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Interior photos are very nice. But the exterior photos on the MLS are very confusing and they are the first several phtos. They are too many of them and they are too close up.
Need the 1st photo to be the exterior of the entire front of the home, facing the road.
It would be good to change agents if your current agent isn't getting action. Pick the top agent in town.
Short sale is when the bank agrees to allow you to sell the home for less than what you owe. These are more common these days because the market dropped. It dings your credit.
BIGGEST QUESTION...MARKET VALUE: What is the home worth today, as it sits???
My guess is you are priced too high else you would have sold in 4 years. Price it for the current value. If you have to hire a licensed appraiser for $300 (or so). Tell them you want to sell it and you need to find out the value so you can price it correctly to make the sale.
If there is a large gap between appraised price and your mortgage balance...that's when you discuss a short sale with your lender. It's like walking away for a foreclosure but slightly less ding on your credit, from what I understand. I realtor can explain better. Or google.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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A co-worker is in the same situation with a home in that area. With the lack of jobs, the economy has not rebounded like the Seattle metro area, and here it's not rebounded enough to stimulate sales of vacation homes. Waterfront homes sell better because they attract people with lots of $ or who are willing to commute a long way. As you know rent is not going to be enough to cover a mortgage, and retirees don't want to spend that much when they can buy for less in a sunnier area like Sequim. As a rental home do you at least take a tax deduction for the monthly loss? It seems like either a short sale or waiting out the economy are you limited options unless just the right buyer comes along. Has your realtor advertised it in the Seattle times, or even in other states?
It sounds like you could still drop the price by $5,000 before you have to put money in. $5,000 can make a big difference in the sale of a house.
Since you are losing money every month, I suspect that even if you had to drop the price by $5,000 and put another $10,000 into the pot, you would still come out ahead over making mortgage payments when the rent won't cover the mortgage.
I don't think 30 miles from the sub base is too far to commute, so it is either your price or the condition of the home that is the problem.
Interior photos are very nice. But the exterior photos on the MLS are very confusing and they are the first several phtos. They are too many of them and they are too close up.
Need the 1st photo to be the exterior of the entire front of the home, facing the road.
It would be good to change agents if your current agent isn't getting action. Pick the top agent in town.
Short sale is when the bank agrees to allow you to sell the home for less than what you owe. These are more common these days because the market dropped. It dings your credit.
BIGGEST QUESTION...MARKET VALUE: What is the home worth today, as it sits???
My guess is you are priced too high else you would have sold in 4 years. Price it for the current value. If you have to hire a licensed appraiser for $300 (or so). Tell them you want to sell it and you need to find out the value so you can price it correctly to make the sale.
If there is a large gap between appraised price and your mortgage balance...that's when you discuss a short sale with your lender. It's like walking away for a foreclosure but slightly less ding on your credit, from what I understand. I realtor can explain better. Or google.
That is a good point on the appraisal, it has not been appraised in quite awhile.
In regards to the realtor there are very few out there due to the area but I have considered trying the last local broker, our contract expires at the end of the month.
I think our biggest issue is the age of the home, that was the second home every build in that community. The first one burnt down in 2003 and the owner rebuilt. Some houses were still being built when we moved there.
Quote:
Originally Posted by oregonwoodsmoke
I don't think 30 miles from the sub base is too far to commute, so it is either your price or the condition of the home that is the problem.
It really isn't, thats what our realtor told us, that any enlisted that come looking for homes don't want a commute. It may need to be that I should look for a fresh point of view from another realtor.
Quote:
Originally Posted by Hemlock140
As a rental home do you at least take a tax deduction for the monthly loss?
We can take a small loss due to depreciation and interest but taxes don't take into account what you are paying on mortgage, only what you receive as rental income.
What a great looking home. Just a few ideas. The main picture makes it look like a patio home. People tend to be very visual and the picture doesn't make one think 4 bedroom, 2 full 2 half bathrooms. Picture 5 is better. (Not crazy about the early view of the blank wall...not a problem when one gets there but it's just nice visually to see windows and doors etc.) I like to take pix from the long view...like get the corner of the house in the center of the camera and move to the side till you have all the house from side to side. In your case, with all the natural growth you may not be able to accomplish this but #5 is pretty good. #1 one is good for the patio and some nature pix are good but many aren't necessary. Concentrate inside if that's a possibility. When one sees patio home and one bathroom...was there a bedroom...the visual person who doesn't fully read isn't getting how great your home is.
I'd go quickly from the best pix...to your beautiful kitchen, #8 or 10. Instead of a lone tree you could get nature in there with the display of green beyond the kitchen door as you have in one. Another thing. I wonder if outside those great big living room windows there is a beautiful view? If so, push the drapes aside or tie them back. Watch the flash on your bright sofa.
The lower level. Is that a fireplace or a stove? How about a vignette of the pretty sofa facing it, just turned around in place, maybe at an angle for the picture's view of sofa side/front and mantel and hearth. Homey things on the mantle like chunky candles, lean a picture or two on it. And the hearth...a big basket with large cones or pieces of wood. Maybe a large tray or very large low basket on the coffee table in front of the sofa...maybe books.
I know it'll be hard to move the exercise equipment but imagining a cozy rainy evening by the fire could be attractive.
If you have a few rooms sparsely furnished and can do it...combine so that some, say, bedrooms are empty and clean but some are furnished completely.
Do you have a cafe set for your patio. To one side just a small table and two chairs? Could be inviting.
Put the best pic on fb. A great kitchen view. Then tea on the patio. etc. Every few days a new picture that inspires. You and your realtor. Encourage friends to share.
I agree with what the other local(s) have said. You need to spiffy up your photos. Keep in mind that a prospective purchaser needs to be pulled to your home. Navy folks commute from Bremerton to Belfair but Hgy 3 between Belfair and Allyn isn't an easy drive . Still, I think I would look for a Bremerton or Tacoma realtor.
Allyn might be attractive to a retiree who loves to fish. Were I you I would knock on doors in the area and ask residents what brought them to Allyn (you could consider offering them a 'tip' if someone they referred bought your house). I recall meeting retirees from Tacoma moving there.
FWIW I lived on Bainbridge Island for 15+ years and drove through Allyn in route to Portland to avoid I-5 congestion between Tacoma and Olympia.
It is simple.....the price is too high. You either paid too much for it at the top of the market pre-recession or you are adding in the cost of the remodels but they didn't add enough value to recoup their cost.
Those pictures are horrible though. Whomever took them, should not be taking pictures for listings in the future. Two of them have a big tree as the primary focal point. Are you trying to sell big trees or the home? Also, the pictures are now out of season and scream this house has been on the market for a long time which then makes people think "what is wrong with the home?"
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Some work needs to be done
