The real estate climate forecast for the coming year is partly sunny - and warming up!Â Yet, with no double-digit appreciation in sight, some who plan on selling a home in Brooklyn face the very practical question: is the winter of â€™13 the right time to sell?
For those who stand to make a gain from selling, the decision boils down to convenience. Whether sale prices rise or fall, the cost of their next home will probably move in the same direction.
But what about those who suspect that the overhang from the financial crisis will probably result in some degree of net loss? How do they decide whether it makes more sense to sell and take the loss, or to rent - and wait? Emotions aside, the financial impacts can be examined. If you are considering selling a home in Brooklyn and donâ€™t stand to make a profit, asking yourself some questions can help reach a decision:
Selling a home vs. renting it out is a decision only you can make -- why starting with accurate information is so important. I will be happy to meet for a confidential consultation on the value of your local home in todayâ€™s market. It is a very good place to start.