Sellers Remo…, Home Seller in

Is it a good time to sell?

Asked by Sellers Remorse, Tue Feb 19, 2013

It seems like the prices in Santa Clara County are rising quickly and there is low inventory. I have a great house in a great neighborhood with excellent schools that is currently a rental. When I purchased it in 2007, my intention was to remodel and sell, but the market crashed considerably, so we made it a rental. It gives me great rent. My goal is really to sell it. Is it a good time to put it on the market and sell it? Or is it better to wait?

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Campbell housing market trends provided

Good luck
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0 votes Thank Flag Link Thu Mar 14, 2013
From your question it is clear that you really want to sell and from all the feedback almost everyone is in agreement that it is a good time to sell.Go for it

All the best
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0 votes Thank Flag Link Wed Feb 27, 2013
This same question surfaced on another Trulia thread about the San Diego market so I'll try to answer it the same way. However, let me qualify my comment by disclosing that it pertains to the San Diego market only.

What my sales team is seeing are some pent up sellers who where not desperate to sell during the downturn and who've been sitting on the sidelines waiting for the market to rebound.

In San Diego the market has indeed rebounded quite significantly and there are multiple offers on many properties which have driven values up. This pent up seller inventory could possibly unleash during the next few months resulting in a leveling off of multiple offers and even prices until the inventory has been assimilated into the market.

I think that if you're still sitting on the sidelines come what May you may be out there competing with a lot of other sellers. With current inventory in such short supply I'd definitely be thinking about climbing down off of that fence.
0 votes Thank Flag Link Wed Feb 20, 2013
It's a fantastic time to sell. The stars are aligned! An extremely low inventory means your property will be competitive between buyers (as long as it is priced right). Mortgage rates are creeping back up so selling now could be the perfect time.
0 votes Thank Flag Link Wed Feb 20, 2013
It is a great time to sell. The market is starting to go up. But soon interest rates will go up and buyers will not be spending as much money.
0 votes Thank Flag Link Wed Feb 20, 2013
Inventory is waaaay down in not only Campbell, but the entire Silicon Valley. We are getting multiple offers as a result. It is DEFINITELY a sellers market! We are getting up to 30 offers on homes. With interest rates as low as they are there is a double incentive for buyers. If you would like a free market analysis on your home to help with your decision, please let me know.
0 votes Thank Flag Link Wed Feb 20, 2013
Prices are up in most cities in California. It's a fabulous time to sell. To be sure however, track the homes in your community. How fast are they selling? Are they selling over at or list price?

In San Diego, homes are selling in as little as a day with prices going significantly over asking...indicating a strong seller's market....

Good luck.
0 votes Thank Flag Link Wed Feb 20, 2013
It is a strong seller's market. I listed a home in Campbell a week ago and it sold with multiple offers after the weekend open house. Way over asking.

The question I have is what is your goal when after you sell it?
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0 votes Thank Flag Link Wed Feb 20, 2013
As a few have mentioned, the answer depends on what your goals are.

If you're looking for a quick sale, now is a great time.

If you're looking to get the highest price out of your property, then you should wait a bit more. Interest rates are still falling. So, for the next 12-18 months, that will continue to drive home prices up.

If you're looking to get good rental returns, then you should trade in your property for higher yielding properties, unless you're already netting more than 10% rental returns.
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0 votes Thank Flag Link Wed Feb 20, 2013
Its a great time to sell. Its defiantly a sellers market given the low inventory of homes for sale. I have a buyer looking for a house in Campbell 1100-1500 sq ft. If you are interested in selling maybe we can work out a deal. Please contact me.

Travis Jackson
Century 21 M & M Associates
(408) 316 -5954
DRE# 01879566
0 votes Thank Flag Link Wed Feb 20, 2013
Is it a good time to sell. Time will tell. You need to look at your situation and work out numbers for your self. Not sure if you are making money on this property and what you will do with the money after selling.
Jasbir Gujral
0 votes Thank Flag Link Tue Feb 19, 2013
To many variables to give you a straight answer. Here are some things to consider; do you have a good tenant that's covering the rent and or any extra? Does being a landlord work for you, even though it wasn't your plan. If you sold the home, what would you do differently with it gone? Where do you believe the market will be in 6 months, 1 year and beyond? Have you recovered enough equity to clear your mortgage(s) and or your costs?
If you hate being a landlord and have been waiting to sell, this is the best market for seller's we've seen since the crash, however values are not back completely yet in most of the country. A local agent can give you a CMA to determine where you are now. You'll get more than 6 months ago more than likely, but it's may also be likely you'll do even better in 6 more months, but that is just a guess.
0 votes Thank Flag Link Tue Feb 19, 2013
I am a believer in buying and holding. If you sell now, you'll be buying back higher later. Interest rates are climbing, yet considerably lower than when you bought in 2007. Have you thought about refinancing it and holding on to it? As rents go up, any cut in your carrying costs can buy down principal, assuming you have positive cash flow. Once owned free and clear, no matter what the economy does, you'll have shelter, income, and a hard asset that proves to be one of the most stable hedges against inflation.

Ride the wave up until the wave slows. Give it another year to increase in fair market value, but refi now if you can. Like you said, "it gives me great rent."
0 votes Thank Flag Link Tue Feb 19, 2013

Take advantage of this phenomenon!! This is the first time (in a long time) that I can actually say that the local news is spot on!! My prediction is that by summer the market will be infiltrated by lots of new listings and you may have missed the wave of opportunity. Of course I don't have a crystal ball, but I can already see a slow and steady trickle of new listings, which is indicative of sellers seeing this trend and listing their homes.

Check me out on YELP. I would love to help you when you are ready to get your property listed.

Thank you,

Sara Greenwood
0 votes Thank Flag Link Tue Feb 19, 2013
Hi Home:

Right now, depending on where the home is located, it might be an incredible time to sell. Home prices have recovered from the 2008 crash, and in some areas, sales prices are exceeding 10-15% OVER the listing price, with multiple offers, and within 5-7 days after listing the home on the MLS. MY clients put in an offer on a home recently and were surprised to learn that they and SIXTY other buyers were competing for the one home. It was NOT in great condition, and needed a lot of work, but it was located in a highly desirable school district. So there are definitely buyers out there for any home--including homes that are not in the best condition right now.

But to REALLY know if this is the time to sell, you'll need to talk with several agents to get a better feel for the market and the value of your home.

So interview a few agents and get their take on the value of your home. Work with the one you trust and, if this works for you financially, it may certainly be a wonderful time to sell.

Good luck!
Grace Morioka
Allison James Estates & Homes
Tel (408) 426-1616
1.5% Listing Commission, Rebates to Buyers
0 votes Thank Flag Link Tue Feb 19, 2013
It depends... If the projected sale price fits your financial plans - sell. It is great time be a seller.
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0 votes Thank Flag Link Tue Feb 19, 2013
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