Thanks for all the comments and advice so far. To answer some of the questions. Yes, I have another home to live in (in San Diego). As I said, I realize it’s a lucky problem to have. I’m in my late 40s.
The decision to have a property manager is probably a good one for me. I’m not particularly handy, and my job takes up a great deal of my time. Quite frankly, I’d rather play catch with my kids than change a light bulb on my own house. I really don’t want to deal with problems from renters. That might well be a point for selling, rather than renting.
I’m paying 8% to the property manager. Frankly, I thought that was a fair deal. Others were asking 10%.
We’re going the renting route right now, but could easily change. I’m getting nervous that it is not renting after being on the market for about 20 days, although things seem to be heating up now (we did a price reduction from 3400 to 3100). My basic research indicates that there is not as much demand for 3+ bedroom houses in the >$3000 range. There’s just a smaller segment of the population that needs that. And those folks that can afford >3000/month can entertain the ideas of owning something. That’s why I was floating the idea of selling and perhaps getting a couple of small houses/condos. Although knowing myself, I probably would not get around to the buying part…
Property taxes are about $4000/yr by the way.
Dave
