Real Estate Auctions
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andipandi said:
Just an observation Andi. When you bought this home I assume you weren't planning to move to the area immediately. I realize the market is down and may go down further but this really is only a problem if you sell. The market will come back although it may be a long time. Why not put the house on a rental program and see if you can cover some of your expenses with a fixed mortgage? It would be worth the time to look at the numbers anyway. I realize the rent won't cover the expenses but it may make the bleeding tolerable in the meantime and you may not have to make any adjustments.
I feel strange being so positive.
TooFarTampa
SoWal Insider
Pirate said:Just an observation Andi. When you bought this home I assume you weren't planning to move to the area immediately. I realize the market is down and may go down further but this really is only a problem if you sell. The market will come back although it may be a long time. Why not put the house on a rental program and see if you can cover some of your expenses with a fixed mortgage? It would be worth the time to look at the numbers anyway. I realize the rent won't cover the expenses but it may make the bleeding tolerable in the meantime and you may not have to make any adjustments.
I feel strange being so positive.
I was thinking the same thing. Even if you do rent the house already, there are ways to maximize your renters and/or income. It just takes some strategerizing.
Not that I have all the answers, but PM me if you are looking for any ideas. Also search the forums ... there are many members here who rent their homes and are great at it! I'm sure any of them would be happy to give you advice.No, we strictly bought it as an investment. Kept it for a year--that has been the biggest mistake!!!! Has been for sale most of the last year. Reduced the price $225K in that time. It will not rent as a short term without a pool. We do not want the agony of a pool. Rentals were down this year anyway.Thanks for the suggestion. We will probably open it up for long term rental soon. It is just like new , so immaculate we know it will be damaged. But at this point we must make some changes. Once we convert to a fixed the payment will skyrocket. It is already a nose bleed payment.
Still not sure exactly where your property is located...but if its not in a subdivision, you could possibly look at selling it as a commercial property (assuming you could get zoning). Pool issue is resolved. A lot of businesses need locations. Just a different thought.
Hi..can you provide the listing details and pics. I'm looking..right now just looking..thanksandipandi said:
Does anyone know what is up with the two huge gulf front villas in Santa Rosa Beach, aka Seagrove right next to Sugar Dunes that are selling at auction Sept. 7? Just saw them in the Wall Street Journal Distinctive Properties, I watched them being built and they seem to always be rented or occupied?
