Sucks for workers that the days of a company keeping you on for 40 years with ever-increasing pay and then giving you a pension are gone. I guess our kids are going to have to start saving early and save a lot. And plan for the possibility of reduced income starting in their 40’s. I don’t know, seems to me, anyway.

I don’t know what price range your houses are in, and I’m not familiar with the Temecula market. But from what I’m seeing elsewhere, I would consider asking for the moon, especially if your houses are in a lower price range. I’ve seen houses go for way more than I would have thought possible. You might even just test the market, especially if your plan hinges on getting a very high price. Put ’em out there for something really high and see what happens.

The realtors on this board usually give pretty solid advice. And if they don’t like this plan, that should carry some weight. But if you find a listing agent and he tries to talk you out of listing really high, obviously you need to remember it’s better for him to list it at something it will definitely sell for rather than a “test the market” price.

[quote=desmond]Sell one, move into the other until that home becomes your official residence, then try to sell that one. Move to Austin and get your ass kicked daily by “rednecks” that drive trucks”, brilliant![/quote]

Not as many rednecks in Austin as in the rest of Texas. Probably only marginally more than in Temecula, for that matter. I’ve been to Austin many times. Fantastic city. Weather, not so great. Lots of thunderstorms, which is cool. But the summers are pretty brutal. Like Temecula but with humidity.

[quote=zk][quote=desmond]Sell one, move into the other until that home becomes your official residence, then try to sell that one. Move to Austin and get your ass kicked daily by “rednecks” that drive trucks”, brilliant![/quote]

Not as many rednecks in Austin as in the rest of Texas. Probably only marginally more than in Temecula, for that matter. I’ve been to Austin many times. Fantastic city. Weather, not so great. Lots of thunderstorms, which is cool. But the summers are pretty brutal. Like Temecula but with humidity.[/quote]

Thanks for the tip, although I sent my kids to college in Texas, Ft. Worth and Waco and now both live in Houston. I drive a truck, like Texas, own land there and will move there eventually, and I don’t consider anybody a “Redneck”. I guess you just missed my point on this one………….I am sure Paramount did not.

Don’t sell now. Prices are going up.
If I were you I’d try to time to next peak.

Buy in Vegas now is a good idea, if you are not overbid. Plan on offering at least $10,000 over list, even on a foreclosure.

Employment situation is a result of globalization.
We all need to learn to live with the new reality.

Were the last boom and the one before that phony or real? This is as real as it gets.

[quote=desmond]Sell one, move into the other until that home becomes your official residence, then try to sell that one. … [/quote]

I like desmond’s plan the best, paramount. Don’t worry about where to move away to right now. Just wait until your tenants’ lease is just about up and give them 30 days notice to vacate. Then spruce up that house a little and list it vacant.

If your tenants are on a month-to-month rental agreement, then give them a 30-day letter to vacate on May 1.

Don’t move your family and list your primary unless something really does happen with your job. In the meanwhile, try to save as much money as you can.

You’ll have the proceeds from the sale of your rental house in the bank to help you if you need it while you are getting your primary ready to list, listing it for sale and all the way through COE until your stuff is packed up.

If you leave the area for a distant job, I would just rent first in the new area before deciding to buy as you really won’t know at that time if you will like the new job, the new job will like you or if you will like the locale.

Don’t sell your primary and move if you haven’t yet lost your job, that is, unless you don’t mind moving back into your rental and can do so cheaply. Then my former suggestions (above) would be reversed. If you do it this way, you would then be stuck living in your old house if your job was spared and would have the proceeds from the sale of your primary in the bank.

I just remember posts from you that you didn’t really like the neighbors around your rental house when you were living there. Perhaps they have mostly all changed now … the former ones having been foreclosed upon, given keys for cash, or sold short.

Sometimes the best option is to do nothing.
Why incur all the transaction costs, including spending your own time, churning properties and moving across the country? And all on a feared economic scenario that may or may not materialize. You will make the realtors and movers happy, but at great cost and personal disruption.
And there is something contradictory about selling properties because they have gone up a lot and buying elsewhere in hopes those properties will also go up a lot. Rampant inflation in values, if that is in our future, will push up all areas, albeit at different rates.
I’d be wary of big life changes based on economic forecasts. I’ve been right as well as wrong many times in the past. Right now I don’t know if we are in for serious inflation (which I’ve been wrong in predicting), or deflation (look at the price of gold). I’d suggest you stay put, build your liquidity, and be prepared for any eventuality.