December 06, 2010

Southeastern Wisconsin Rentals - December 2010

Posted to Rentals

Looking to sell a house in Lake Geneva, Fontana, Williams Bay or any other part of Walworth County? There are folks that would love to be a homeowner today, but they have various issues that are keeping them from signing on an offer to purchase.

Why are they shying away from a mortgage commitment if they can pay a rental amount equal or greater to paying a loan?  A twist of fate in many cases!

Think about the folks that are relocating from another part of the country, and their home has not sold as an example.

Drastic changes in the banking requirements are also holding back would be buyers as well. They need to accumulate a larger down payment. Why not capture that renter now?

You – as the seller have not had any real interest in the price range you are listed. What if you offer your home as a lease with option or a land contract? I have several instances that have paid off for the renter – would be buyer- as well as the owner – the someday soon seller.

Another scenario is the long term home buyer. For example, I have a real estate investor that took advantage of a foreclosure home in Elkhorn that was solid all around. The previous market history indicates that this location, size, and style will give a good return on the investment down the road. The property was under refurbishment, and we got a signed 2 year lease. The renter will be converting to a lease with option to purchase within 6 months, and we have every indication that they will be a buyer before the rental term is complete. A pre-sold buyer that has given you a paying asset – now there is a concept worth exploring!

As of June 2010 Keefe Real Estate has 40 successful placements to date, and I have just penned my 12th for the year. Call me to provide a rate assessment, find the ideal place, or just chat about the rental market in general.

Posted by:  Stacey Schultz

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