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Author: AfoolwondersNot Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127676  
Subject: To sell or not to sell... Date: 1/31/2013 4:45 PM
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...that is my question.
Hello, I'm looking for additional information to ponder concerning whether this is a good time to sell my house. In the SF Bay Area there had been a 30% run up in real estate in the last year (specifically 26% in Sonoma county where my house is located). No ones seems to know exactly why this is.

I have a fixer upper ( block and pier foundation needs repair or replacing for starters) The foundation is stable and could probably last many years and survive a sever earthquake but a potential buyer may want to repair or replace it. The lot is 10 times the size of the house in a very desirable neighborhood. My agent told me a year ago that we could put it up at 160K as a fixer or possibly 210K in hopes someone would buy the house to live in as is. At this point she believes the home should be listed at 225k and would be bid up from there and snapped up quickly by a flipper. She is very honest and ethical and I trust her. The inventory in my city is very low and there are quite a few people looking for houses to flip. If I had the capital I would fix it up myself but I don't.

I own the house free and clear. I don't have the temperament to rent ( been there done that). I don’t want to trust it to a rental agency for a lot of reasons ( been there done that too).

My main question is does anyone have a good reason to believe real estate prices, in this area, or in general in the US, will continue to go up at a clip higher than inflation, or better, for the next 5-20 years?

I'm 51 and single. The money I make from my business barely pays the bills and that could change for the worst. Almost ALL of my assets (with very little savings) are tied up in this property. My business has suffered severely for quite some time and barely pays the bills. This could change for the worst. The business I run is one of the first to go in a bad economy.

I don't really like this city although I do like Sonoma county. I would rather be in the east bay for various reasons I shall leave unnamed. If the house sells I would have various options. I have a girlfriend in Italy I could stay with and see where that relationship leads. My sister has land in the southwest she would let me put an airstream on, rent a room in the east bay and so on.

If I have left out anything important let me know and I will address it if I can.

If anyone can suggest another board to post this on please let me know.

Thanks.
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