I was referred to Dawna by a mutual friend when I started looking for my dream retirement beach house in Cayucos. Our journey together took three years with lots of looking and discussions to finally find me the perfect house. I can't thank Dawna and her amazing Executive Assistant Jodi for all of their patience, helpfulness and hard work on my quest to find the perfect home. Both Dawna and Jodi made me feel like they had all of the time in the world for me when I called with questions or concerns. Dawna is always cheerful and such a pleasure to work with. She is very responsive and extremely knowledgeable about the central coast. I highly recommend Davies Company Real Estate for all of your real estate needs. I wouldn't hesitate to use Dawna again and I did.... I used Dawna to sell my Paso Robles home after I purchased my new home. I once again found both Dawna and Jodi to be extremely professional and knowledgeable about the market. Dawna did a wonderful job of marketing my house and went above and beyond until it sold.
1. Evaluate your desire/need to own this property 1, 5, and 10 years from now. If there are more benefits to keeping the property (income, tax benefits, etc.), do not plan to sell. Perhaps there are changes to make to rents/repairs/tenants that will make it work for you for longer.
2. Talk to knowledgeable real estate broker about market value, closing costs, possible net proceeds from sale, and market timing. More planning will make for better decisions and less drastic decisions.
3. Talk to your CPA and/or tax advisor about the tax consequences of a sale. Estimate about 8% for transaction costs as a seller. You will need a rough estimate of possible sale price, your purchase price, and depreciation amount, if any.
4. Look up your property value on websites: Zillow, Trulia, etc. Look for both value estimates and rent estimates. Note how much information is available online publically about your property. Be aware that these valuations can vary as much as 20% either way from actual market value. This will help you see what information buyers are seeing about your property.
5. Pay attention to how you feel when you drive by your property. If you would rather not be responsible for it, consider selling.