Sell home now or 2015?
We need to decide to sell our home now or next year. Current tenant is moving out and it's kicked us in the butt to make a decision.
We live in the Bay Area and bought at the peak. House prices are finally recovering in our area and the supply is so low that the good ones are snatched up with multiple offers quickly. We may break even on this house if we're lucky (negative after realtor fees, etc)
The market IS going up in our area so hubby wants to wait and lease for another year. Rent would not cover mortgage, insurances and taxes but he believes the payoff selling next year covers that loss.
But with interest rates potentially rising, more supply next year and other factors we cannot plan for, is the time now to list? If we were to list now, we know our house will stand out and make a big splash and there are tons of buyers just waiting and watching.
Our concern is not that the house won't sell (it absolutely will), it's deciding if waiting and renting is thr smart choice in a currently rising market.
Any advice? Anyone experience something similar?