Home Selling in Fremont>Question Details

Lakisha, Home Buyer in San Jose, CA

Should I wait or sell now?

Asked by Lakisha, San Jose, CA Tue Jul 2, 2013

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Bill Eckler’s answer
Hi Lakisha,

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!

0 votes Thank Flag Link Sun Jul 21, 2013
I agree with those who state, “It depends upon your goals.”

• If you are moving up, then sell now before the margin for your replacement home grows even larger.
• If you are moving down, then you can’t afford to wait until the market softens because it will suddenly be much harder to sell your existing home.
• 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 don’t have any tax implications – the resulting conversation will help you determine timing.
• If you are moving out-of-area, then it’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 – quite literally – 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
1 vote Thank Flag Link Tue Jul 2, 2013
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
1 vote Thank Flag Link Tue Jul 2, 2013
As you can see by the variety of answers there are a lot of factors to consider in the process of selling a home. I suggest that you personally interview about three of the agents in your area, have them give you a market analysis of the current value of your home, and tips to perhaps get it ready for the market, and then you would have more information to consider as to when you do put it on the market. Often, sellers wait and call agents after doing repairs and remodeling, rather than talking to agent before doing work and remodeling, and often are not using their money in the most useful ways for optimal return on their dollars.
0 votes Thank Flag Link Sat Jul 20, 2013
Now is always a good time to sell.
0 votes Thank Flag Link Sat Jul 20, 2013
What are your reasons for wanting to sell?

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.
0 votes Thank Flag Link Tue Jul 2, 2013
if you sell, will you be buying a higher cost property???
if you believe prices will continue rise, like I do???

sell; then buy now.
0 votes Thank Flag Link Tue Jul 2, 2013
Hi I just want to add, what ever you decide, take in to consideration that you want to choose a Realtor whom you can work well with. Most realtors can help you sell your home. You want to choose one that can negotiate well and will be up front with you. While you may find some that will list for less dont forget you have to pay the buyers realtor as well. Realtors list for an agreed upon amount and then split that with the buyers agent and their brokers. Some people will not tell you that until you sign a contract and you will end up paying more than you were told.
Web Reference: http://DawnRivera4Homes.com
0 votes Thank Flag Link Tue Jul 2, 2013
Mortgage rates are rising. That will decrease house prices. Sell as soon as possible.
0 votes Thank Flag Link Tue Jul 2, 2013
That is a good and fair question. The answer depends on whether or not you are ready to sell. Do you really want to sell? Where will you move to after the sale? What aspects will be affected before during and after the sale. There is a saying "There is no time like the present". So what would hinder you from going forward with the sale of your property. You need to be clear as to your motivation, need, desire level and the out come. Have a great day.
0 votes Thank Flag Link Tue Jul 2, 2013
HI Lakisha

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
0 votes Thank Flag Link Tue Jul 2, 2013
Hi Lakisha,

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.

0 votes Thank Flag Link Tue Jul 2, 2013
Do you need to move now or can you wait?
0 votes Thank Flag Link Tue Jul 2, 2013
Right now the price of homes going up so it's good time for seller.It is hard to predict top until it start going down which is same thing to predict bottom until it start going up.basically this is seller market so if you are thinking of selling,time is on your side. Ofcourse you want to work with your tax conultant and realtor to get clear picture of your finance.Hope this helps!!!
Web Reference: http://www.joepatel.com
0 votes Thank Flag Link Tue Jul 2, 2013
As Mike pointed out below - It depends on your need to sell

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.
0 votes Thank Flag Link Tue Jul 2, 2013
That is the question...you haven't stated your reason for selling...you don't tell us if it is your primary property or a vacation home or rental so that question is hard to answer without all the facts.
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
Good luck,
0 votes Thank Flag Link Tue Jul 2, 2013
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