Time for investors to sell?
Jim Keene, who co-authored real estate investing book "Retire on the House, Using Real Estate To Secure Your Retirement," suggests that now is the time for investors to sell excess investment property.
Keene remains bullish on real estate investments at the lower end of the cost spectrum and less confident about price appreciation for high-end product. His confidence level is lower for property located along both coasts:
Playing the housing boom [Market Watch]
The more volatile markets include both coasts, Keene said, from Florida to
Boston, and San Francisco to Los Angeles and San Diego.
"If you're in those markets and you have multiple homes, sell some of the excess homes. You don't need the risk particularly and the outlook is not as good," he said.
"You have costs to carry the home, and so you're relying on appreciation for your
return. That's going to moderate, at best, going forward, if not, in some
specific situations, go down a little bit," he said.