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Honest opinions on selling price for this house.....

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life moves fast

Member since 5/05

4225 total posts


Honest opinions on selling price for this house.....

Seeing as how you all have looked at alot of houses maybe you'd have a good idea....We haven't talked to a RE agent yet, we're deciding whether we want to keep this house as a rental home as we are doing now or sell it.....
3 bed, 1 bath, hardword floors under new carpeting, attached garage, oil hot water/heat, fully fenced in back yard with deck... It's in Riverhead school district, in the Bayview Pines area of Flanders... walk to private community beach.

I have pics of the outside, none of the inside on my computer yet.....Pics of house

FYI - I paid $195,000 for the house in 2002, which was a really good deal and did a good amount of fixing up on it.... (new carpets, all new paint, a new wall in one area, fixed cesspools in back yard and brought in fill and new grass to back yard, new bathroom vanity/sink, new kitchen counters)

ETA - I forgot we just did the roof this spring too.
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Message edited 11/19/2005 1:48:54 PM.

Posted 11/19/05 1:33 PM
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Member since 11/05

8749 total posts


Re: Honest opinions on selling price for this house.....

Do you currently have it rented? Are you earning positive cash flow from the rental?
What is the main reason you want to get away from renting? I think if the rent covers the bills there is a tremendous advantage to owning two homes & the longer you hold on to it the more it will be worth.
If it were my house I'd spend $300 to get it appraised before I listed it to evaluate if the potential profit margin makes it worth selling right now. You can list it for any # you want but we all know if your buyer can't get an appraissal to match you'll have to sell it for less. I would think $315-$339 would be the right range.

Posted 11/19/05 3:33 PM

3 babies for me :)

Member since 5/05

6683 total posts


Re: Honest opinions on selling price for this house.....

Based on MLSLI, most of the three br ranches are in the mid 300's. You could probably list it for $360,000 - $385,000.

Posted 11/19/05 3:44 PM

Cake from Outer Space!

Member since 5/05

14007 total posts


Re: Honest opinions on selling price for this house.....

It depends...Do you know what your Net Operating Income is? If that is positive, then you have a positive cash flow and that is usually a good thing. If it's negative, what is making it negative and is that something that will eventually equal out?

Posted 11/19/05 4:42 PM

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