http://www.maniacsolutions.com/marketing-solutions-michigan/
It offers out of state promotion, but can not sell the house in this market. Any ideas?
We live in California and my husband was offered heavily promoted in Michigan. Unfortunately we found that our home (we paid $ 393,000 for $ 385,000 and still owes a) is likley only to sell for about $ 330,000 – $ 350,000! Thanks to a ton of banks subject to repurchase the homes of our neighborhood and are selling for less than $ 100K worthwhile. We thought we could rent it but the current price of a house like ours in the area is $ 200 – $ 400 less than the mortgage payment must be done. Do you think it would be best to take the $ 200 – $ 300 loss and rent the house out, hoping that the market becomes for us before? I know that many people in my situation, does anyone know of a good solution to this dilemma?
It's probably best to use the property as rental. If you are thinking of buying in Michigan, your lender probably will want to see California's property as a rental property. Historically, the housing market has had to depend on and is low. It either feast or a famine, starvation now. It will turn over but when no one knows. Just do not have property in California listed on the market (MLS), because …… if the lender does not accept the lease would have to present as evidence of being a rental. You can do a lease purchase option, perhaps. Since you are moving out of state, can be a good idea to have a management company take care of the lease for you.
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