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Selling • What's My Home Worth? • Maintaining Your Home • Is Now the Time to Sell? • Lowering Your Capital Gains Tax Obligations • Inexpensive Ways to Make a Great First Impression • Setting Your Price • Earning My Fee • Our Current Buyers • Seller's Guide • FSBO First Aid Kit • Recent Local Home Sales • Real Estate Calculators • Stop the Rumors About Mold • Move-in Checklist • Testimonials |
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  Is Now The Time To Sell? The word on Wall Street -- at least according to assorted seers, soothsayers and analysts -- is that now is a very good time to have cash, lots of cash, so that as stock prices fall investors will be well-positioned to pick up bargains. It's an interesting perspective and raises an obvious question: Is now also a good time to sell real estate? Home values have been steadily rising in most communities, a stunning contrast -- and a relief -- when compared to what's happening on Wall Street. The Dow Jones Industrial average, for example, closed at 8,019.26 on Friday, down more than 2,700 points from the final bell on January 14, 2000 when the Dow topped out at 11,722.98. So should you hoard cash with the expectation that property prices will fall and real estate bargains will be available down the road? And if you think prices will fall, is now the time to sell? Real estate is a local commodity and prices can go up and down. But real estate and the stock market are vastly different forms of investment, which means the strategy which works for one may not work for the other. How do real estate and the stock market differ? The "New Economy" produced a great stock market ride, in some measure because it fed on itself -- if a stock was valued at $10 according to whispers, rumors and the phase of the moon, then why should it not rise to $20? But with the loss of some $6 trillion in stock values during the past two years, the ride is over. Meanwhile, residential real estate has been used and continues to be used for housing, something everyone needs and understands. Many once-burned shareholders are not going back into the stock market for a very long time, regardless of where prices rest. With real estate, whether prices rise or fall people still want housing, a reality which establishes some basis for value. While the stock market can issue more shares at any time, there are no real estate IPOs where new acreage is magically created with lawyers and paperwork. The old joke about real estate -- they're not making any more of it -- is both ironic and true. There are no real estate short-sellers looking to make profits by holding onto homes as prices decline. While the stock market has been floundering, the basic elements which power real estate demand have not subsided -- people still want to live indoors, the population is increasing, we crowd around desirable areas, and there are significant leverage and tax advantages associated with homeownership that are unavailable with stock. Equally important, interest rates are at the lowest levels seen in years and anti-development efforts continue to hold down new supply. But if you're concerned about the economy in general -- and it is reasonable to be concerned -- there are some prudent steps you may want to consider: Reduce credit card debt -- the rates are high and the interest is generally not deductible. Get a line-of-credit home equity loan so that if you need cash it will be instantly available. Check out today's mortgage rates. Should you refinance to a lower rate? Go from a 30-year loan to 15 years? Speak with local lenders for details. Watch economic trends in your community. Is the population going up or down? What about the job base? How are sale prices compared to six months ago? Is sale volume rising or falling? Local brokers can help with real estate questions. Written by Peter G. Miller July 23, 2002 Feel free to contact us if we can be of any service! | |
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Find A Home In Las Vegas and Southern California, including Los Angeles, San Diego, Orange County, Riverside, Ventura and surrounding areas! WestCoastHome.com specializes in assisting buyers and sellers with all types of residential real estate, commercial real estate, and industrial real estate. Whenever buying or selling, WestCoastHome can assist in your transaction for a home, house, condo, townhome, townhouse, luxury estate, beach property, ocean side property, beach front real estate, mansion, vacation house, ranch, land, farm, castle, foreclosure, foreclose, reo, corporate relocation, apartment building, office, office building, retail center, shopping center, income property, residential income, 1031, 1031 exchange, triple net, leased, and property investments. Search multiple listing services: mls, property listing service, list your property, listing service, property posting, real estate listings, Automated Home finder, Socal mls, real estate mls, real estate listing service, real estate posting, mls, multiple listing service, fsbo, for sale by owner, sale by owner, cma, comparative market analysis, comparable market analysis, comps, comp, recent sale, customized listing campaign, customized marketing. Simplify the relocation process. Ask for a free consultation for free advice, when you are planning to relocate and home values. If you are a seller, you will be provided with a customized marketing and advertising listing campaign report complete with sales comps, free home valuation, and mls inventory evaluation. Besides info on real estate matters, internet mortgages, trust deeds, loans, school reports, home improvement, tax tips, and city, county, and state demographic information, property reports, Home buyers guides, Home Sellers guides and real estate investing, we can help with property management. Sellers can find their home value at http://www.WestCoastHome.com. If you are a buyer or a seller, when you decide to buy or sell, choose an expert agent who knows the way to sell your home fast with the latest in technology. Depend on WestCoastHome.com to help you in the So Cal neighborhoods of
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