The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: y2kate who wrote (5208)	9/11/2002 3:00:21 AM
From: Elroy Jetson	Read Replies (1) of 306849

I bought my house in 1996 for $299,000. Now comps in my neighborhood are going for around $800,000. If you're married, you already have the $500,000 maximum profit you can claim tax free under our bizarre tax policy. Based on this alone it's time to move. If you're single, you already owe tax on $250k assuming you don't have cost additions added to your original purchase. Based on this you've waited too long to sell without carefully considering tax implications - either that or get married. If you're wealthy enough to laugh at any future tax and can easily afford your mortgage and property taxes then money is hardly a concern in what you do. Do whatever you like. If I sold, I would invest the proceeds in $100k FDIC insured savings accounts. The income should be slightly under 3%. My aim would be to have money available when real estate and stock prices are lower. Don't invest the money in something you don't fully understand. I don't see upside in real estate right at the moment. Potentially I see fairly significant downside.

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