Posted by Carey_PA on April 13, 2000 at 16:27:05:
Thanks for responding Jim,
Here’s some more info:
It’s a 2 bed/1bath flat. between 1200-1400sq ft.
They owned it for 10 yrs, the last 5yrs they’ve been renting it and they’re at the point where they have to refi or sell it because of the balloon due the end of the year. They had a fha loan and then they refinanced at a lower rate with this 7 yr loan.
So they will have a 70k payment due at the end of year, and it’s with National City Mortgage. the loan is for 6.5% and she said w/taxes and insurance it comes to a little over $600/month. They are currently renting it for $780/month
They are asking $82k, the husband said he doesn’t want to go any lower than $80k.
I’m trying to do comps for the place online, but i’m waiting for some kinds souls on this site to refresh my memory as far as what are some comp sites for PA. (i have them all bookmarked, but my computer is disconnected, because i’m moving this weekend.)
When I asked how they came up with their price they said they had the place appraised a while back and it came in at 88K.
Is this enough info yet Jim, if not let me know.