Sell Now. Market is turning, and you can expect to get about 10% less than last summer’s prices.
Read the 2 articles at the top of the home page.
Rents are pretty good. My friend is renting her Poway house out at $2500/mo, and she has 3 calls/week. But her sign is still up. She moved to Phoenix.
I rent an attached home, 2200 sq ft, for $2200/month. This seems to be on the low end. I think this size house could get $2300.
If you hang on, be prepared to hang on for 15 – 20 years, before it could be that long before we get back to today’s prices. It may take 7-10 years for bottom, which will bring us to 40-50% off today’s prices. Then the prices will go back up.
Sell now, invest the money in 5.5% CDs, and buy back 2 houses for the same money in 2015.
I sold my house in December 2005, and I missed the peak price.
Don’t take my word for it. This is a big decision. Read the stories of homes selling now for 2004 prices, the Bubble Bloggers who discuss the economy, and specific housing sales, and decide for yourself. Then, for more questions, please ask.
