Hi everyone,
We moved to Irvine last year and rented our previous house at South Orange County. Now we need to make decision whether to continue renting it out or to sell it, and we'd like to hear your opinion.
We bought the house at a high price (before the bubble) , so we won't be making profit after the remodeling and brokers' fee if we sell now. With the high price tag in Irvine and FCBs driving more people looking into surrounding cities in south county, we were told to hold it if we don't have to sell it now. But now summer is coming, the stock is at all time high and the interest rate is inching up, should we sell it now?
Btw, we won't be making money if we keep renting it out either
, after the mortgage and hoa, etc. The only difference btw Sell it Now and Renting it out for a couple of more years would be the hopeful property appreciation. What would you suggest?
Thanks much!
We moved to Irvine last year and rented our previous house at South Orange County. Now we need to make decision whether to continue renting it out or to sell it, and we'd like to hear your opinion.
We bought the house at a high price (before the bubble) , so we won't be making profit after the remodeling and brokers' fee if we sell now. With the high price tag in Irvine and FCBs driving more people looking into surrounding cities in south county, we were told to hold it if we don't have to sell it now. But now summer is coming, the stock is at all time high and the interest rate is inching up, should we sell it now?
Btw, we won't be making money if we keep renting it out either

Thanks much!