“My question to you is; if you feel prices are going to drop so much in the short term, why not sell now, earn some interest on your cash and buy on the next up upswing? Do you really like the properties, or are you just not interested in the headache involved in getting them off the market?”
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I won’t sell for a variety of reasons, including tax implications, fantastic and ever-increasing rental income (which may be equated to “interest” on my investments), the necessity of maintaining a diversified investment portfolio of stocks and real estate, and a continuing belief that SoCal coastal real estate is among the premier real estate nationwide and will in the long run be priced accordingly.
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“However, we are definitely *both* better off than those folks whom have over-extended themselves during the run-up”
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