Real Estate in Financial District

2 Replies

My wife has a property in the Financial District in NYC, namely at William Beaver, and she is eager to sell. I am advising her to hold for a year or so for a probable value increase. Which in your opinion the better option?

Originally posted by @Salah Saade :

My wife has a property in the Financial District in NYC, namely at William Beaver, and she is eager to sell. I am advising her to hold for a year or so for a probable value increase. Which in your opinion the better option?

This really depends.. the specifics of the property such as: type of property, price range (current worth and price acquired at) and profit if sold today might help in getting some clarity. 

Some questions you might have to go through may be: Is there is a pressing need to sell or just a desire to cash in on profit? Is the plan to sell, get cash for an alternate investment that has a better return than what the property might offer in a year? Or perhaps just nervous of which direction the market might head in a year hence the need to sell today? Is there a fear that the profit might be eroded by waiting?

If the data from Zillow and the other real estate websites are correct (and their valuation/estimation could sometimes be way off), it does appear the values in the area is strong so there must be a reason for the intent to sell. 

If there are other investments channels that offer a better return then might have to think about the cost of deferring the sale for a year especially if you have a ready and capable buyer. If there aren't, consider the reinvestment risk before cashing in. Finding alternatives to reinvest and earn a better rate could also sometimes be costly.

The decision is however personal.

Kenneth:

Thanks for your answer. Very useful the zillow link you posted. We have now a better idea on what to ask for

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