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I've already answered these questions, specifically for you, MAM, in earlier posts. And I don't want to regurgitate it all here again. I'm sure if you were really interested you would've remembered or you can go look it up if you are. Methinks you don't really care but are pointing out these things for others. Which is fine.
Flipping or financial distress, if apparent, as my motive, I would think would bring offers, low ball at least, from the vultures. This is not the case. Nothing in the building is moving because jumbo loans are hard to get right now. Or at least this is what the "pros" who have listings in the building and have shown mine, are telling me. I am listed on the MLS and I am paying a co-broke, as I've stated many, many times in the forum, so I'm not doing a "come and see my sign" type strategy. In fact, signs are prohibited by anyone in luxury buildings here. No open house signs. No for sale signs. No signage for anyone.
As for the garage spaces, in fact they are in demand. I get inquiries often to sell them or rent them. I elect not to. I don't need the money, and knowing what I know about MY building and MY area, they are a selling point (when things in my price range start selling, that is). There is NO guest parking in this building and parking on the streets is metered and very scarce.
The place does show small and the furniture is too big and the pictures are too dark. I agree. Think I'd do something about that, huh? LOL! I will. I've said all along, I'm not too motivated. I wouldn't actually care if it didn't sell till mid-summer. I would enjoy one more summer here.
People who live here and are looking to buy here realize that the assessment charge is pretty average. I think the average is $650/mo on ALL bldgs downtown. So my 857 for a luxury bldg is on the lower end. Some are as high as 1100/mo for a luxury bldg (The Metropolitan/Omni property). But I wouldn't expect you to know this, as you're not in my locale.
I'm getting an average of 2-3 showings a week now. I'm not sure having it listed with a real estate professional would improve that number. Like I keep saying, if having a RE professional list my home would sell it, why haven't the others who are listed sold?
ETA: The "average Joes" looking at my home have ALL been escorted by real estate professionals, who, if they're doing their job should know if their client can afford my home and not be wasting THEIR time showing my home if they can't.
And, the garage spaces are included and deeded. In CA, we have Proposition 13 on the books. The only time your property gets re-assessed for tax purposes on for a sale or when you pull a permit. The taxes are calculated based on purchase price and the 6 garage spaces are included in the purchase price. Again, local...wouldn't expect you to know that, but just FYI.
Last edited by MsFancyPants; 05-08-2009 at 11:59 AM..
I am not advocating you list your place with a full service agent.
You mentioned that you might join forces with others in the building and do open houses. That's not the best way to get sold, at your price point.
You are limited to finding someone who will value 6 parking spaces for a relatively small unit. Does your online marketing tell the story....that parking spaces can be deeded separate from the unit, or rented? Can they be rented to outsiders?
Is there an active market for parking spaces? Are there comps? What would the maintenance run? I don't need to know. Your buyer does.
What happens if JUMBO rates never come down? How are you going to compete for a cash buyer? Only you can decide if this is a hobby or you really want to get sold.
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