Wednesday, October 29, 2014

Should I sell my house in Bay Area?

I have a house in Berkeley, CA and the rents and home prices have increased dramatically. I am wondering if I should sell my house as I see a short term correction in home prices. I owe $350k and according to Zillow it is worth nearly $800k. I am in my early 30's so I can wait and hang on to it and ride cycles. My mortgage is $2300 and I get $3000 and plan to raise the rent a little in April. I also am not sure about selling with tenants living there as I don't want to roust them out because I try to be nice. If I were to sell it I would need to unsettle them some to improve/fix things to make for the best sale anyway though.

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