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What’s Preventing You from Selling Your Loft?

By Mike in Selling Tips with 0 Comments

As the owner of a loft in San Diego, you are currently in a great position to list your property and make the most out of current conditions in the real estate market. If you feel hesitant to list your property now, you are not alone. Many homeowners tend to feel a bit of apprehension when faced with a seller’s market such as the one experienced in San Diego since 2015. One of the concerns associated with this hesitation is related to market timing, a strategy that almost never works out as intended.

You should only list your loft when you are ready to do so. To help you decide if the time is now, consider the following factors.

Timing the Market Is a Risky Proposition

Every homeowner is a prospective property investor, but this does not mean you should treat your loft as a stock options contract. Market timers sit and watch a seller’s market heat up to the point of inflation. When they finally believe the time has arrived to list their properties, the market often shifts in the opposite direction. You can’t treat the housing market like tech stocks on the NASDAQ. It is better to listen to the advice of trusted 92101 real estate agents.

Selling Real Estate Can Be Complicated

The “For Sale by Owner” (FSBO) strategy is not conducive to selling lofts. For this reason, you should allow real estate professionals, particularly those who specialize in lofts in 92101, to handle your listing. If you want to sell your loft quickly and at an advantageous price, you should not take the FSBO route.

Urban Migration Is Currently Popular

At the height of the American housing bubble before 2008, prospective homebuyers moved to the suburbs and exurbs in large numbers. At that time, economic conditions created a trend whereby families moved into gated communities away from urban centers. The idea was to live in large single-family homes without having to worry about the cost of maintenance and commuting. Once the global financial crisis set in, many families moved away from the suburbs and back into urban centers such as downtown San Diego. They were in search of jobs, convenience, and very short commutes. While this trend has somewhat reversed in other parts of the country, this is simply not the case in San Diego. Millennial homebuyers are not interested in long commutes or backyard swimming pools. They are much more attuned to condominium towers and centrally located lofts because these properties allow them to walk to shops, bars, restaurants, parks, and cultural districts.

Equity in a Loft Is Usually Based on the Neighborhood

Some homeowners in San Diego feel they may not get all the equity they deserve, but this mostly applies to single-family residences that have gone through extensive remodeling. As a loft owner, you do not have to worry about this as much because most of the equity is reflected by the neighborhood. Loft buyers pay more attention to the potential for remodeling than to the remodeling that has already been completed.

From East Village to Gaslamp Quarter, lofts for sale downtown are a hot commodity. If you’re ready to sell your loft, or if you’re looking for a new loft, get in touch with the reliable real estate agents at 92101 Urban Living. Give us a call today at 619-649-0368. ')}