A neighbor of mine here in L.A. just sold her house, bought about a year ago for $650K, for $780K. She plans to move to northern California and rent for a while- citing her concerns about the over-inflated housing market. (I didn't ask her if she reads this thread...<g>) She's a lawyer, single, around 40.
I bought my house in 1996 for $299,000. Now comps in my neighborhood are going for around $800,000. Based on my misadventures in stocks over the last few years, I'm feeling like I should take my gain and get out, but the practical problems posed by selling the house, moving, finding a suitable place to rent, are daunting. And I really like where I live. I'm curious- is anyone here actually selling their house primarily to pocket a gain? The majority of people I know, while sort of nervously tittering about high valuations, simply don't want to sell and uproot their families unless they're trading UP or relocating to a different city. I guess I'm in the same boat, but every new
uptick in prices sends me into a new round of soul-searching.
An open question to the thread: if you were in my shoes, would you be selling now? If so, how would you invest the proceeds over the next couple of years? |
