It would appear that I am about to take on a high end listing here in town...oddly enough a classmate from high school that got me off of facebook..anyway

We are probably going to go with a sale/lease...whichever happens first....this is only my second actual listing......

The property should sell at around 350K(Thats high end to me) lease for around $3500mo

I know what to do to sell a home for around 1or 200K but this might be a bit different..and of course may be marketed diffferently for sale...or lease...

ANy thoughts my AOL family?

Any must have marketing like virtual tour....etc and how would you market it for lease...any differently than for sale?

for a sale of 350k, 3500 monthly sounds pretty high.

price it right and it will sell. what do the comps for sold homes tell you?

if you go on and dont get an offer in 45 days you need to reduce the price 4-6%.

why lease? a lease in my market is normally for 12 months. in an appreciating market, leasing is ok. in a market where values are going down (todays market) a sale 12 months from now would mean a lower price. i have no proof that this will happen other than taking into acount the prices going down over the last 5 years and the current economy. i would only recommend leasing if you cant sell due to being underwater in your mortgage. other than that, sell, sell, sell.

Thanks estatereal.......If it goes for a lease...would probably ask how low he could handle.....this home sold in 03 for 380K but it sold in a year....ouch...

I think if he could sell he would...he just wants out and he thought a lease might be the way to go....thanks for the advice...would welcome more of course:)

whooops meant it sold in 06 for 380K

whooops meant it sold in 06 for 380K

So what you are saying based on a list of 350k is that this property sold at 380k at the PINNACLE of the housing market and now 4 years later it has dropped only 8 percent in value.

I don't know your area but I find that very hard to believe especially when the market was on fire and it took a year to sell before. Have you looked at recent solds in this bed,bath,lot size,age,and sq ft??

Recent solds will dictate the market not active listings UNLESS nothing has sold then it shows that market has not priced low enough to generate sales compared to other pockets of homes and you will need to be lower than the newest active listing in similar condition.

If you know it does not have a chance to sell do not even go that route. Why is your seller wanting to sell?? Do they have a fixed rate loan or is it adjusting?? If the property is sitting vacant what is the lowest rent the seller can take?

Many owners make the mistake of looking at a rental say of 1,500 sq ft at 1,400 a month and then deducing my 3,000 sq ft home will rent for 2,800 a month. Generally the larger you go up in size of the home the less renters that are available and the lower the average monthly rent.

I would call a local property management only company and they can give you a pulse on what such a property would command in rent. You want to be priced low to get lots of action and land a really nice quality tenant who screens well and can put down hefty deposits. If you go really high in rents usually it is the desperate renters who will take anything and don't pay.

Just like strong buyers strong renters will want the nicest product and the nicest price they can get.

Hope it helps............