It's a great time to sell your house.
Why? We are seeing a housing recovery. Especially in California, where prices have fallen drastically in the last 6 years. If you have been waiting to sell your house, it is a great time to consider doing so. You might be thinking that if now is a good time, then you should wait for even more of an increase. Right? Wrong.
Interest rates are artificially low. It's not normal. Unemployment is better, but not great. It's not normal. Wages haven't increased. It's not normal. There are still many houses in foreclosure that haven't been taken back by the bank. It's not normal. Do you see the picture? How long will this new "bubble" last? It could be through this year. Maybe shorter, maybe longer. The US still has MAJOR economic problems, so don't count on the price appreciation to pick-up where it left off.
Timing is everything when you sell your house.
Read this great article that talks about what I am saying. You will see that I am not the only one that is skeptical about the length of the recovery. There is a lot at stake to keep the housing market stable, but it is unrealistic to think that appreciation can just continue like it did the last time around. Hopefully, we won't have as bad of a downturn, but who knows.
Should you sell your house now?
If you have been waiting to sell your house, then the answer is most likely "yes." If you don't have a reason to sell your house, then I wouldn't rush into selling. But if you have been waiting for a healthy market, you are in it right now.