Homes are taking a bit longer then normal to sell in this market. If your property is being rented right now, you might be able to purchase your new home without paying any capital gains tax through a 1031 exchange. Info at 1031exchangeadvantage.com

You will have better luck selling your home if it is in tip top condition and priced 15% below your competition.

Sat Jun 21 2008, 21:24

Rhea the best investment is buying while the market is down. Since this is a buyer's market, I believe selling your Altadena home now is as good a time as any and this my rationale-the market in Altadena for all homes is down merely 9.6% over the past year with competively priced, move-in ready homes still getting multiple offers and selling over asking price. The key is to price your home correctly based on its condition, amenities and location so that it does not get stale by staying on the market. In the long run, buying a home while the market and interest rates are down will save you more money than you would realize by a slightly higher selling price on your home. My office is in Pasadena but I live in Altadena and would be happy to provide you with a detailed market analysis.

Sat Jun 21 2008, 10:41

Sandi McGinnis-Garcia, Realtor, Santa Cruz, Ca Depending on what you paid for the home and how long it was your primary residence, it may be possible to capture the 121 capital gain and 1031 exchange simultaneously. I would talk to your accountant before I did anything. I work with investors in Santa Cruz and Monterey Counties and am a buyers agent for foreclosures in the area. Visit my website for contact infohttp:// www.SandiGarcia.com

Fri Apr 25 2008, 11:02

i grew up in Altadena and am looking to live in the area again. I am a 43-year-old newlywed. How much are you looking to rend for?

Sat Apr 5 2008, 10:00

Rhea
In my opinion I see two basic options:
1. Make a long term commitment as a rental
2. Sell it now.

We do not know what the market will be like the future, next week let alone in two years. We do know that in the long term the value will rise, however I do not know how that might fit into your plans. My wife and I became accidental investors in this way and in the long run (18 years) it was a very positive experience, however at the time it was very stressful.
Altadena is in my service area and I would be happy to send you a market report so you can see what the market looks like.

Wed Mar 12 2008, 06:24

HI Rhea,

As you know the current market is not easy for sellers. you are best bet is to get it into spotless condition by un-cluttering, updating, and staging whatever you can with the least investment and sell it at cheaper than other homes in the neighborhood. And, offer to pay for the first year payment (a year of free Payment sounds much better than $50k deduction on the price) a flat screen tv if you have to do it.

what you don't want to do is to put it on the market over priced and reduce price later because the first 2 or 3 weeks when the home is on the market is when it will get the most exposure, after that buyers will never come back to an over priced home even if it is reduced. good luck.

Tue Mar 11 2008, 21:12

Hi, Rhea. One of my team members specialiaes in Altadena, Pasadena, Monrovia area. If you will send me your address (by email) I will have her run a comparative market analysis for you. Of course, we would need to see the home to give you a really accurate figure, but at least we can give you an idea of what today's market would bring.

Unfortunately, most of your competition will be short sales and foreclosures. If you don't absolutely have to sell it would be better to wait this out. We will be glad to answer questions for you.

All the best!
Dot

Tue Mar 11 2008, 21:07

Hi Rhea,

Yes the market is St Louis is pretty good now , especially the condos converted from old apartments. If you think you could get better money out of California and invest in these old apartments to convert into the condominium that is also good move. You might like to look at the area near by Grant avenue close to the Missouri Botany Garden in those commercial buildings. They are good investments to since the Asian town there is in the early forming attract lots of tourists there. If you can not sell then you can rent it out. I am helping other investors in Cape Girardeau nearby suburb areas like Jackson, Sikeston, and Marble Hill are very good areas to invest too since Cape and Jackson are growing pretty fast in the last few years. If you'd like to discuss more about the investment opportunities, I would love to help you more.

Tue Mar 11 2008, 20:27

It depends on how long you owned this property. How the market is doing in your particular area? Whether you are concerned with upsetting a renter?

If you do not have this property rented and are tired of worrying about the maintenance of this property it might be worth getting a local agent in your area to give you a FREE Market Value on your home and avedrage days on the market to sale a home in the area. At that point you can make a soud decision on whether to sale or not. don't believe everything you read in the paper. Some areas are selling their just taking little longer.

Hope this helps.

Tue Mar 11 2008, 17:40