As a real estate professional, sometimes I have to tell prospective sellers it would be better in their situation to rent their primary home out opposed to selling it. Some of the scenarios where it makes more sense to rent include:
-You plan on being back to the home in a couple of years.
-You can afford the payments on your home, but would have to bring a lot of money forward to sell your home at the fair market price
-You are not ‘happy’ with the current market price.
-You recently did a lot of improvements to your home, and might not recover all the money that you put because of the market.
-You like the idea of collecting a check every month (hopefully).
-You need to move on with your home as soon as possible. In my experience, we usually get a renter faster than a purchaser. With renters, they typically want to move in in a couple of weeks, and it normally takes about 2.5 months to close almost all buyers from accepted offers.
-You handle any maintenance issue that can up with being a landlord.
If you were interested If you are interested in renting out your home or condo, please contact me through my website or at 203-417-0523.
When I am showing properties to buyers, the first thing that they ask me is how many days the house is the on the market for. Often times, they are wondering why the house is still on the market. A number of things are determine how long a home is on the market for.
-The house could have a previous deal fall through because of mortgage issues, inspection items, buyers couldn’t their home required to purchase this home or any other of issues.
-The seller could have had previous offers that were not accepted.
- The home doesn’t show well due to clutter, deferred maintenance, a smell or any other potentially negative thing with the house.
-The home is difficult to show.
-The listing is not being marketed properly.
-Difficult property for potential buyers to obtain financing on.
-Property is being marketed at above market value by owners that won’t reduce their listing price.
-Oversupply of inventory
In the Danbury area, the average days for homes currently on the market is about 120 days. I won’t be afraid to look at look at any homes that are on the market for more than 6 months. I have shown great homes in the last couple of weeks that have been on the market for more than 6 months that have me confused why the house hasn’t been sold yet that are priced right and show well. Sometimes it’s just a matter of waiting for the right buyer to come along.
The only way to find out what is ‘wrong’ with the house is to look at it. If you were further interested in the home, we would determine what fair market value is and look over the property disclosures. On top of that, to protect you, your offer would be subject to contingencies such as inspections,appraisal and obtaining financing, so in case something comes up you will be protected.
There are many good reasons with landlords should use an agent to rent out their property.
-I will make any suggestions for any fixes or improvements to do on your property before listing
-I will go over recent rental activity in your neighborhood to help you determine proper pricing. Proper pricing is just as important in renting your home as it is when it is time to sell. The longer your property is empty, it is costing you money.
-I will take numerous high quality photographs to be used in the marketing of your property and write custom ad copy that features the benefits on your property.
-I advertise properties for rent pretty similar to the way I handle homes for sale. Your property will be advertised on Realtor.Com, the MLS, WPSIR.com, Lisingbook, Trulia.Com, Zillow.Com among others. This comprehensive marketing strategy gets you a renter in a timely manner.
-I will arrange for showings for your property from perspective tenants that see the property advertised and from other agents that have clients looking for properties to rent.
-Ability of qualify tenants that have made an offer on your property by checking their credit, renting history, employment and personal references.
-Advise you on all offers.
-I can prepare a standard lease with you. When it is time to get in signed & collect the funds, I will arrange for you to meet with the tenant & then get everything signed.
If you are interested in renting your apartment, condo or investment home out, please contact me, Jonathan Hall with William Pitt Sotheby’s International Realty, at 203-417-0523.
What kind of luxury home are you looking for in the Danbury & Candlewood Lake Area?
Can it be large classic intown colonial?
Would you be more comfortable with modern colonial in a subdivision on fine homes?
Do you see yourself in a restored or expanded rustic cottage on Candlewood Lake?
Could a more modern home on Candlewood Lake or Lake Lillinonah better suite you?
Or would the combination of privacy and a quality home fit your bill?
The good thing about the Danbury,CT area is that there are all of these options for buyers looking for a luxury home. The Danbury & Candlewood Lake area is located on 60 miles northeast of Manhattan. With affordable real estate prices,taxes and world class recreational & cultural opportunities, it is a good reason why the Danbury area is one of the top rated places to live in the country.
Please contact me with questions that you about the luxury home market in the Danbury & Candlewood Lake area.
When buying a home, you need to figure out what the most important things are the most in a home are:
-Location: How far you are looking to commute? Are there any particular neighborhoods that you prefer over others?
-Type of neighborhood: Do you want to be downtown, in a suburban area, in a neighborhood with a lake or beach, in a country setting, or
-Property type: Are you looking for a single family home, condo or multi family home.
-Style of home: Is there any particular style of a home that you are drawn to?
-Price: How much has your mortgage broker approved for to you spend, and how much do you feel comfortable spending?
-# of Bedrooms & # of baths?
-Condition: Are you looking for a house that you can just move right in & be done with it, or are you ok with doing some work (paint,flooring) or is major work ok (roofs, kitchen, baths)?
-Parking: How much parking do you need or does it not matter?
-Storage: How much space do you need to storage things, such as clothes, luggage, etc or does it not matter?
-Out buildings: Do you space for any equipment or toys, such as motorcycles, wood working, gym equipment, etc?
-Any special features or requirements: Do you need a main level master bedroom, a media or home theater, home office space, or anything else?
If you are unsure about some of these things, I can help you make sense of what you need and show you properties that fit your requirements. If you are interested in purchasing in a home in Greater Danbury area, please contact Jonathan Hall with William Pitt Sotheby’s at 203-417-0523.
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Specializing in Greater Danbury and Candlewood Lake Real Estate. Email me at jhall@wpsir.com or call or text me @ 203-417-0523. Search Area Homes at www.danburycthomes.com or www.danbury-condos.com
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