Home Selling in Bakersfield>Question Details

Concerned in…, Home Seller in Bakersfield, CA

I need to relocate to the Sacramento area, but currenly own a home in Bakersfield, where it is saturated with

Asked by Concerned in Bakersfield, Bakersfield, CA Tue Apr 29, 2008

foreclosures. I have approx. $80K in equity and live in a great neighborhood with great schools (cute little cozy small 5 yrs old house, 3/2, approx 1300 sqft). Should I rent it out for several years and ride out the storm, or sell, since I don't have any rainy day funds. I plan to rent when I relocate. Thank you.

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It really depends on what you want. Would you like to see money from the sale of your home in the future? If so, ride out the market and then sale. Or if you feel the neighborhood that your home is in may decline in the future, maybe you should consider selling now and wash your hands of it. If you truly need funds now for the move, then go for it, try selling now. I see many people taking advantage of the decline in home prices for investment purposes or first time home buyers. If you also need help with relocation assistance, my company has a relocation department.
Hope this info can give you a little insight on your delimma.
0 votes Thank Flag Link Tue Apr 29, 2008
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