Rob Rahter, REALTOR

Thinking about selling your house?  Then list it now!  There are several reasons why- I’m going to give you three- with the biggest being the usual one: school starts soon and that brings an end to the traditionally busy selling season.  Many buyers have a goal of being in their new house by the start of school.  To time that correctly, sellers need to subtract a minimum 60 days from the first day of class.  In Orange County, that’s August 24.  (Typical time from contract to close is 30 days, and the other 30 days is best-case scenario to sell.)  That puts the magical ‘cut off’ date to sell by the start of school in Orange County … as June 24^th!   You’re already too late!  And this year, here’s the second reason why you need to list sooner than later:  December 1^st.  As of this writing, homes must close by December 1^st to be eligible for the $8,000 first-time buyer tax credit. Whether you’re selling a home that would be an option for a first-timer or you are selling a home that would be considered a “trade up” home, don’t underestimate the impact that wave has on the lower-end priced homes in the market.  Maybe the December 1^st deadline will be extended – but as of right now – that has not happened.  The third reason why you should list now:  interest rates.  Have you noticed?  They’re going up!  And most industry watchers do not think they’re going to be coming down anytime soon.  Yes, the ‘glory days’ may soon be a memory. 

And if you’re waiting for the value of your current house to come back to where it was a couple of years ago – big mistake.  The value of the house you are going to buy is going to go up too – and if that new house is bigger and in a better area than your current home, which home do you think will appreciate faster?  Let’s say that house appreciates $50,000 in the same time yours appreciates $10,000 or $20,000.  Don’t make the same mistake twice.  One school of thought I heard is … anyone who thinks they’ll be looking to trade up to a larger home anytime in the next 5 years, needs to be doing it now!   And appreciation is the reason why.