I told my wife we should sell now, rent somewhere for a year or two and let the market cool down and then buy our forever home. One of the issues is there’s no real rental inventory and the other is me and my wife aren’t really trying to move a bunch of times. But, I don’t know that our house will really be worth much more than it is now. However, I thought that about a rental condo I sold two years ago that they’re now selling for $30k over what I sold for. Crazy times were in again, hopefully not a precursor to 2008 fiasco.
Exactly!
Depending on where you live, now is a great time to sell.
In West Houston, my friend sold his house 2 months ago for almost double what he paid for it 7 years ago. And this is a very nice 4000 SF house with one of the best school districts in town.
If you can make some big money now, sell it! Or rent it out. My rental property north of Houston is making me real money now. I increased the rent from $1650 to $2450 and the new renter didn't even bat an eye. It's a small 2100 SF 3 bedroom in a nice quiet part of town, good schools.
Some of the major cities have insane markets right now. People selling houses at 50% profit that they purchased 2-3 years ago.