Southern California Real Estate Professionals

 Real Estate News and Real Estate Articles of Interest!

Sept, 2004

Article By: Vikki Morrison, First Team Real Estate

According to the economists and soothsayers in the gorgeous county we love to live in; “NOW is the time to sell”.  Of course they get paid for predicting future trends and sometimes they are right and sometimes not. The real bottom line for most home sellers is: "...will this fit into your personal long and short range objectives???"  If you are a move up buyer and simply moving equity; now is probably the best time to make a move,  due to low interest rate loans. It affords you more house for less monthly payment.  If you are relocating for job or personal reasons; the prices are extremely high and you may will be able to take your money from California and buy a portion of the state to which you are moving (or country as the case may be).  If you are selling because you feel the top is reached and you just wish to rent until prices come down, you are on your own; however, you do have a lot of company.  Many people believe the doomsday theories. I try to weigh this type of decision on how much tax write-off you will lose as well as the exceptionally freeing right to home ownership.  Renting is paying someone else’s payments and is virtually a lose situation for the renter except for the “I need a roof over my head concept/reality.”

Is now the time to buy?  If you are renting, ABSOLUTELY.  If you are a move up buyer, your rates are great so ABSOLUTELY.  If you are fishing to turnover a home for a quick profit, remember the tax free $250,000/individual rules of living in the property two out of the past five years.  To evaluate your tax consequences if you sell prior to the 2 year rule; talk to your accountant.

Every person is a unique individual with a unique set of needs and wants.  Answering these questions is not simple as each of us has different goals and aspirations.

The past three weeks there has been a flood of new listings hitting the market as sellers are “taking the money and running” in view of the news of potential interest rate hikes next quarter…That would be July..  For more information regarding your personal goals, call Vikki Morrison at (714) 861-1288.

Past Articles

• I Don't Practice Law

• Historic Long Beach

• Why South West Riverside County? Why Temecula?

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