« Will I lose my house after my 6 investment properties are foreclosed on. How can I keep my home.I’m self empld? | Home | Education In Real Estate Investing »
How do I sell my house and other investment properties?
By Tom | June 22, 2008
guapogetsit asked:
with Bush in office, and who appears to be so determined to ruin our econemy by his actions of an un-neccessary war, out of control gas prices (no wonder!!! He owns and is actively involved and is financially affected by whatever happens with gas prices) for which he can affect personal gain. Since Greenspan left office, we are all vulnerable to our self serving selfish president. I want to sell my home, and other investment properties, but feel trapped/stuck; because, everyone I have encountered feels as un-certain as I do, and affraid to make any long term commitments to mortgages, for fear of not seeing the end result of what our embarasement of president is going to do next to line his pockets and fulfill his own self needs. I want to invest into Canada or Mexico. Not comfortable investing in the US any longer.
Back to my question….How do I sell my real estate in a country with such an un-certain future???
Sarah
Topics: investment properties | 5 Comments »
June 23rd, 2008 at 12:21 pm
Find a sucker to buy them. It’s just like the stock market, someone HAS to lose.
June 25th, 2008 at 11:23 am
You could try a lease with option to buy with a portion of lease applied to purchase price. This would give the buyer first right of refusal but also some comfort to deal with uncertainty. If they’re really serious about considering a purchase possibly a small option fee non refundable if they decide not to buy, for your protection. I know nothing about real estate.
June 27th, 2008 at 7:07 am
Your an idiot go take ur political crap somewhere else. As a matter of fact call an agent, sell all your garbage and get the hell out if you dont like this country.
June 30th, 2008 at 8:05 am
Actually, President Bush helped investors like us out, but that’s for another forum.
I personally would hold on to the property unless it was your exit strategy to sell them when you first acquired them. Anyway, hook up with a real estate agent to put them on the MLS for a fee instead of commission. With you as the contact person and you doing all the paperwork, you should be able to work out $100-$400 per listing (depending on the number of properties).
Regards
June 30th, 2008 at 6:58 pm
I wont comment on your political preference but I will answer your question. Its simple, if you KNOW you can sell them on your own by all means do it BUT if you need assistance hire a professional Realtor to help you.
I understand your concern is about loosing money in this market so I will give you my point of view on the Real Estate market and the so called “bubble”
Following is an article I wrotte back in November 2005 and this still stands:
(FYI: Speculators GET OUT!! Real true investors THERE MIGHT BE SOMETHING HERE!!)
REAL ESTATE MARKET BUBBLE BURST!!!???
Well, we’ve heard so much from so many different “experts” but we ask how many print media columnists does it take to create a Real Estate market bubble? They really can’t but they can sure create fear on the consumer of a bursting housing bubble.
Most media are always looking for ways to increase circulation, which would equal to profits therefore any story suggesting a bursting bubble is going to attract readers. Not that they write this articles for the sole purpose of inducing fear on the consumer but don’t let media stories convince you that a bubble will burst or even worst become a self fulfilling prophecy.
Ultimately, the consumer is the one that dictates if there will be a bubble burst in the Real Estate market.
Three important facts that guide property values are:
Supply vs. Demand: If supply of housing is greater than the demand, housing values will drop. If the supply is less than the demand, housing values will rise.
(In California the supply has increased and demand has diminished therefore it has forced prices to dip)
Employment: This should be a no brainer. Solid and growing employment provides income for down payment and house payments.
Interest rates: This is very powerful driver in creating and sustaining property values. When the rates are reasonable, most people are willing to make important investments like purchasing a home. With lenders now offering easier loan programs to qualify, there are now many people able to purchase a home.
Now, just because lenders have been offering “generous” programs should not encourage people to go out and obtain any type of loan available. Many loans are dangerous and don’t fit with everyone’s lifestyle and economic situation. Many loan agents have been quick to over qualify borrowers and what’s worst not explain completely the pros and cons of each loan program available.
Rates have been creeping up little by little over the past couple of months and are expected to continue to rise a bit more next year as well.
It could be possible the “bubble” will burst but not likely. The Real Estate market will most likely will slow its rapid ascent, level out and maybe dip a bit. But a big burst? I don’t think so.
Nobody can tell what exactly will happen in 2006 with the Real Estate market or the interest rates. What you can do is get informed and protect yourself against a busting of the bubble. You can sure minimize the damage if there was a burst by planning ahead. How well secured are you in your current job? Your income? Have much equity have tied up with loans? Does the equity you have now along with your savings withstand a dip in your home’s value during the time you anticipate to own it?
Don’t stretch your finances by paying a high price for a home just because you’re stubborn and want to have that home.
And one FINAL thought: If you are looking to invest in Real Estate, this might be the best time for you to do it IF AND ONLY IF you are a true investor looking to invest long term. Real Estate is the BEST investment you will ever make in your life!
If you are a speculator/flipper I suggest you dont do anything right now, you will end up loosing money