8 Great Propositions and/or Reasons You May Want to Sell NOW

If you’ve weathered the storm through the great recession and managed to hang on to your home, here are 8 great propositions and/or reasons why you might want to consider selling now:

1)   Home values have appreciated to close to pre-recession rates.

2)   Your kids have moved out and your house is too big, or the stairs are too much, and you are considering downsizing but don’t want to give up your low property tax base. Do you know about PROP 60 & PROP 90 that allows homeowners 55 and older to transfer their property tax base to a purchase of equal or lesser value in participating counties?

3)   Your house is too big, so you want to sell it to your kids. Do you know about PROP 58 that allows you to transfer your property tax base to your children?

4)   You own an investment property but want to begin a new depreciation schedule by selling it and purchasing a new property, but don’t want to pay capital gains taxes.  Do you know about 1031 Exchanges? An exchange allows you to sell your investment and purchase a new ‘like’ property of equal or greater value and defer your capital gains taxes.

5)   You are married and ready to retire and want to move out of state. Do you know that married couples can exclude $500,000 from taxation on the sale of real estate? ($250,000 per individual).

6)   Statistics show that there is currently less than 6 months of housing inventory available in Orange County, technically making it a ‘seller’s’ market, and homes are taking between 30 and 60 days to sell if they are priced right in the beach areas.

7)   The selling season in Orange County begins the weekend after Superbowl Sunday and typically stays strong until the kids go back to school in September.

8)   Interest Rates remain low, so there is a good pool of buyers out there.

If you’ve been a ‘dormant’ seller – one who wants to sell, but has been waiting for the right time, really consider the 8 reasons above.