All Forum Posts by: Marielle Walter

Hi everyone, I currently own a home in Washington, DC, and I think I have about $100,000 or maybe $80,000 in equity I want to leverage to buy a second home, which I would operate like a rental though would want to keep a room or basement space for myself as well. I would like to be under 1 hr to Boston, preferably near a train, and potentially near a beach. I am looking for either a single fam home around $250 to $300 or a multi unit from $350 to $450. I see that Lynn has properties near a train station and beach - does anyone know if Lynn has a solid rental market, or any chance of improving home values over the coming years? I also see Salisbury could be a good option for my price range and near beach - does this have a decent rental market and any chance for improving home values? Does anyone have suggestions for the best cities in my price range and with opportunity to rent and have a bump in home value over the next three years? 

Side note- I also know nothing about how to use my home equity to get a second home, so any advice on this process is welcome also. 

@Tim Farrell the home is is Carson City - are you able to assist? 

@Watson Smith We do plan to pay the buyers agent their 3% commission, so I am confused why they would think if they saw the listing on MLS, brought their buyers to us, and went through the transaction process, they wouldnt be paid? I thought it was a requirement that we as sellers pay that fee to the agent that brings the buyer to us? Am I missing something? By doing FSBO, we are only avoiding the seller agent fee I thought, but we would still be paying the buyer agent fee. Is this something we can just add to the MLS listing to avoid that confusion?

@Randy Johnson the home is in Carson City. About 25 mins from Reno. 

Thanks for your input @Watson Smith. Do you kn ow of an alternative? Seems odd that it would be this exclusive to get into one system, the only system it seems agents use to find homes for their buyers. Isnt it in their best interest to know about all the homes on the market that could be a fit for their buyers? Perhaps my only option then is to reach out directly to each and every real estate agent in the area, and invite them to come see the home? 

Hello, I am selling a family home FSBO, in the state of Nevada, and I have heard that it is possible to pay a real estate agent (or a listing program?) somewhere in the ballpark of 350 to 400 or so to add the listing to MLS. I would of course like to have my home appear on MLS to get it in front of the real estate agents in the area. Does anyone have thoughts on the best way I can do this, and if there are any challenges I should be aware of? Would I owe an agent more than the first agreed upon upfront fee? (such as owe them a commission when the home sold?) Thanks for your advice.

@Zach Kidd I agree that the tools seem to be there. In my opinion, its a great house, and I think the reals estate agent representing the buyer would be crazy to not bring them by to see the home. Everyone that has come for the estate sale has remarked what a wonderful home it is. So if buyers agents are doing their jobs and bringing their clients to the great real estate in the area - they should find their way here. Once the renovations are done, new pics will be up of the interior, and that should help. 

@Justin Pillion I've heard I can pay a few hundred to get on MLS, even as FSBO, and I am looking into that to expand my reach to the buyer's agents. any thoughts on this?

@Russell Brazil thanks for your advice, I was lucky enough to connect with a real estate agent that did comps for me, and I also had an investor come by and give me his perspective, as well as a couple offers. Sounds like 575 high end, and 500 low end. Have it priced in high end at the moment, likely the reason for the slow movement. 

Thanks @Arpad Racz, that is really helpful advice. I had taken a look at the days on the market of others, and see some are on there for a few months. Not exactly the market I am used to in DC, where we buy and sell houses within a week or two of them being on the market! Just hoping we can have this one sold in a month or two, but that will mean getting the price right. 

@Brett Tousley I agree with you that the home wasn't priced competitively in the beginning, and is currently priced at a price that is closer to the value of the home, but that is if the home was pristine - which it is not at the moment, and won't be for a few weeks (floors being done, estate sale happening now, etc.) So perhaps my fears are premature, and once we have the house in good condition and the right photos posted, we will have much more interest. But would be curious about what @Jacob Bindler mentioned. My family has asked me to sell the home, rather than a real estate agent, and so i am of course doing this for my own benefit as well, and if i gave that to a real estate agent, that would not be a smart decision for me. I own real estate in DC, and have worked for years in property management, so I am not a complete novice, though i am of course also not a real estate agent. 

@Jay Hinrichs so you think the main issue is that folks just asked for a discount? I actually wouldn't mind if they did, I just want to some foot traffic coming through here. Even a lower offer would be better than nothing! So when you posted FSBO, you did get foot traffic, just no one willing to pay the price you wanted?

@Charlie Fitzgerald that's great news to hear you were able to sell FSBO no problem. How long did it take? I'm hoping to sell in a month or two, maybe too ambitious...its one of the pricier homes in the area.