As I have mentioned in this blog before, I plan to sell my townhouse early next year. My next door neighbor has hers on the market right now. She originally listed it at $270,000 but now it is sitting at $265,000. I am keeping my fingers crossed that she doesn't have to go much lower.
We both bought our places in early 2006 for $247,500. We live close to downtown in a desirable historic neighborhood. Those are pluses in this market especially with gas at $4 a gallon.
I am being pessimistic with my anticipated sales price and figuring out how much I will lose when I sell it. On the bright side, when I move into my girlfriend's house, my monthly housing costs will decrease by about $1,200 per month. That will make the loss on the townhouse a little easier to swallow.
Friday, June 20, 2008
Real estate values
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3 comments:
Have you given any thought to keeping your townhouse and renting it out?
I have thought a little about renting out my place but I have never had to deal with tenants and it seems a bit daunting to me. If the loss looks to be too great then that idea will definitely be back on the table. Thanks.
If you decide to go the rental route, consider a reputable management agency. For a fee, they will handle the tenants for you. This is a valuable service to someone who has never handled tenants before, and doesn't want to. (The "doesn't want to" would be me as well.)
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