All Forum Posts by: Zach Rubin

@Allison Park

Thats the point were we are... getting it off the books. Its unfortunate especially with time but i know in the long run it'll be small impact. Just need to get through it.

Quote from @Allison Park:

Is there any reason you don't just rent it?  I had the same issue selling Clayton a year ago...took 60 days this time of year.

Paying to much for mortgage. Renting would cost me $700/month loss

@John Conlon

Thanks for the feedback John.

Large lessons have been learned throughout this experience. I've already contacted the agent about making changes to get this home off the books.

Thanks!

Quote from @John Conlon:

Quote from @Zach Rubin:

Quote from @John Conlon:

I agree with Russell, update the exterior photos to show the new roof. Also, you need to do a price improvement. Buyers are looking for a deal right now. Plus, your list price didn't help you. One of the main reasons houses do not sell is because of price. I'm not sure where your agent got a list price of 315k when unit 706 sold back in May and that's a 4/4 with 2300SF. The only comparable unit is 1120 selling for 290k back in May. Based off of price per square foot you're at 275k. If you want to attract buyers I would suggest dropping price to 269k

We bought at 272k… and owe 259k. I’d have to pay to get out of the house at that point.

I understand, but you have to think about everyday it sits on the market you're losing money. You have to weigh holding costs vs closing costs. Also, if you do an aggressive price drop, you could see yourself in a multiple offer situation. 

 That was one of the first responses I wrote. I’m losing money but there is a “break even” number when selling the house since we are renting as well. That break even number is $285k price now to just cover the last two month of paying were we are living now. Lol I can’t help but laugh at the situation. I guess my agent was over their head with the starting price 

Quote from @John Conlon:

I agree with Russell, update the exterior photos to show the new roof. Also, you need to do a price improvement. Buyers are looking for a deal right now. Plus, your list price didn't help you. One of the main reasons houses do not sell is because of price. I'm not sure where your agent got a list price of 315k when unit 706 sold back in May and that's a 4/4 with 2300SF. The only comparable unit is 1120 selling for 290k back in May. Based off of price per square foot you're at 275k. If you want to attract buyers I would suggest dropping price to 269k

We bought at 272k… and owe 259k. I’d have to pay to get out of the house at that point.

Quote from @Russell Brazil:

Quote from @Zach Rubin:

Quote from @Russell Brazil:

Quote from @Zach Rubin:

@Russell Brazil

I wont be hurt by the truth! lol I put a good amount of sweat and elbow grease into the place to build equity but sounds like a bad deal from the start.

I mean, what did you do on the renovation? Is yours #1107? Kitchen doesn't look renovated. Roof looks old. Bathroom vanity looks nice, but that doesn't drive much value.

Yeah 1120 is what Im comping it against.

Yes, 1107 is mine.

New LVP throughout the whole house, upstairs bathroom 90% renovated minus old tub. Roof just got replaced by HOA for their "roofing cycle" (pictured didn't get updated), artificial turf install in backyard, paint.

The kitchen did not get touched so you are correct on that one. 

Update the exterior photo w the new roof. Will look much better. Current photo w old roof makes the property look rundown 

Anything else? Realtor mentioned that they weren't sure it would make a difference.

Honestly, never made sense to me to not update photos.



Anything else? Realtor mentioned that they weren't sure it would make a difference.

Honestly, never made sense to me to not update photos.

Quote from @Russell Brazil:

Quote from @Zach Rubin:

@Russell Brazil

I wont be hurt by the truth! lol I put a good amount of sweat and elbow grease into the place to build equity but sounds like a bad deal from the start.

I mean, what did you do on the renovation? Is yours #1107? Kitchen doesn't look renovated. Roof looks old. Bathroom vanity looks nice, but that doesn't drive much value.

Yeah 1120 is what Im comping it against.

Yes, 1107 is mine.

New LVP throughout the whole house, upstairs bathroom 90% renovated minus old tub. Roof just got replaced by HOA for their "roofing cycle" (pictured didn't get updated), artificial turf install in backyard, paint.

The kitchen did not get touched so you are correct on that one. 

@Russell Brazil

I wont be hurt by the truth! lol I put a good amount of sweat and elbow grease into the place to build equity but sounds like a bad deal from the start.

@Russell Brazil 

Are you talking about the 1120 unit?

We bought at $272k back in 23 which i guess you call that peak time. 

I'm guessing at this point the renos done mean nothing?

Quote from @V.G Jason:

This isn't just your house. It's a frozen market.

We are in great depression level affordability for housing, many people were waiting to see how the Fed would operate on rates then the market on the long-end of rates. Plus listing it past July 4th is usually a slow draw, and post Labor Day even more so.

Most agents will probably get you to delist top of Nov, and relist early to mid March. I think that is the general sentiment, it'll just create more inventory and we are just unknown the stickiness of the 10-year. 

Bottom line; this is going to be a slow, drawn out process. Unless you absolutely need to sell-- don't, and if you do then price it to move aggressively. "Market rate" just won't cut it in this environment as it's inherently an illiquid mark. 

I do need it gone. Technically I can afford paying both renting where we live now and paying the mortgage on the house we are selling but I’d rather cut my losses now at a more aggressive price then hold and both and lose even more money