Wow… go to work for a bit and got many more responses than I would have expected. Thanks to all; collectively you seem about as split as I am internally.
Surely I’ll leave some out, but here’s more to the story since it seems germane. House is just outside Rancho del Oro; near the park, big lot (by Cal standards at least), Vista schools, no HOA or MR. Pretty well appointed but have not done a major overhaul. We refi’d once several years ago, took out just enough to pay off the original down so we owe just under 200. Have depreciated it as a rental and have not lived in it for 2 of the last 5 so expect to pay capital gains on a bunch of it. All told, my rough guess is that I’d walk with something approaching 200k at closing.
Don’t “need” the money now; we locked into a 3 year lease on a great place in Tampa (talk about a diving RE market!). Thought is to sell now presuming prices are, at best, staying level and invest the proceeds conservatively until we are ready to buy again… presumably that’d be in Cal when we return but I can’t guarantee that will be my next duty station (they call them “orders” vice “invitations” for a reason!).
Have had good luck with renters and don’t think that’d change. On the advice of my prop mgr we’ve kept the rent reasonable so we’ve always had a good crop to pick from when its been empty. But, at some point we’ll need to sell if I want to buy that one last long-term home in SoCal; the one I’d anticipate buying and then “retire” (i.e. get a civilian job) in place.
Okay.. Again, THANKS to all for the considered advice. Sure is a lot to think about!
