I own a 3 unit property in Rosemead and am wondering if I should hold onto it or sell it at a loss. Will the market pick up in this area?

Asked by Ugoigo, Rosemead, CA Tue Jul 24, 2012

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Dorene Slavi…, Agent, Torrance, CA
Sat Aug 4, 2012
Dear Ugoigo,
Well, the question would be, do you have to sell this property at a loss now? Can you wait to see how the market balances in the near future? Economists do predict that we are now in a recovery, but it will take time and it will be slow. It all depends upon you and your personal situation.
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carlos parra…, Other Pro, Monrovia, CA
Sat Aug 4, 2012
The answer to this depends on your personal situation.
Is the property paying for itself right now or are you having to continue to take out of pocket to fulfill financial obligation?
If the property is paying for itself, then I would recommend keeping it.
However, again it depends on your personal situation. You may actually be able to benefit from a loss.
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