By Nef Cortez
How can it be a good time to buy and at the same time a good time to sell?
Real Estate is local! Although Macroeconomic factors are the overall influence on the real estate market, individual property values are most influenced by local market conditions. We have all heard the mantra “Location, Location, Location!” in describing the desirability of homes. The right area…the right school district…and for some people, even the right orientation.
So when is it a good time to sell?
Now would be a good time to sell and “move up”, If you are going to outgrow your current residence within 2-5 years, thereby locking in an interest rate that is still close to historical lows at just under 4 %.
If you are going to downsize due to retirement, or have become an empty nester, it is a good time to sell and lock in the dramatic gains achieved by the huge increase in property values over the last 5 years. Even if you go out and rent for a while, because you are not able to determine exactly where you want to settle in…it might be better to rent in a couple of different locations, sort of “scouting” those areas out to make sure you like them before making the permanent investment.
This article was written by Nef Cortez, a licensed Real Estate Broker, Ca BRE # 00560181 since 1976. He can be reached via e-mail at email@example.com. Please feel free to email any questions regarding real estate.