Need Advice - Should I sell the house or wait another year or two

Asked by Rahul Kumar, Greendale, WI Thu Jan 17, 2013

Hello - Thanks in advance for your inputs. I have a house in plano, which I have currently rented. I bought it in 2007 as Investment property, but there has been no appreciation in the price. The house is in very good area and I have been able to rent it out to most part. As some reports indicate, home prices are going up again. Do you think I should wait another year or two before I sell it? I think I can keep it rented. Recently, with refinancing, I am able to recover most of my money back from rents. But, still, overall in 6 years, I will say I have been under water. Btw, I will have to sell the house, but possibly I can put it off for some time. Please advice.

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7
Abu Musa, Agent, New York, NY
Thu May 30, 2013
If you weihgt price could go up or down. You may make your won plan.
0 votes
John Hamidi, Agent, Frisco, TX
Mon May 27, 2013
Dear Rahul Kumar

if you can its good to wait a little longer you will get better return

if you need my service please let me know

please visit my website of http://www.johnhamidi.kwrealty.com

or call 469-252-4661

and let me know if I can help .

Regards
John
0 votes
Don Groff, Agent, Austin, TX
Thu Jan 17, 2013
Hello Rahul,

While you can never predict what will happen there are a lot of signs that Plano and many areas in Texas will see appreciation in the years ahead. It's usually best to have at least a 5 year time horizon in your case it is probably best to hold onto the property for another year if you are able too.

Your best bet would be to consult a local Realtor and get his or her opinion of the market. It probably makes sense to talk to several too. See what they have to say and if you agree or have a good feeling then make your decision.

Best of luck to you.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Thu Jan 17, 2013
Dear Rahul

Yes the market is headed higher.

Check http://ruthandperry.com/news-letter-housing-trends

and also get in touch with the many fine agents responding to you.

Best regards
P Mistry
Web Reference:  http://ruthandperry.com/
0 votes
Rich Homer, Agent, NAPLES, FL
Thu Jan 17, 2013
Best next action is to ask a local Real Estate Broker by clicking "Find a Pro" in the main menu at the top of this website. http://www.naplesrealestateguys.com/
0 votes
Susie Kay, Agent, Dallas, TX
Thu Jan 17, 2013
Rahul,

Please see my comment on your question that you posted before this one. Feel free to call me to discuss.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes
Amanda Mack, Agent, Watauga, TX
Thu Jan 17, 2013
Are you making money each month on rent? If you must sell what is the overall shape of the home? Location? Right now homes in Plano are selling better than ever before.

Homes in almost all areas of Plano especially ones that are in good condition are selling within days of being on the market and normally have multiple offers. If you must sell I would highly recommend consulting with a local agent that knows the market here about finding the current market price of your home. This would give you a good idea of if you should sell now or wait.

Overall we are in a seller's market right now and this IS the time to list!

I would be happy to help you in any way I can.

Amanda Mack, Realtor
Keller Williams Realty
(214) 299-9714
Web Reference:  http://www.macksells.com
0 votes
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