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Sell now or wait?

Posted by Scott Van Voorhis April 30, 2012 06:26 AM

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That's the dilemma "Josh" in Jamaica Plain is grappling with right now.

He and his siblings own a two-family in JP they want to sell in order to bolster their parents' retirement income.

The house is in a great location between Centre Street and the Jamaica Way across from an elementary school.

Josh acknowledges the house is older and needs a little touching up, but hopes that rising demand in a relatively hot market like JP will encourage buyers to open their wallets anyway.

So should he list now or wait?

Here's how Josh posed the question in an email to me the other day. There's a lot to chew on here.

1. At what point in the market continuum does a home's intrinsic value (location, location, location) rise above its flaws (old kitchens and bathrooms)?
2. Is it worth trying to time the supply/demand curve to maximize our potential; or do we simply list it now and see what the market will bear?

When Josh wrote up, I argued that if he could wait another year, he should. The market is on the rebound and next spring might bring an even better price. After all, you get only one shot to sell.

Josh has opted instead to test the market this summer and see what happens.

What's your take?

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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