Rent is probably 2200/2300, something like that. Our neighbor is renting for 2300, in a slightly smaller house – but the lease started about 8 months ago so I’m factoring that rents have likely decreased.

UCGal – agreed, I’m not sure when/if it’s coming back… I ran the numbers and since they’re covering Realtor commission, it makes it even longer before we can “break even” in any sense of the term.

With renting, it seems to make sense if you have a small-ish house, because if somebody trashes it you can rip up carpet and repaint. You can’t just repaint and carpet a 3500 sq foot house in a weekend…

So I think you’re all validating what I was thinking, so far – that I should cut my losses and run. It hurts, but I wanted to see if someone was going to tell me how they saw a bounce in the valley’s future, etc, etc, and if I just hung on one year we’d have some mitigation of the loss… it was a nice pipe dream 😉