The Top 10 Reasons to Sell in 2011 (6-10)

As promised, here are the final 5 reasons to sell in 2011:

6) Few Believe It Will Get Much Better in 2013.
This recovery will be long and slow. Most economists don't see unemployment dropping to its "normal" level (5 to 6%) for another 5 years. It typically takes real estate 5 years to recover from a 25% drop in prices and there are some areas in Southern California that suffered a 50% drop in prices. Even if 2013 improves, it will do so incrementally.

7) It May Be A Great Time to Move ON.
The nice aspect about this recession (if there is anything nice about a recession) is that it is national in scope. It seems like no part of the country escaped unscathed, and if you are thinking of selling and moving on with your life, the prices should be reasonable wherever you are moving. If you like where you live and have the means, refinance and stay. If you ever had plans to retire or pursue a higher quality of life elsewhere, now may be the time to do so.

8) No Capital Gains on Most Sales.
With every city, county, state and even the federal government looking for additional revenue, they have yet to tap homeowner's equity as a tax vehicle. For most homeowners, the sale of their property will not result in a capital gains tax. Married couples can net $500,000 from the sale of their primary residence, and not pay a penny in taxes.

9) Few Believe It Will Get Much Better in 2014.
Even if the market starts to improve in 2013 or 2014, the first action by the Federal Reserve and the Central Bank will be to increase interest rates and cool down the economy. The first victim of increased interest rates is the housing market. Additionally, with the federal deficit sitting at 1 trillion dollars, there will be added pressure to increase personal taxes and elimate tax reductions such as the mortgage interest deduction. Once again, it may get slowly, incrementally better, but not signifantly better than 2011.

10) Who Knows What Tomorrow Way Bring?
This is perhaps the most important reason to sell when you feel you want to. I have met a number of folks who have waited for a better market, higher prices, or lower rates, and by the time the stars align, the opportunity has passed. Someone once told me, "Make the best decision you can with the best information you have at hand.", and I believe that. Sometimes we miss on life waiting for things we cannot control to occur. If you feel it is time to move up or on, and have the capacity and desire to do so, I suggest doing so.

There you have it: the 10 reasons to sell in 2011. I hope this has been illuminating or at least partially entertaining. If you have additional questions or just want to discuess your particular situation, feel free to call or email.