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How to know when it is the right time to sell

I purchased my first property 3 years ago, and since my procurement of the property the value has steady risen 15% each year. Now that the value has gone up nearly 50% in 3 years I don't know if I should be looking to sell or wait out a few more years to see if the value continues to rise?
  • August 18 2014 - Cape Coral
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Answers (9)

The right time to sell is a personal decision based of your wants and needs. Have you outgrown the house?  Do you have other needs? Want a different layout? New school choice area? Want to live on the water?  Move closer to parks? 

The great news is it sounds like you are in an excellent position to make that move if you choose too. 

Contact a local agent like myself to find out what homes are available on the market and all of your options moving forward. 

If you decide to wait for the market to go up chances are the price of your next home is moving up as well. 
  • December 12 2014
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Hooray for you!  As a Cape Coral realtor and investor, you did everything right.  
But why sell?  Where are you going to move? All homes in Lee County have risen.
And suppose you do sell and now have a fat wallet, what are you going to do with
that money? Buy a bigger home and have a bigger mortgage or get a CD that may
get 1% a year? Don't even consider going back to renting because rent has increased
even more here in Cape Coral.
If you are staying local then don't sell and enjoy your home even more knowing what
a great investment you have made. Congratulations.

  • August 26 2014
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I like Danielle Sharp's response the best, "Anytime is good to sell - if it's the right time for you." You are at a point where you have built a significant amount of equity within your home and you may be looking to expand to a different home. If the home mortgage is affordable and there is a rental market, you could rent the property out and move to another one that better suits your needs, if you are not ready to buy. Weigh your options and try to find the one rings true for you. If you have any questions, I would be happy to speak with you by phone for a buyer/investor consultation. Best of luck!
  • August 26 2014
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In general the market has improved and will improve for years to come. It may not improve as fast and high as in 2013, but a steady home price increase are expected.

Every market is local and some markets experience different growth. Keep an eye on your local market and trust your guts. The time to sell needs to be the right time for you.

Annett T. Block
Florida Connects inc. 

 
  • August 19 2014
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Anytime is good to sell - if it's the right time for you. Your personal circumstances, goals etc should determine when the time to move is right.

If your current property does not suit your lifestyle or family - it may be time to sell. If your job is relocating you - it may be time sell.

Chasing the market is not a great idea. As your own home rises in value, all other properties in that market increase commensurately.
  • August 19 2014
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No one really knows where the market will go from here.  Could be really good, fair, or maybe slowing down.  Selling really depends on what your personal situation is.  It's good that you are monitoring the market and the equity that you now have in the property.  Questions I pose to my sellers include - If you were to sell it, where would you go and would you buy or rent again?  Did you buy your home purely for an investment and financial profit?  If so, then you might likely want to sell it in the next year or two.  If you bought the home for more than financial reasons, then maybe you stay and enjoy your home, and have  the peace of mind of knowing you're ahead of the numbers game right now.
  • August 18 2014
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There are many leading indicators of a market that is potentially nearing the end of its up cycle. Some trends you may want to look at in your local market are: # of sales, average days on market and # months of inventory. As always an experienced professional in your area should be able to put some numbers together for your review.

  • August 18 2014
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Asking a question like that is like going to your stock broker and asking which stock to buy with your $200,000 you have available. It's a guess so make it as much of an educated guess as you can. Every market is different, if ours was going up 15% a year, and it really was doing that (and I question your number), with the current economy only being able to get better in the future I would hold another year and then re-evaluate later.
  • August 18 2014
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Now is a great time to sell - buyers are plentiful and mortgage interest rates are still low.
  • August 18 2014
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