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When Is It Best To Sell home?

Posted Monday, October 22, 2012

If you own property, you might be wondering when you should sell it. Maybe you have outgrown your present home, and need an extra bedroom. You might want to downsize because all the kids have left the nest. There are numerous reasons, but some of the most common ones are as follows:

If you have an investment property, and it is not yielding as much profit as you would like, you might look for something else. Maybe you are interested in increasing your portfolio. It makes sense to look for something that will bring in a higher margin of profit. You will need to do a 1031 tax exchange, but that is easy. Always be on the look out for a property that will bring in more money for you.

If you own income property and it is taking a lot of time to manage it, you might want to find something that will allow you to see a profit, but not take hours of time to manage. For example, if you own three small rentals in a low income area, they might require a lot of small repairs. Sometimes people have trouble paying rent and it is difficult to collect. Maybe it is time to find a commercial piece of property and sell the three smaller units. Commercial property is priced very well right now and the exchange might be the answer.

Maybe you are getting older, and tired of having investment property. It can be draining to deal with it and there are other places to put your money. Selling the properties and investing the money could be a good answer. Some people like to invest in treasury bonds because they feel they are safe. Others will want to look at the stock market. No need to worry about what happens in the real estate market anymore. It can provide a certain amount of peace of mind. Look on the internet under “sell my property” and you will be surprised to see all the advice that comes up. Much of it talks about selling investment properties and investing in other things.

Maybe you need a bigger home because you just had twins. You have been waiting to sell because you were worried about the market. With all the foreclosures and short sales out there, it can be hard to get a good price for your home. Now might be the best time. Things are starting to sell because the inventory is low. You may not get the high price you would have gotten several ago, but you will be able to make up the difference when you buy. You new home will also be at a very good price. With interest rates so low, it might be the right time to move. Call a good realtor today and say “I want to sell my property”. That will get the ball rolling and you will be on your way. It all starts with a single call.