(no subject)

[vicarz]

I originally listed for 325, backed down to 315 when there were no offers. This guy came in and asked for 276, 6 back. I nearly flat out said no - but I also haven't spent the time soliciting renters (gee no LJ responses). So I countered at 300/5 back, but warned quite seriously that was pretty much my bottom. Got home from the gym, and found he countered with 291/6 back. I called my guy and said no.

There is always a chance he'll counter back, but a better chance a flat out no will just get rid of him - but I wasn't kidding. This is often how I negotiate at work - I don't like to futz around. This is what it is. Fair in my opinion, and I'd try for more were I you too...but no, I'm not hard up enough to need this sale.

Having rental property is a good hedge against the economy, even if I am a tad strapped for cash. I still would have to sell it by Feb 2010 to be tax free on up to 250k in gains. I would have to add a significant chunk to the sale amount to overcome the tax liability I'd face - but that seems highly likely as time goes on. If I keep it - it's been cake dealing with renters.

Also, when I started doing that little dance in my head where I thought about what I would do with the wad of money if I had it...and really there isn't much that I want. Upgrade my car to the same car a couple years newer, add 10 inches to my tv, new laptop...but the things I want to do I can already afford, and for the most part that's hang out with my friends. I'm just that simple.

I also thought since I'm on the board I can approve any kind of modification to the property and nobody can stop me. So, wouldn't it be cool if I built a tube that ran from one unit to the other, like a habitrail? Whee!

Comments

[transentient.livejournal.com]

So he asked for 10% off the top and 2% back for closing, that's pretty much what buyers are offering on this market. Just an FYI, if that's too low for you it's too low, but if you are going to keep the condo on the market you should be ready for that.

[vicar.livejournal.com]

Yeah when I look at percentages I think I might be crazy, but I also don't know that waiting a couple years to get tens of thousands more dollars is such a bad idea. That is a good perspective though - thanks.

[grymnir.livejournal.com]

Also -- new administration, some of the others shift to consulting on K street; all need places to live, though the younger will of course try to revitalize U Street while others find themselves in unexpected territory. You would do better to rent, I think, and see what shifts in the economy over the next 2 years.

[vicar.livejournal.com]

I actually think taht is bunk, especially this far from capital hill. I have seen those news bites too - but something about them sounds just like Hilary supporters voting for McCain.

Plus, no furniture and logistical issues.

[turbogrrl.livejournal.com]

yeah. I see a lot of craigslist ads *offering* places. I don't see any posts by people frantically searching for lodging.

not really bunk

[kitteblue.livejournal.com]

I have a co-worker in Haggerstown MD, that is doing $500 a night per person ( 2 couples). But it includes dropping them off at a metro/Marc and picking them up at the end of the day on Inauguration day.

This is the same thing that happened at the Atlanta Olympics.

Re: not really bunk

[vicar.livejournal.com]

Just read the city paper article on the same subject (they covered the HUGE headline sucking offers, most of which were not selling). Appreciate the links muchly, but I'm now out of that market.

[translucent-eye.livejournal.com]

What were you getting for rent on it. And are you under contract with your realtor?

[vicar.livejournal.com]

Contract signed.
Was getting $1500 rent but rates seem to be around 1700-1800 now.