To Sell or not to Sell?

That is the question for many homeowners in California. While many people have chosen to leave the stage due to the cost of living, others are holding tight believing that their investment, particularly in beach front properties, still offers hope. Not only could the value improve, but there’s ways the option of retiring to the Golden State for those proverbial Golden Years.

If you visit California, there’s no question that housing away from the ocean is suffering terribly in the current market. People with ocean real estate, however, aren’t seeing the hammer fall. Yes, there might be some compromises since it’s currently a buyer’s market, but generally speaking the waves and sand seem to cast a spell on many people, and also insure value in a home.

Just this week, the median home price in Southern California went up over 22 percent. That's the fastest rate increase people have seen in over five years. There’s a good reason for this. There are state incentives available right now. And where were most of the homes selling? You guessed it – the beach. The second area of sales were in markets like San Diego with upscale properties.

Home owner credits in CA started on May 1. A buyer can get state tax credit if they’re buying for the first time for up to $10,000 spread out over three years. That’s a lot of umbrella drinks and beach side barbecues!

So if you currently own a home on the water in California, don’t be too quick to jump on the sales band wagon. You have a treasure there. If you don’t own a waterfront property – what are you waiting for? The timing couldn’t be better.