[mia36]

We are leaving CT in the summer and my house is my major headache. With the current market, I think we can only sell it at a big loss (we bought in 2006).
I can't decide if I should sell or lease it out. I am hoping that I can find a good realtor who can help me either way. I understand that realtors would like to sell it to generate commission, is there any ealtor willing to do both?
If I decide to keep it as investment, is there any middle man / agent you can recommend?
Thanks for your help. I'd appreciate your advice.

[Rich Lee]

FYI - The MLS allows every property to be listed as "for sale" as well as "lease option - Y/N." When "Y" is selected, the listing agent re-enters the listing as a rental after a separate agreement is signed.

The first agreement is the listing agreement; the second one is the rental listing agreement. Fees (commissions) are totally negotiable on both.

In which town is the property located?

[mia36]

Guilford CT

[Rich Lee]

Here's a snapshot of the single-family properties (206) that closed in calendar-year 2008 for Guilford:

+0 < $100,000
+2 - $100,000 - $199,999
32 - $200,000 - $299,999
62 - $300,000 - $399,999
28 - $400,000 - $499,999
26 - $500,000 - $599,999
19 - $600,000 - $699,999
13 - $700,000 - $799,999
11 - $800,000 - $899,999
+3 - $900,000 - $999,999
10 > $1,000,000

Here's a snapshot of the single-family properties (168) that are currently listed in Guilford:

+0 < $100,000
+3 - $100,000 - $199,999
10 - $200,000 - $299,999
34 - $300,000 - $399,999
24 - $400,000 - $499,999
21 - $500,000 - $599,999
25 - $600,000 - $699,999
12 - $700,000 - $799,999
10 - $800,000 - $899,999
+2 - $900,000 - $999,999
27 > $1,000,000

There is approximately 10 months' worth of inventory. If you have an idea of your asking price, you can determine approximately how long it will take to sell.

For instance, say that you want to list for $450,000. In 2008, 28 properties sold between $400,000 - $499,999, and there are 24 currently-listed properties in that same range. Therefore, that's about 10 months.

However, the scenario gets much better if your list price is $300,000 - $399,999. The numbers are 32 sold to 10 listed or about 4 months!