In most areas median home sale prices have risen significantly from this time last year, to now. According to Zillow, the 2021 housing market will be the hottest in recent history and may be the last of it’s kind
Many homeowners bought their properties, years ago and most likely for a lot less than what homes are currently selling for.
Homeowner’s have held on to those properties over the years, to use as rental properties to make extra money. However, the one thing COVID reinforced for many landlords, is that rental money is not guaranteed money.
COVID showed us that in the wake of a natural disaster, that tenants would not be forced to pay rent and would not be evicted for not paying rent.
If your home was a stock, most people would have sold it already. In the stock market most people buy low and sell high, which makes sense.
So shouldn’t it be the same with Real Estate? If you bought your property low, made money off of it, throughout the years, from renting it out. Wouldn’t it now be time to sell and get the big cash out?
Some people would say, but what about property gains tax? my response is, you will have to pay property gains eventually when you sell, so why not pay it now and get the most money you can out of your property, while you can.
These record high prices will not last forever, do not look back in a couple of years and say I should have sold back in 2021!
Have a home you need to sell in San Diego, or Binghamton?
Call West East Real Estate today and let me connect you with one of our agents, who can help you sell your home!
Seekia Morrison, Real Estate Broker & Owner
West East Real Estate