You've probably noticed that today's Real Estate Market has been somewhat slow. Listings that were once in high demand are now sitting dormant. Some have been on the market for well over a year. Every day the number of listings for sale goes up, which means your listing has to compete with homes that might be priced lower and have more amenities to offer. Houses that are selling now are the ones that are "priced to sell", and sometimes that means they are priced below the market values set during the Real Estate Boom almost two years ago.
While you can find real estate projections that forecast a speedy recovery, most of them have already been proven wrong. Now, the experts are adopting a more realistic view, realizing that our Selling Market may be in this for the long haul, and home prices will continue to fall. Our own projections of how long this "slow down" will continue is for at least another two years. Of course, for Buyers this is good news, as increasingly low prices become great bargains for them to choose from. But, for Sellers this trend is not good, and the longer the trend continues, the worse the condition becomes.
So, if you are one of these Sellers, what are your options? One possibility is to consider letting us manage your property, find a good long term renter, and letting your home generate some income for you while you wait for the market to heal itself. If possible, we could always consider finding a "Rent to Own" Tenant, or one who could rent with the option of buying when the term of their lease expires.
Here are some of the advantages of leasing your home:
1. Potential for Steady Income
2. Rental income is mailed to you every month
3. A full report is printed with all income and expenses detailed.
4. Tax Advantages of depreciation,
5. Your Home is watched and cared for when you're not there.
6. Maintenance and upkeep are provided.
7. If a "Rent to Own" Tenant can be found, then there is a possible sale at the end of the lease term.
Give this idea some consideration, then give us a call and let us show you how leasing your home can be an advantage to you in this slow Real Estate Market.
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