The carpet needs to be replaced throughout. Needs floorboards. Needs some drywall work. The repair is not extremely extensive but I don't have the time or money to finish it. I need to sell the house and not lose all the equity i have in it. The house is in Las Vegas. Valued between 320,000 and 360,000.
Thanks for your help.
in this market where buyers want to hear things like short -sale, pre-foreclosure, you are going to look to move a non-complete house for how much close to value? esp in Vegas you may want to consider unloading the place for as close to the note as possible to get out while you still have good credit
I bought home 4.5 years ago. I put a new roof on it, painted interior and exterior and made a few minor repairs. It is 77 years old. Its in decent shape and is cute and has some features (bigger yard, better material for exterior walls, slightly bigger space interior) that make it a hair above value many in area. I am single and coping with yard, maintenence is just a hassle/hits budget for me so I sell. I don't have to sell now.
Since I put home on market the neighborhood…appealing one still somewhat transitional–prices have sunk ..this is not a market where prices were terribly overinflated…but homes that would have gone for 230 or 250 a years ago are selling for at least 20 to 40 K or more less ..a steal. I could lower my price still more…but it would take a lot of my investment. I risk with a older home need for expensive repairs etc. But market could normalize by next spring.
Should I wait and risk repair need or sell? How do I decide break even pt on costs w/mortgage?
With mortgage pymt, renting out would not work as I'd have to charge above going rate for home in this area.
Brick house (painted) so siding is not an issue and it was tuck pointed. Home warrenty added to deal would handle worries a buyer would have with appliances, etc.
I paid about 18K down, about 8-900/mo. not counting insurance and taxes mortagage, have made about 25K in repairs/paint/roof.
why not rent?