The prospect for sales in my area is just about nil unless the HO is willing to take a huge loss.
i.e., a neighbor purchased a home here for about $300k and five years later, current, he had it one the market for $259k and no one even looked at it.
There are two homes here for rent and being advertised as foreclosure rentals with short term leases. Normally these houses would rent for much more but one condo, lake front, is renting for $700/mo and the other a 4 bdrm beautiful home for $750.
After reading the posts under Foreclosures and seeing several people waiting 3, 4, 5, 6, years or more for the final foreclosure sale I am tempted to try to rent my home as a FC home. I thought about turning it over to a RE management company.
I am not looking to make money but simply to keep the HOA fees and other costs paid for until the bank does the final sale. I know I could save a bundle of money if I stay but I would like to move on.
Comments appreciated, thanks.
i.e., a neighbor purchased a home here for about $300k and five years later, current, he had it one the market for $259k and no one even looked at it.
There are two homes here for rent and being advertised as foreclosure rentals with short term leases. Normally these houses would rent for much more but one condo, lake front, is renting for $700/mo and the other a 4 bdrm beautiful home for $750.
After reading the posts under Foreclosures and seeing several people waiting 3, 4, 5, 6, years or more for the final foreclosure sale I am tempted to try to rent my home as a FC home. I thought about turning it over to a RE management company.
I am not looking to make money but simply to keep the HOA fees and other costs paid for until the bank does the final sale. I know I could save a bundle of money if I stay but I would like to move on.
Comments appreciated, thanks.