As stated in the introduction, this is also a great time to sell–if you are a seller. If you are a long-term owner, there are very few options for a better real-estate investment. Nevertheless, sometimes you must sell, as in the case of retirement, partnership issues, estate planning, cash needs or a competitive situation that makes long-term ownership unattractive. If you fall into one of these categories, now is a great time to sell for the same reasons it is a great time to buy: interest rates are low and money is generally available-allowing buyers the ability to pay a reasonable price and close quickly. The general optimism in the market also means that there will be more buyers for your property, ensuring a better chance to get your property sold on favorable terms. Although the time is right for selling, a note of caution to sellers is appropriate. The buyers today are generally very sophisticated (many are already self-storage owners). So, don’t think that a good market will allow you to achieve above-market prices. The “Greater Fool” theory of pricing simply does not work. Instead, it always seems that in looking for the greater fool, a seller almost always passes up a deal that should have been made in retrospect.

As stated in the introduction, this is also a great time to sell–if you are a seller. If you are a long-term owner, there are very few options for a better real-estate investment. Nevertheless, sometimes you must sell, as in the case of retirement, partnership issues, estate planning, cash needs or a competitive situation that makes long-term ownership unattractive. If you fall into one of these categories, now is a great time to sell for the same reasons it is a great time to buy: interest rates are low and money is generally available allowing buyers the ability to pay a reasonable price and close quickly. The general optimism in the market also means that there will be more buyers for your property, ensuring a better chance to get your property sold on favorable terms. Although the time is right for selling, a note of caution to sellers is appropriate. The buyers today are generally very sophisticated (many are already self-storage owners). So, don’t think that a good market will allow you to achieve above-market prices. The “Greater Fool” theory of pricing simply does not work. Instead, it always seems that in looking for the greater fool, a seller almost always passes up a deal that should have been made in retrospect.