The answer to the question "Should I sell now?" depends very much on where you will be moving after you sell.Your answer will be very different depending on whether or not you're staying in the same area or relocating to a different real estate market.
There's a saying that helps answer this question for you; "All boats in the harbor rise and fall together with the tide". This simply means that in a given real estate market, when prices go up for one home, they go up for all homes and vice-versa.
Consider this: Is it better to sell in a rising or a falling market? If you will be buying in the same market after you sell, it's better to sell in a falling market. The reason is that you will be buying someone else's property at a price point that continues to drop in the declining market after you've sold your property and pulled your money safely off the table.
Conversely, if you sell in a rising market, you will be buying someone else's property at a higher price since it will continue to appreciate while your money is off the table after you've sold.
Naturally, if you are relocating you must consider the new market that you're moving to. It's an altogether different "harbor" in the boat analogy, and subject to different "tides".
This is only one factor to consider in the selling decision, but it's an important one. Please feel free to contact me if you have any questions about selling your property.
Reach me at: michael.sussilleaux@gmail.com
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