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House isn't selling- Where to market 'executive' rental??

Posted by marciab10 (My Page) on
Fri, Nov 14, 08 at 6:17

We have built a new home(bad timing), and our old (8yr) house is not selling. We have followed the pricing advice of our realtor, and have done almost everything she said to do. Have had 40+ showings, and one very very low offer. After talking to our accountant we were advised renting might be in our best interest.

Our house is currently priced @669,000. Homes in our neighborhood go for 550-800. We are trying to rent for $3200. (=to a 325K mtg + r/e taxes)Our realtor did put it on as a rental, and I have put it on craigs list.

Is there a market for this kind of house? Are there any companies/realtors that specialize in this type of rental? How are they paid?

Any advice would be greatly appreciated!We really need to get this rented ASAP!

Here is a link that might be useful: Craigs list

Follow-Up Postings:

RE: House isn't selling- Where to market 'executive' rental??

We tried to rent our house in a Seattle 'burb without success. Our agent said that the problem with trying to rent a more expensive house is that anyone with that much money will either a buy a house OR rent an upscale downtown apartment with a concierge and all the other amenities.

On the other hand we have a house in Tucson that is pretty expensive, but only 2 blocks to the U of A so we have built-in demand. We just use Craig's list to find renters. You probably need a rental agent that rents houses in the value range that your are in.

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