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With the market as it is would I be wise to sell or continue to lease my property

196 Pajarito Ct, Brentwood, CA  94513
3bed 2bath
  • June 12 2013 - Brentwood
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Answers (6)

You have received some very good responses so far.  I will just add that supply has increased about 25% since last month.  This may lower the advantage sellers have with the low inventory.  Throw in that rates are creeping back up to 4% and I think you have two good reasons to go with your guy and sell at this time.
  • June 18 2013
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It can be difficult to time the market just right.  It does seem that you can identify the height of the market, when it is already on it's way back down...and vice versa. Your best option would be to consult with a trusted REALTOR who specializes in your area.  They will have access to market statistics, can provide you with comparable property information, an estimated net proceeds amount for you, among other things.  In addition, you should probably consult with your accountant to see if there would be any tax consequences that you should look out for as well.
  • June 18 2013
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Profile picture for Pacita Dimacali
Here's an article you may want to read

House prices projected to increase

That's a good thing, too. Since California (Bay area included) had seen our property values drop quite a bit. But now that it seems we have turned the corner, and we're back in a seller's market, some sellers are taking advantage.

When properties are priced right and show well, there is a high possibility of getting multiple offers which may even be at over list price.

If you have a pressing need to sell, your timing may be right, and you should do it now.
1. Demand for housing is strong
2. Inventory is low
3. You may be competing with new construction soon

Good luck.
  • June 14 2013
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Profile picture for Pacita Dimacali
Do you have a pressing need to sell your property?  If you do, your timing may be just right.

Buyers are scrambling to take advantage of the low interest rates, and as such have created a sellers market wherein properties receive multiple offers oftentimes at above list price. Of course, it depends on the price. If you overprice, your property may languish on the market. Overpricing remains as the top reason why properties don't sell.

But if you price it right, the property shows well.....good things may go your way,

Here's a blog series you may want to read

3 Reasons to sell your house today (Part 1)

1. Demand for real estate is much stronger this year
2. Housing supply is low
3. New construction will soon be your competition

  • June 14 2013
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Thanks for the question, but that is a tough one to answer accurately without knowing more information that probably should not be posted on a public forum. To properly answer your question, we would need to understand your goals, needs, next steps, what type of property you are selling (investment or primary residence), how much money you have invested in the property, etc. I would suggest you select a couple of Realtors in your area to reach out to. They can provide you with a detailed analysis of your home's value and help you understand the pros and cons of selling and the net proceeds you may realize. Armed with some details you will be better able to judge whether now is the right time to sell for you.

The right time to sell, is when it is the right lifestyle choice and makes the most sense from a financial standpoint. Just because the market is hot, doesn't necessarily mean it is the right time for you to sell.

Best of luck.
  • June 12 2013
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Now is the best time to sell due to low inventory.  Home prices have gone up.  However, as we all know we are currently in an artificial market.  Once more bank owned and short sale listings come out, the market will again adjust to where it should really be.
  • June 12 2013
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