Is this a good time to sell

[Marie-therese Tai]

So I have a  small mixed use property, I have been approached with an offer for purchase by a developer , I would stand to make a pretty good profit,, but it would mean that I would go from owning an office to having to rent elsewhere, my lease is going to be up at my current office in another year, and before this I was thinking of moving there. My accountant thinks the real estate market is softening, and I should take the money and use it to invest elsewhere if necessary, for what it's worth I will end up having to pay around 200K in capital gains and other taxes if I sell because it's not my primary residence. Any thoughts ?

[Dave G.]

@Marie-therese Tai My opinion is the answer to that question is now location-specific. If I was in a very liberal, less-than-business-friendly state like NY, IL or CA, I would sell. As an investor in AZ, I am enjoying a significant influx of job and population growth. I will also enjoy increased demand for RE from some amount of the 10,000 baby-boomers turning 65 every day now. I am not really in buy mode, but not selling either due to strong local economic indicators. 

For me, the components of the decision should be your local (NYC area) and state (NY) economy (look at hard data), the political environment (biz friendly or ?) and your personal factors. 

Good luck in your choice.

Dave