sd_resident, I am glad you posted this, you saved me from having to start a new topic. We are almost in identical situations. I bought my 3 bedroom house in north county in the early 2000’s with 20% down before the bubble got completely out of control. And yes, I acknowledge the timing is all luck, believe me I’m no real estate genius. Anyway, like you I’m in a good spot assuming a nightmare scenario (for owners) where the market drops another 50% I still can still sell with my head above water. My mortgage is less than 20% of my take home income, so I can put alot of money away, which is nice. With the recent drops though I have felt “the itch” to get into a bigger house as my family grows. But as I’ve learned from these great brains on Piggington the market still has a lot left to give for buyers, so try to resist the urge. But like you I am thinking “What about my current house?”, should I keep it and rent it out eventually, sell it before the market drops even more and rent, or do the standard sell/make contigent offer on new house, or stay put? The choices are overwhelming.
