Selling Your Torrance House
Now that the housing market is doing better, you may be wondering if you should sell your Torrance house now or wait? It boils down to this, what is the reason you are going to sell your Torrance house?
Should you sell your Torrance house now if you have financial problems? The answer may be "yes", if the equity in your house can solved y
our financial problems. And furthermore, if you are in foreclosure in your Torrance house, and don't have the cash to bring your loan current, you may need to sell your house quickly. Not only are foreclosures stressful to go through, they are very bad for your credit, and may result in you losing your house to auction on the court house steps.
If you are having financial problems, be proactive in either selling your Torrance house or in finding another solution quickly.
If you are relocating, you may be debating whether to sell your Torrance house or rent it out. Well, that all depends. If you have cash tied up in your Torrance home, will you need it to buy or rent in your new location? Can you manage renters from far away? Are you able to afford a professional property management company to handle the renters for you? And will you have extra money to fix things as they break or wear out? For instance, I need to replace a heater at one of my rentals. The bids are coming in between $4,000 and $7,000.
You may be ready to retire and are considering downsizing or moving to a less expensive state. You may also have quite a bit of equity in your Torrance house. Does it make sense to sell now? Remember, if it's your primary residence and you've lived there for over 2 of the last 5 years, you can deduct $250,000 (or $500,000 if married) from your capital gains.
Whether you are in one of the above situations or another one (like inheriting a Torrance house or getting a divorce), consider your options. The real estate market in Torrance is healthy (finally) and it is a great time to sell.