Is now the right time to sell?
It may be simply time, now that market values are higher than at any time in the past 3-4 years, to move on with one’s life. The market is seeing an extraordinary level of demand, multiple offers are common and many sales are occurring for well over asking price. In some neighborhoods, values are approaching those achieved during the peak of the market in 2007/2008. If one is moving out of San Francisco, then as SF is on the leading edge of the rebounding market, one can take the increased values out of their property here and buy in an area where prices have not significantly increased…yet.
If one is planning to buy a more expensive home, then in an appreciating market, one will save more money selling one’s current property (even before it appreciates further) and buying the new, higher-priced home (before it appreciates further): the higher the price range the greater the amount of dollars appreciation adds to the price.
Though it appears that the market is on a sustained trend of appreciation, the future is always unknown, and political and financial crises could derail the recovery. If one believes such a crisis is likely, it might make sense to sell now into the market of high demand, multiple offers and sales well over asking price.