To List, or Not to List ... Your Property

This week we start a three part series pertaining to listing your home, buying property and open houses.

Today we’ll discuss the reasons to list your property and whether or not you may want to wait.

Most consumers by now are aware that selling your home in today’s market is taking longer and you will not yield the strong profit you desire. If you purchased your property within the last few years and you don’t have to sell, then you shouldn’t. If you have a strong equity base but no reason to sell, then don’t. You can maximize the profit on your house when the real estate market comes back.

Here’s why you should sell. If you are in financial distress and need to liquidate a real estate asset, banks are working with consumers to sell property through short sales. This allows you to market your property in line with today’s prices in order to stay competitive.

Another reason to sell is if you want to buy a larger property. Now is the time. Selling your existing home at a slight loss or for a lower yield is worth the gain you’ll receive on the new property when the market rebounds. The potential loss that you incur due to selling at a lower price will all be forgotten when you are in a new home and the appreciation starts.

If the property is an investment home, the loss could be a potential tax benefit. Check with your accountant.

Check back next week when we explore what is motivating buyers to act in this market.