California Homeowners
Try to Time the Market

Question: When is the best time to sell my property in Southern California amid the current real-estate "bubble"? I am thinking about selling my home in 2005, renting for a couple of years, then buying again. Am I on the right track?

-- Prithvi, Anaheim, Calif.

Question: I recently read that the median price of a single-family home in my area has increased by 56% in the past two years. What do you think will happen to the real-estate market in the next two years?

-- Ralph, Culver City, Calif.

Question: I have heard that the real-estate market goes down every eight to 10 years. Do think the next real-estate recession is coming soon?

-- Steve, San Jose, Calif.

All: We all know when the best time to sell is: at the top of the market. Unfortunately, no one knows when that will be. Most economists seem to suggest that barring an economic downturn larger than the one at hand, another terrorist attack or something else unforeseen, the current low interest rates and strong demand will keep the real-estate market in California -- and most other areas of the country -- on track for some time. As for it lasting until 2005, that is anyone's guess.

-- Mr. Irwin has more than 25 years' experience as a Los Angeles-area real-estate broker. He is the author of more than two dozen books about real estate and is recognized as one of the most knowledgeable writers in the real-estate field. Mr. Irwin's most recent book is "Tips and Traps When Renovating Your Home," (McGraw-Hill, 2000).

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