Decide to Sell
Why Are You Selling?
For every home buyer making that big decision to buy a home, there is a homeowner who has made the equally-big decision to sell theirs. Deciding whether and when to sell your home is made only after careful analysis of the market and taking into consideration your financial circumstances and life goals. There are many reasons to sell a home and the timing and details must be right. Are you selling in order to buy a larger home or do you want to downsize? Are you moving due to a job transfer? Are you moving to accommodate a family member? Are you leaving Southern California altogether or simply moving to another city within the area? Have you consulted with your tax advisor to determine if you will have any capital gains issues? Are you a senior? Are you aware of the special tax laws that help seniors keep their property tax base low when they move to and from certain California Counties? These are a handful of the questions that arise as we discuss selling with our clients. If you are not sure whether you are ready to sell, we can help review your options and assist you in making your decision.
The lack of inventory is a challenge currently facing home sellers. The same phenomenon is faced by home buyers. How are sellers affected? After all, they have the upper hand in a “seller’s market”, right? True, but once they sell and become a home buyer, they are now on the other end of the equation and face the same stiff competition that all buyers are facing. Sellers also must consider mortgage interest rates (their current rate vs. a rate for a new loan), whether there will be capital gains tax due, and whether they can, in fact, find a suitable replacement home if they sell. There are strategies we can help you with to deal with these challenges. Together we can think through these issues, help you make a plan and a suitable and appropriate real estate decision – and a good life decision.