Many of you have heard the term, "Seller's Market" lately. Well, we certainly are in one right now in the Bay Area. Inventory is low and the buyers are plenty. That reality leads some homeowners to consider selling. Is that a good idea? There are three things most folks will consider:
Where would you move if you did sell?
Should you wait and hope that you can fetch an even higher price for your home?
Should you sell your house as it is or do work on it first?
Some folks know they want to move out of state or to a less populated area and plan to take their windfall and buy a property with all cash, where their money goes further. Others would really like to stay put but need a cash injection and hope selling could solve that problem. Regarding whether or not to wait for the market to grow even more, well, if only we all had that crystal ball! And, to remodel or not to remodel before you sell - that's a cost/benefit analysis for which you need some real knowledge!
Here is my recommendation - talk to a Realtor. Every Realtor I know is more than happy to sit down and pour over the details with potential sellers. These questions, that can seem unanswerable, can likely be tamed in a conversation or two. Knowledge is power and there is no power without data. Before you consider selling you absolutely must have a realistic sense of what the market will likely bring for your specific home. Not your neighbor's home, but your home. A Realtor can give you a sense of what type of construction on your home will be a financial benefit, she can refer you to contractors of all sorts, she can even run the work for you if you do decide to sell.
After speaking with a Realtor you may decide to wait - perhaps you don't want to move at all after you have looked at the numbers. And that is ok too. A Realtor doesn't only work in the world of buying and selling, we also work in the world of sitting still for a while!