I’m going to agree with Flu. If you are thinking of using the money to buy a house, do NOT put it in the stock market. There is just too much risk in that way.
Instead I would put it in FDIC insured accounts. You won’t get squat interest, but you won’t loose your principle.
If I were you, I’d take the attitude that you are in the driver’s seat. You put your money in FDIC insured accounts, start looking in carmel valley and pay close attention to what is going on. In my opinion, the carmel valley market is unlikely to change wildly one way or the other in the next couple of years. My guess would be a slow decline, but only a couple percent per year. Since you are looking to buy a place to live in for a number of years, then you should take your time, look at lots of houses, and only buy the one you really like. You might find that soon, or it might be a year or two before you find the one you like at the price you can afford. But if you have good credit, and some cash for a down payment, you are in the driver’s seat. Don’t let someone push you into doing anything sudden and definitely don’t put you money in anything that is not a guaranteed safe bet.
