I recommend that anyone who either wants to take profits, or who still has a mortgage, Sells Now.
I am puzzled by the people who say renting is not advisable. I wrote a long post about the advantages of renting. I have 3 children, and my entire family loves our rental house. We live in a great neighborhood, they attend the same schools as before the move, the house is cozy and at 2100 sq ft big enough for us. We are painting this summer, and going 50/50 with the landlord on installing an A/C. We plan to be here 4-5 years.
I know this might make some people mad at me, but I’m used to that, so here it goes: women who prefer losing $200K-$500K equity just because they want to “own” rather than “rent” are fools. Usually it comes down to wanting to be able to paint. Go ahead, paint your rental. Geez…. Put in a garden. I just had some curtains made for my rental.
Anyway, it’s obvious to anyone with a slight knowledge of economics and commons sense (all excesses correct), that housing will revert to the mean.
The only reason to stay in a house in San Diego, would be if it’s paid off, and you cannot afford the rent, or you like having no rent/mortgage. Taking profits is always a great alternative.
