Time to sell in CC? (Cape Coral: for sale, real estate market, 2013)

[saramc]

My husband and I are hoping to relocate to upstate NY to be closer to family within the next 2 - 3 years. We own a 4 bedroom, 2 bath home in NE Cape Coral. We bought at a good time and closed on our home in 2010. I have been reading that right now is actually a great time to sell because homes in this price range have greatly decreased over the last few years. Any advice on trying to sell right now as oppossed to in another year or so?

[nhkev]

Originally Posted by saramc

My husband and I are hoping to relocate to upstate NY to be closer to family within the next 2 - 3 years. We own a 4 bedroom, 2 bath home in NE Cape Coral. We bought at a good time and closed on our home in 2010. I have been reading that right now is actually a great time to sell because homes in this price range have greatly decreased over the last few years. Any advice on trying to sell right now as oppossed to in another year or so?

it may be a good time to sell. interest rates are at record lows and even though prices came up quite a bit locally in cape coral they have pretty much bottomed w/o the increase in many areas of the country (not really sure about upstate ny I don't follow that area) but if you are selling to buy another house it is totally different than buying and selling as an investment. If you waited a year and the value of your home went up 10% but what ever you planned on buying went up 10% you'd be better off selling because you pay the commision on the 10% your selling. the other thing is eventually when utilities get close to going in and having to deal with the assessments it is going to be an adverse selling condition. right now they are far enough away in the northeast it is a non factor. So my take would be sell Feb, March, April of 2013.

As far as an investment still a lot of upside to come so for the ones who bought to live here, future retire or invest not the best time to sell.

[xoomer]

There is a saying in real estate to the effect that you can't win at both ends--IOW, you can't sell a house and buy a house--in the same general price range--at the same time and expect to win with both transactions.

Who knows what will happen in a year or two? It could be the housing market skyrockets or falls to depression era levels--you would need a crystal ball to know. I would just make my decision to move depending on where you want to live instead of trying to predict the market--something nobody has ever been able to successfully do.

[saramc]

Thanks for the responses! Our problem is that we definitely want to make the move, but just are not sure when we can make it happen. The job market for teachers in upstate ny is difficult at best. My dilemma is do we sell now and rent hoping to eventually find work up there or hold on to our house until we find jobs. We are not investors and this has been our first home. I love my house and would be heartbroken if we sell and end up not being able to make the move to NY because of the job market. Tough decision either way!

[hiknapster]

Get a job. Move. Rent out until you can sell.

[xoomer]

It sounds like the "job" is the deciding factor so you need to get a job secured before anything else, IMO. If you start trying to get ahead of yourself by selling your home here before you get a job it would be a major gamble that could easily go wrong.

Personally, I wouldn't want to be a landlord, especially from 1500 miles away, so I would just plan on putting the house on the market as soon as you get a job. You can always sell your house here if you are willing to put it up for sale a bit below the market price level. You might want to get the ball rolling by talking to a real estate agent to see what your house would bring in the current market--at least you would have a better idea as to the feasibility of your plan.

[equalrightsforeveryone]

This should give you a very good idea on the health of the local real estate market, scroll down to the bottom of the page and take a close look at the real estate sales in Cape Coma. in the second quarter.
That little nubben above Q2, oh and of course we are in a real estate recovery or at least that is what they tell you.
//www.city-data.com/city/Cape-Coral-Florida.html

[Izmack]

You mean the data from 2009?

Originally Posted by equalrightsforeveryone

This should give you a very good idea on the health of the local real estate market, scroll down to the bottom of the page and take a close look at the real estate sales in Cape Coma. in the second quarter.
That little nubben above Q2, oh and of course we are in a real estate recovery or at least that is what they tell you.
//www.city-data.com/city/Cape-Coral-Florida.html

[nhkev]

Originally Posted by equalrightsforeveryone

This should give you a very good idea on the health of the local real estate market, scroll down to the bottom of the page and take a close look at the real estate sales in Cape Coma. in the second quarter.
That little nubben above Q2, oh and of course we are in a real estate recovery or at least that is what they tell you.
//www.city-data.com/city/Cape-Coral-Florida.html

usually when you see a chart like that equal and the very last entry is way off, it's usually because it isn't fully prepared yet. If you were to go back to it in 2 months or so it will look completely different. Anyway I don't know where they get that chart from. it says the median home price is about $160k in q2 and it was put out by the local realtors at $127k so there is quite a discrepancy there as well. q2 is also usually the busiest months for sales, I followed it for those months and they weren't what the chart shows. So yes equal we are in a real estate recovery but you will still ignore hundreds of data points and seek out that one piece of incomplete or incorrect data point to prove your wrong assumptions.