Making that Decision to Sell

The market is depressed and has been for some time now. Housing prices have virtually been cut in half. Here it is...it's become time for you to sell that house. You are thinking about how much you can get for it in this poor market environment. Should you wait? Should you hope that the market will go back up and then sell it. I have talked to many a home owner faced with that situation. The advice that I give them is don't wait. Remember, buying power is buying power. Meaning, you may get less for your house now, but when you go to re-invest it into another property, that properties price will also be depressed. If you choose wisely, your purchase of the next property will and can assure you of a good return on your new investment. I just recently had a customer who listened to me. They had a couple of properties that if they sold them they would take a beating on them. We sat down and researched the market in our area and found them a fantastic buy. They sold the other two properties...took a loss...and then re-invested it into the house we had researched. The other day...it has been about a year since they made the purchase...I did some research for them and found out that their property that they just purchased increased in value by 30k. Quite a return on their investment in one year. I don't know of any investment plan, retirement plan or stock account where you can make that much money in one year. For those of you who want to know, they bought a house on the water with immediate access to the gulf. As the years go by, that property can only continue to go up in value. There is only so much of it to go around. Furthermore, the opportunity to buy such a fantastic property at such a reduced rate is going to be very few and far between. So in short, my advice is sell it, find a good Realtor and research the market hard. Then make that money back up... and then some...Wayne