Should I sell my home in today’s market or should I wait and rent it out until the market goes back up?
These are two questions I hear a lot these days. In order for me to answer these questions, I must ask a couple questions myself. First off, if you sell your home, what’s your next move? If you are planning on buying another home or property you’re going to benefit from this market on the buying end. In some cases, you may be buying in a different market that has been hit harder. To address the second question, in regards to renting out your property and waiting for the market to go back up; I would ask what’s your time frame? If you are only planning to rent it out for a year or two, then you probably won’t see the market appreciate much.
Lastly where and what kind of property are we talking about? There are some properties that simply put, are “special”. These properties usually have something hard to find like waterfront view, great curb appeal, or a huge lot. In other words, supply and demand takes place; if supply is low, then the the market is always high. Finally, stop listening to everyone’s opinion, stop believing the sky is falling because the newspaper chooses to report bad news then shape it to effect you. I had a close friend recently tell me ” Mac, did you know that 1 out of 5 homeowners are losing there home in California.” To which I responded, “then 4 out of 5 people aren’t loosing their homes.”