Home Selling in 94118>Question Details

Angelab, Home Seller in 94118

I live in a 1 bedrrom, 1 bath in Presidio Heights. Is it better to Sell or Rent right now?

Asked by Angelab, 94118 Wed Jun 3, 2009

I am moving to NYC and need to do this pretty quickly.

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6
I don't think there has been a better time in the San Francisco/Penninsula area to be a buyer. Trust me, that will change. If you want to build equity, now is the time to buy. Rent isn't that cheap at this time in S.F. anyway.
No, I'm not a realtor, just someone who invests in real estate that wishes he had more capital to invest at this time. Good luck!
0 votes Thank Flag Link Mon Jun 8, 2009
I agree, the answer depends on what the numbers turn out to be. I manage my own property and sell property for clients, so I can say the rental value and sale value are important pieces to analyze properly. Feel free to contact me if you need help.

Shaban Shakoori
TRI Coldwell Banker, SF's #1 Office
0 votes Thank Flag Link Sat Jun 6, 2009
Dear Angelab,

It is good to crunch the numbers, obviously. I would suggest you bring in a rental agent. Hill & Co has them and it is a free service to come and give you a price quote. I would also call upon 2-3 realtors to give you an idea of a price for the sale of your unit. Make sure you get a full comparable market analysis..... which can be done quite quickly.

Then make your best decision. A good realtor can bring your property on the market VERY quickly. A good rental agent of company can do the same.

We would all like to have the opportunity to assist you. By the way, I grew up in Presidio Heights. Property there sells well AND rents well. If I were you, I would rent it for I believe real estate is an excellent investment.

Cheers,

Sally
0 votes Thank Flag Link Fri Jun 5, 2009
You should talk to Jed, he adds some good insight to the first answer, and he will help you make an informed decision.
-Greg
0 votes Thank Flag Link Thu Jun 4, 2009
It will depend on mare than we have here. The numbers and a throught analysis will help you make the decision.
I manage property for clients and can sit with you to go through the numbers to allow an infomred decision. Rents are pretty good in the City and well marketed condo's are also selling well so the other factors are how much is your monthly payment and what are your long term plans.
There are ramifications of entering into being a landlord in SF that are important to discuss and be informed on also.
0 votes Thank Flag Link Wed Jun 3, 2009
Jed Lane; Fog…, Real Estate Pro in San Francisco, CA
MVP'08
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I suggest crunching the numbers.... what are your total carrying costs (mortgage, hoa dues, property taxes) vs. what you can rent it for? If you are are break even or better, there's a strong argument for keeping it. If you are losing money, then the only reason to hang onto it is if you are certain it will be worth more in the future.

Another big factor is your loan - if you have a 30 year fixed rate loan, you'll always know your costs. However, if adjustable (now or in the future) you are at the mercy of the markets, and chances are rates will be going up since we're at near-all-time lows.

This also leads to the question of what are your long term plans? Would you ever come back and move back in? Or are you planning to sell it no matter what and just want to correctly time the market?

If you are trying to time the market, I'd suggest selling now because we know what the market is doing now, and it's impossible to predict the future. With the stock market back up, interest rates low, and lots of pent up demand, there is a market for your condo right now. We just don't know what the future will bring.

For a home valuation report please visit my site http://www.Evaluate-my-home.com or contact me directly and I can help you make a fully informed decision.
0 votes Thank Flag Link Wed Jun 3, 2009
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