Buying or Selling a Home/Pros/Cons Rent and Sell

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Expert: - 10/31/2006


Question
Jessica
My husband and I are planning to relocate to SC due to the ARMY selection. We are trying to decide what to do with our house rent it or sell it. We are currently station here in Fort Hood,Texas. What are the Pros and Cons of rent our house and sell it consider that we don't know when will we ever station here in Texas anymore.

Answer
Dear Florence;
If sales are up in Fort Hood and if the market is a good one then I would say go ahead and sell your home now.  However, give yourself a time limit and if it doesn't sell then you should try to rent it out so you don't lose revenue.  sometimes, waiting a while and selling in a better market will get you a lot more money.  The way you can determine how the market is right now is to talk to a few real estate agents in your area.  Ask them to show you a list of homes that might be competition for your home, and how much they are asking for those homes. Also see how long those homes have been on the market. This will help you to realize if the market is a strong one right now.  Then take a look at the local newspaper to see if there are very many rental in the neighborhood and see what the rents are going for. This will help you determine if your home will be easier to sell or rent. If your mortgage payment is covered as well as a small profit it may be a good idea to rent your home out.  You can also consult with an accountant to see what tax advantage there might be to having income property.

Good luck and best wishes.

Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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