[5-DayForum] Help

[Bill Effros]

Andy,

I assume you saw my reply to Charles.

You seem to be further along on the curve.

Here's a vacation home rule of thumb.  I don't know if it's accurate, 
but think about it:

In today's market a vacation home is worth no more than 10 times the 
most rent you think you can get for 1 year's rental.

Where does that rule put you?  Use real numbers and you will know a lot 
for a little.

Where is the home?  What's been happening numerically in the market 
around there (in terms of trends we all already know.)

Bill Effros





distenv at aim.com wrote:
> I am planning on doing the 5 day sale on 11/10. This is my first time 
> and need some help. My concerns are as follows:
> My house is a new waterfront spec house that has been on the market 
> for $ 799,000.00 and is now $ 724,000.00. My first concern is how to 
> price it. If I advertise it for half then would people be willing to 
> pay 700 when they are hoping for a lot less.
>
> My other concern is something I picked up on the forum about vacation 
> homes. This house is in an area of retired individuals and weekend 
> warriors. Should I proceed with a 5-day?
>
> Advertising. I am thinking of running ads in the two major big city 
> newspapers and the only two local papers. Any suggestions on location 
> and size of ad.
>
> Thanks and Happy Halloween,
> Andy S.
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