Should I sell?

[jayne_IHB]

Hi all! I have lurked for awhile and so many people here seem so knowledgeable, I thought I'd seek some advice.



I have a 1700 sq ft. condo in Tustin Ranch. I owe about $450,000. Comps are listed at about $570,000. I want to move to a bigger house. Should I try to sell now and then rent? Or should I sit tight (possibly for years) until the nightmare is over?

 

[flmgrip_IHB]

yes

 

[optimusubprime_IHB]

i agree, yes

 

[Stuff It_IHB]

sell

 

[Trooper_IHB]

Price it 25K below the competition, and SELL. Now.

 

[flmgrip_IHB]

sell it to me for $150k less than listed

 

[lawyerliz_IHB]

Are you going to be borrowing more to buy that bigger house? If you are, I'd stay where I was til the dust settles.

 

[Trooper_IHB]

I didn't think I needed to clarify....but.....sell now and rent. Buy later.

 

[jayne_IHB]

Thanks for all the advice. I really appreciate it. I guess I'll be contacting a realtor to unload this thing and then rent for awhile.

 

[Nude_IHB]

<p>Rent it to an arsonist.</p>

<p> </p>

 

[flmgrip_IHB]

be careful to take any advise seriously from here or any other online chatroom... reasearch mulitple places, online, offline, friends etc

 

[Trooper_IHB]

Yes jayne...we are all nutters here. All the new media, internet articles about the housing bust, underwater friends....they're all nutters too.