Many Southern California people are doing just that. But how do you know if now is the time? They are a few key indicators that helps us determine if now is the right time.
1. There is a supply shortage of homes. We look at a 14 month market snapshot to determine the supply- demand curve. Are listings up or down and what is the absorption rate? This is a key indicator that the time may be now.
2. Interest rates are down so buyers can afford more. The buying power changes as interest rates are going up, meaning less money available for you as a seller. If the rates are predicted to rise, the time may be now to get top dollar.
3. You have taken care of all deferred maintenance. Many times when people have lived in a home for an extended period of time, they may wait to make repairs for awhile.
4. You have made updates and improvements to your property. I know you love brass and seashells, honey oak cabinets and formica countertops- but the buyers out there willing to pay top dollar are savvy. They watch the DIY Network and want themodern appointmentsof today. Many homeowners will tell me, "Well the new owner can do what they want to the home." While that is true, many don't have the money to do so and will discount your home much more than what it would take to update it.
5. If relocating in California and you are a candidate for Prop 60 and Prop 90. If you are over the age of 55 and you are interested in downsizing, Prop 60 and Prop 90 are an amazing program you may benefit from. It basically allows you to transfer your tax basis to a new home up to 2 years after you close.
6. The market is moving up at a higher than normal rate of speed. We all can see this coming, days on market are way down. Homes are selling and buyers are willing to pay over appraised value. This is the time to cash out.
7. Unemployment rate is low and going down. People need jobs to buy homes. The lower the unemployment rate is, the easier it is to get top dollar!
If you would like to get a diagnosis to see if now is the right time in your personal situation to cash out, then please visit www.RequestOurFreeDiagnosis.com for your personal analysis.