Agent

Lesser of two evils: short sale or tenant?

REThink Real Estate
Published on Oct 2, 2008

Q: I bought a house about four years ago, and relocated for work last year. My old house has been on the market for almost a year. I thought about renting it, but I really don't want to deal with tenants from a long distance. The place is almost fully remodeled, and people have been viewing it, but my Realtor says I need to lower the price and try for a short sale. The one thing I haven't tried is putting in stainless steel kitchen appliances -- the appliances currently in there are newer, but they are black. Should I invest my last few thousand dollars in upgrading the appliances to stainless steel, or should I attempt a short sale? A: Contrary to popular belief, everyone doesn't love stainless steel appliances. In fact, some folks actively dislike them. Buyers generally want updated appliances; if yours are up-to-date, they are not likely the thing that is stopping your home from selling. Based on your Realtor's comments, my guess would be that your home may be overpriced...

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