Sell now or wait - Posted by magega

Real Estate Investing
1

Posted by Nancy – Los Angeles on September 17, 2004 at 17:03:45:

If I were you , I’d sell the one in Orange for sure. The market has really slowed down, it’ll just get worse after election. Bruce Norris just talked about down hill CA market, I think it’s better to buy with 1031 exchange in other states… If you put it on the market now you should be able to have everything done by Dec. how much you will have to pay capital gain tax if for some reason you can’t finish the 1031 exchange?

Nancy

2

Sell now or wait - Posted by magega

Posted by magega on September 15, 2004 at 18:56:31:

Looking to sell Orange County, CA SFR rental and buy other properties possibly in Phoenix area.

Issues with selling (putting property up for sale)

  1. Properties moving very slowly at this time
  2. So likely selling (x1031) and closing escrow will be at least 2 months
  3. I’ll be out of the country all of December
  4. Holiday season coming up
  5. 45 day x1031 window to select new properties

Issues with not selling

  1. Property values dropping locally
  2. Property values in target area rising
  3. Local market could be worse next year

Seems to me that logistically I’ll need to wait, but??

Any comments on whether I should sell or wait next year to start this(say February)???

Thanks.