Is Now the Time to Sell?
This is a BUYER's market. That raises an obvious and interesting question: Is now a good time to sell real estate? Yes...if you use a Buyers Market Strategy, and you bought right to begin with.
Property values have been steadily correcting in most communities, a contrast to the last few years of buying frenzy. Prices have jumped dramatically as high as 25% to 50%. Now everything has come to a screeching halt, but has it really? No. The market is just stabilizing, so we have to adjust with it. Price your property right, and it will sell. And we highly doubt you're going to have to cut the price 25% to 50% to make a profit, unless you bought incorrectly?
Here's the bottom line: If you think the market is going down, and you want to sell reasonably soon, then you should probably consider selling now. Things are likely going to get worse before they get better. On the other hand, if you can ride out the correction and wait until appreciation stabilizes, and you don't have a good reason to sell, then just hold on. Be prepared though to have to hold on for awhile.
Also, don't forget that you are going to buy in the same market you are going to sell in. When you compare dollar for dollar in a short timeframe, things tend to wash fairly even. But with the right professional advisor, you'll be able to sell the best you possibly can and then buy the best you possibly can. This way you will come out ahead.
The other thing you can do is cash-out your equity and invest in cash-flowing real estate in other parts of the country that are actually doing quite well. We can show you how to do this.
As long as you are reasonable about your timeframes and expectations, you can purchase property in other markets that will cash-flow for a higher rate than the rate you can borrow the money. This requires experience and expertise to help you avoid key mistakes that an improperly represented investor might make.
Feel free to contact us with any questions!
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