Thursday, September 1, 2011

Real Estate Tips: When Your Home Won’t Sell…

We have seen a decrease in property values across the nation. Tampa Florida is no different, if a buyer purchased at the height of the market, they may not be able to sell the property for what is currently owed. This blog is to help let owners and sellers know what options they have to consider.

Revamp All Efforts to Sell House

The last thing you want to hear but the FIRST THING YOU SHOULD TRY is exhausting all efforts to get your home sold, relieving you of financial and legal responsibility. Meet with a savvy and local real estate professional. Examine your price point, evaluate your showing effectiveness of your home, and do some touch up repairs and maintenance to have it looking its best for potential buyers. We are seeing homes sell every day! As a matter a fact we reported in our last blog, “Life of Real Estate Agents in Tampa”, that we cannot find enough good quality inventory to show our clients! If you have a nice home, and you price it right for today’s market, it will sell!

Accidental Landlord Scenario

There is a term being pushed around by Zillow, called “accidental landlord”. The definition of this is a buyer who had no intention of renting or investing in their property to hold it open for tenants. The lack of equity in their home forces them to rent and move on, hoping for the best outcome with the situation as it is.

For some reason this term gets a negative connotation. There is nothing wrong with renting out your home! Many real estate investors purchase properties strictly to rent to tenants. However if you are not a financial position to carry the current mortgage and still feel financially stable in a new home purchase, talk to a real estate professional to see what options you may have.

We also highly encourage you to find a property management company to take care of your property for you. This removes the hassle of dealing with tenants 24 hours a day, seven days a week. Also, professional management companies can save you on cost of repairs when needed. It is well worth the investment.

If you have any questions about buying, selling, renting, or investing contact SI Real Estate at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com. We have full property management services along with extensive knowledge of the Tampa Florida market and how to buy and sell properties with your best interest in mind.