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Hey ya'll. As many know, I've been trying to sell my house in Cleveland. Or I could rent it, which I really don't want to do. That's a last resort. Anyhow, I bought my house in 2001 for $128,000. I put about $25,000 into it. This guy said he could net me $120,000, which means I'd be losing over $30,000 on it. I just don't think I can bring myself to lose that much money. What would you do??
Columbus Underground Messageboard » General Columbus Discussion » Q&A
Advice needed on selling a home in Cleveland
[13 posts] [9 contributors]
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lifeliberty
Here
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if you can't afford to wait out the housing market, sell it and take the hit. you are going to be paying either way.
Posted 4 years ago # -
lifeliberty
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most people I've talked to that are selling their houses are getting lowballed big time. like 70K under value for a 450k home. so their houses are on the market for going on 9 months now.
Posted 4 years ago # -
lazyfish
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what neighborhood are you in? how close to downtown or the University? if you live within a 2-3 mile radius from either the CBD or the University, I would rent the house and wait for prices to improve. 120 sounds low for Cleveland, are you in the middle of a declining neighborhood?
Posted 4 years ago # -
lazyfish
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you ought to be able to rent to some graduate students or sell to rich college kids or the professors. Maybe you should try more ads targeted to the college folks or maybe you should change your listing agent. I had no idea Cleveland Real Estate was so depressed, for a comparable location in Columbus you would be listing above 150 atleast.
Posted 4 years ago # -
Tigertree
771 N. High St.
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I would strongly consider holding out until at least after the election. Try finding a qualified renter that will sign a one year lease. Try and make it someone you trust, and know if possible. I would take a lot less to get someone you trust in the house for a year. I think next spring, once the election dusts settles, and election year scare tactics stop interfering with the economy you'll get a much better price.
Posted 4 years ago # -
Mercurius
First Avenue
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How is your realtor? A good realtor can make a night and day difference. Do they have a website that is posted everywhere under the sun? Are they actively marketing it in area papers? How often do you have people going through? Rent to own seems to be popular on the east side of c-bus. I think you just need to find Cleveland’s Joe Peffer.
Posted 4 years ago # -
bucky
German Village
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My finace and I moved down to Columbus about 1 1/2 years ago from Milwaukee for my job. He owned a house in Milwaukee and plenty of people offered their advice on what we should do with it. He bought the house in 2004 and had put about $15,000 worth of work into it. We started out by renting to his brother, and as we found out never mix family and money. We then decided to put it on the market with a realtor that friend of ours recommended. After 9 months of it sitting vacant and us paying a mortgage in Milwaukee and rent in Columbus we decided to drop the price and find a new realtor. The new realtor was very aggressive with pricing and advertising and we had an accepted offer in a few weeks (although it was much less then we originally had hoped for.) After all was said and done we lost around $20,000. What I learned from the experience is that the realtor makes a huge difference, if you cant afford to have your house on the market for a while you are going to have to take a hit, and if you decide to rent out your house make sure the person you are renting to is responsible.
Posted 4 years ago #
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