Hello Blind! With the ever increasing expectation of the real state bubble bursting in Bay Area, mortgage interest at a bargain rates and insane valuations on the stock market during recession, is it a good time to change a condo to a house? In detail, I live in a 2bd Condo with my family. And as the kid got 1.5 year old it is clear that living near “4” scored spanish school may not be the best option. Condo is worth $750k now, but still has liability of $300k. The target locations are: SF, PA, Albany or Moraga. The deadline for a move is 2.5 years (Kindergarten time is approaching fast). Questions: 1) sell condo and buy house or keep condo and rent in new location? 2) is SFUSD as crazy as it is depicted? Say, PA has a lottery as well but a guarantted place too. Moraga is just a guaranteed spot. Which one of those targets would you prefer? 3) is it better to chain sell and buy or keep the transactions separate but get hit by worse downpayment and/or temporary rent? TC: $350k YoE: 6 NW (including real estate): $1MM
Sell your condo and switch to SFH. Checkout the insane number of new constructions in the Bay Area.
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Sell condo