The good news is that if your home was ever worth 1.1 to 1.2M it is worth alot more than 875K. Of course the collary is that it might not have been worth that much. Unless your 3000 sq ft home is one of the the homes with tiny yards that overlooks RSF Rd. it is probably worth quite a bit more than 875K.
If you want to sell I’d sit tight for at least a few months. Every Spring relo buyers swarm LCV because of all it offers and you will make out better between March and May than you would now. IMHO, it is at least 2 years before any major depreciation could befall LCV. There just arent alot of subprime loans floating around there and my guess is that the typical buyer there in the last couple years hada HH income of at least 200K or had 150K+ incoem and put down alot of money. Until we see resets on 5/1 arm’s for the 04 to 06 buyers there is unlikely to be real pain there. I’d expect some small depreciation the next couple years but if rates stay low hom3es in that general area and price range should do OK.
The real question is what does your life dictate? I have tons of friends in LCV and most love it there. If you are or are planning to raise a family there arent many better places around SD to do it. If you are looking to time the market, that ship has mostly likely sailed already.
