Re: Evaluate my real estate situation (very long)
Man, that's a tough one.
It sounds like a great house in a sweet location. My buddy lived up there for a while and loved it. You are correct that they are building these shitboxes out in the burbs and they are unlimited. But everyone will feel the hit if it does happen--some more than others.
Points to think about:
-What kind of refi could you get right now?
-You say you could sell it in a year. Things seem to be heading down quickly--are you sure you can sell it for 285K in a year?
-What if you can only sell it for $250K--would you still sell in a year?
-At what price point will you hold on to the house while you are traveling.
-Is it required you rent the place out while on your trip?
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