lived there for about five years, and have a property manager in place that I'm happy with already.

Can anyone recommend a good real estate agent there who is used to working with investors? Or, a wholesaler?

Also, if you know what the market is doing there lately, please fill me in... as many may already know, it's gone crazy on the west coast.

Thanks!

Yeah I don't have the paperwork in front of me, but it's been just over a year now. If the contract extends beyond that, I would find that odd.

@Dawn Anastasi it's in South Bend, IN (actually Mishawaka technically). I think the pricing on it needed to be adjusted a long time ago. Even in a slow market a house shouldn't sit for over a year, when other houses are selling in ave 144 (or 80/median) days. There's always a buyer for a house at the right price - for example how many offers would we have had if the house was priced at $1? Not saying that is what it should have been priced at, but still. We were getting showings but no offers, and then the showings had dropped off as well, only picking up when we lowered the price, and now aside from the one low-ball offer (brought in by another agent) it's been dead again. As an aside, I think it was probably an investor trying to get a probate sale cheap - was a single guy with an all cash offer. Maybe not but I had a hunch.

Good ideas for the "why", thanks!

@Jb Espiritu , @Darrell Shepherd good point, I will review the contract. I don't recall there being anything out of ordinary when I read through it initially. I know some people just change agents during a sale so this would seem a similar process... he obviously didn't bring me in as a buyer or introduce me to the property.

@Darrell Shepherd Well, as that what sort of job he did, even if the market is slow, we're sort of upset it still is on the market, and had considered changing realtors. We are all out of town, so he was our main contact as to what was going on. He insisted the pricing was right, and though we got lots of views, we'd gotten no offers in the year (besides the low-ball one.) We only got that offer after I insisted we lower the price. He just kept saying the market was slow in that area, but when I recently asked what exactly was the average time on the market was, he said it was 144 days with a median of 80. I will partially take the blame because perhaps I should have been monitoring things more closely albeit I was in the middle of several other things across the country, but I felt as the realtor, that was his job.

Now, we're going into the snowy winter when almost no one buys homes around here. Not a great time to rent, either, but I figure I can get it rented faster than it would sell, and at least I'd be making some money while waiting for the market to improve rather than it just sitting there. I was surprised when my sister referred to selling it for the low offer price, which is what made it attractive to me because the profit margins make more sense. Small 3/2 on a double lot with a large detached garage that possibly could be rented separately, middle of the road neighborhood.

Yeah I'd just tell the realtor we decided to take the house off the market. Not sure if I need to tell him why.

My brother, sister and I inherited a house and it's been on the market for over a year now (it's in a smaller town in which real estate has not improved). We recently got a low-ball offer, went back and forth a couple of times and then the buyer walked. My sister mentioned to me that maybe we should have just sold for his last offer.

So, I'm considering buying out their shares of the house at the last price point the last potential buyer offered. Then, I would rent it out.

My question is, we wouldn't owe the Realtor anything if we did this, correct? The house is in probate and my Dad's estate has a lawyer, who I believe would handle the details if we did this (probably a quitclaim deed?). I am one of the personal representatives of the estate so I wouldn't imagine it would be complicated. I'm prepared to pay them cash for their shares.

I do not know if I can mention names directly on forum posts, but if it gets edited I will message you. Cres Properties, 513-561-7368, www.cresproperties.com, I believe they've been in property management since the early '70s, A+ with the Better Business Bureau, great references, statements on time every month as well as deposits, good communication. They only manage other people's properties so there is no preferential treatment of "theirs over yours". Really wish they managed in Bloomington, too. LOL