Take your 700K and run. Rent for two years, then look around. If you’ve been reading on this site the overwhelming consensus is anyone buying today will regret it tomorrow. I believe most housing in LA that is currently priced under $1M will drop $100K this year and another $100 next year at a bare minimum. The optimum time to sell in LA County was 2-6 months ago, but it’s not too late. Don’t overprice, as it will sit, and you will lose more as each month goes by. 2007 and 2008 are going to be nasty years in real estate.
