I would expect to hang on to it longer, perhaps (10) ten years.
Why not start working with a Realtor who can keep you informed about market changes? I have clients who own property in Los Angeles, but live out of state that I have been working with for over two years, now the market is starting to look exciting for them and they can make a profit on their purchases
Its very difficult to predict where the market will be in 5 years time, but a local realtor can give you a fair market analysis for your home in today's market. I'd be happy to help.
It's a great time to sell in North Hollywood right now, the inventory is low and there is a lot of demand.
Feel free to contact me anytime at (310) 717-1321 or JamieTian@RodeoRE.com. I would be happy to provide a free comparative market analysis of your current home price.
Rodeo Realty Inc
Whatever you decide I feel it's a good decision for you.
I wish you the best in your endeavors! Please feel free to contact me.
Re/Max Parkside Real Estate
(Recently featured on HGTV's House Hunters)