â€¢ If you are moving up, then sell now before the margin for your replacement home grows even larger.
â€¢ If you are moving down, then you canâ€™t afford to wait until the market softens because it will suddenly be much harder to sell your existing home.
â€¢ If you are selling and plan on renting, get a realistic value for your home from a Realtor then talk to your accountant to make sure you donâ€™t have any tax implications â€“ the resulting conversation will help you determine timing.
â€¢ If you are moving out-of-area, then itâ€™s your best guess as to when the market will be at its best. None of us here know how long the current market will continue to be on fire, but when it turns, it will do so â€“ quite literally â€“ in a single day.
Here is a post that may be helpful:
How Good Is YOUR Timing? 3 Important Reasons NOT to Time the Market
As others have stated, your purpose for selling is what should drive your decision.
Have a local real estate professional prepare a profile of values in your community similar to what you will see many times on MY TRULIA blog.
Data without interpretation is meaningless.
Call a San Jose professional and get the real data and what it means in regards to your purpose for selling. This existing real estate market has created selling options that significantly favor the owner/seller allowing for sales that are easier and more convienent than you can imagine.
You may find this an ideal time to reallocate your holdings and create a high yield, wealth building instrument that is unique to where the existing real estate market is going. Your multi-dimensinal real estate consultant can cover these options with you.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
If there was a "guarantee" that waiting would realize you greater return for your efforts, then I would say, "wait by all means."
However, since what we have come to understand is that there are no sure things, taking advantage of the moment, for some could be the best alternative.
Guaranteed results in real estate......still come with risk involved!
Moving up to a larger home in better location?
Moving down to simplify?
Moving on --- relocating?
Diversifying your investment portfolio
Interest rates spiked --- so buyers may be in a bit of a panic to take advantage of rates while they're still low, and home prices while they are also still low (but climbing fast).
Multiple offers at over list price (of course, it depends on the list price and the pricing strategy) makes this a seller's market, so you would be in the driver's seat if you price your property right, and it shows well.
Here's good blog to read KCMBlog (Keeping Current Matters). See this section for sellers http://www.kcmblog.com/category/sellers/
And here's what he says about Selling a House: 5 Reasons You Should Do It Now
Good luck, whatever you decide to do.
It depends if you are planning to downsize it is a good time but if you are planning to upsize you have think about your financial situation but all those things comes in play for your current property. If you just want to test the market right now this is the best time. Plus I would recommend if you are looking to sell call us. We can provide you more profit in closing by only charging 1.29 % commission from Listing side. So visit my website at http://www.gambhiramit.com and we can discuss about the marketing plan and how to attack it and get you the best offer you are looking for you
As the others have mentioned, we would need to know a lot more information before saying 'sell now'.
Is the home a rental or owner occupied? Where are you moving to and when do you need to be there? Are you "underwater" and a short sale needed? Are you buying another home? These are just a few questions we would ask.
In addition, you would be asking us questions, what do you do to sell my home? How do you market the property? Do you live in this area? How long have you be a full time broker?
Depending on your answers, yes it might be a great time to sell your home. Sit down and discuss your situation with one of us.
Move Up / Move Down - Great Time
Cash Out - Depends on your alternative investment / what you plan to do with the cash. If you plan to keep it as cash in bank then you have to consider the future value of currency and in my guess it may not be a smart move given what the Fed is doing.
If you need/want to sell then now is the time however if you sell where will you live? So as you can see there are lots more questions to help give you a complete answer.
Here is another thought capital gains taxes will most likely continue to go up so that's another reason to sell now assuming you will have a taxable event by selling now.
In most areas in Northern California Bay Area prices have rebounded to the 2005/06 levels our last high and in some class they are now higher so now might be the right time for you to sell
Please email me directly should you have additional questions and you want to discuss this matter further