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Milton home: rent or sell advice

bigfish

bigfish

I can always fall back on my SAW skills
pilot
I have a house in Milton, 1 mile from Whiting Pines, and we've had it rented quick the last 2 years to flight students for $990/mo. (plus we pay $165 for pool maintenance). We have no problems renting but would like to sell the house just to not have to worry about it - we are in NC right now, have started a family and I'm on a 7/5 deployment cycle about to go on #2.
We are considering redoing the interior and then selling for $140K or $145K, but I would rather sell it quick and easy for $125 or $130 as a FSBO (we bought in 2004 for $119K and have done a lot of upgrades so this number is crazy low, but that's because we'd just take the realtor fees right out of the price).
So anyway, I'm wondering if anyone has heard whether people are investing in the Milton area? Are there people out there looking for good rental properties? Are any students buying in this market? Or should we just accept that we need to keep this house as a rental for a few more years? Any advice?
 
RivrGuide

RivrGuide

Admiral Hartman 4 Life
pilot
Now is not the time to sell in Milton/Pace area unless you have to.

If there is a gun to your head get a realtor, or lower your price or both. Sale Prices have dropped as much as 50k since last year in many areas around here.
 
ChunksJR

ChunksJR

Retired.
pilot
Contributor
bigfish said:
So anyway, I'm wondering if anyone has heard whether people are investing in the Milton area? Are there people out there looking for good rental properties? Are any students buying in this market? Or should we just accept that we need to keep this house as a rental for a few more years? Any advice?
Click to expand...

Bought 3 miles from NAS Whiting.

I want to hang onto the home. Wife doesn't. We are renting to own (or I guess leasing to sell from my perspective).

I highly recommend not selling. I cannot convince my wife of that, however.

A few other things to consider - do you have a fixed rate? If you do definitly hang on. If you don't, consider selling as you'll still make a profit. I paid 225K for my new construction. I'll lose about 40k of that when we sell to our tenants in 2012.

~D
 
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