To rent out or to sell?

[Christian Carle]

Lots of things...

My wife just got a promotion that will relocate us from Pensacola to Nashville. We are super excited. Especially to become a part of the Nashville market.

However...

We just bought our first home in Pensacola not even a year ago (April 2018). We are looking to move this coming May.

We used an FHA of course and we do not have a lot in it. We would be lucky to break even if we sell.

Now that the Coronavirus spreading like crazy we would be lucky to sell at all right?

Our potential agent suggests that we wait to list at the beginning of April. Which I totally get. Our home is brand new (2016). We love it and has absolutely zero issues. Brand new subdivision in south Cantonment area.

We have contemplated keeping the house and renting it out. Of course we would not be close to the home. Additionally renting in Nash to buy us some time to sell the home here in Cantonment.

Any thoughts or suggestions for a situation like this. What would you do?

Thank you for your time!

[Matt Jones]

@Christian Carle  The Pensacola market has very low inventory of move-in ready houses and they are selling fast.  Without knowing your specific home I can't say for sure but there is a solid chance you can sell even though you have not owned the home long and did not have to put much down.  If the numbers work out as a rental and you want to be a long distance landlord there is nothing wrong with that either.  As far as coronovirus and our market.. it hasn't impacted us yet.  We still have extremely low inventory, I am still getting calls on my listings through this weekend and none of my current properties under contract look to be impacted at this time.  It's a fluid situation but as of today Pensacola is absolutely still a seller's market and homes are still moving quickly.