To sell or not to sell that is the question in thisssellersmarket

[Evan Dobrowski]

As in most of the country the real estate in my area is going crazy!  When interest rates rise, prices have got to fall. Right now in my market area people are offering $50K - $100K over asking and waiving all contingencies. I live and invest in the Seattle-Tacoma area.  

Currently I live in a property I purchased to rehab while we use as our residence. This property also has a MIL we rent out as a house hack. I purchased this property in 2017 and my real estate agent is telling us the house has doubled in value and it might be a good idea to sell. My plan has always been to utilize the BRRR method and hold for the long term. But this house was built in the late 60's and I'm starting to think this crazy market might be a good time to sell. My understanding is that since I live in this property there are tax advantages to selling now rather than holding as a rental over the long term if the market is at a momentary peak. Obviously I understand that the property will increase in value over long time horizons. But if the market falls I'm thinking we may not see these prices for another 10 years.

I am wondering what do other BP members think?  Are you buying, selling, or holding in this market?  Where will the market go from here?  If you had a property that has doubled in such a short timeframe would you sell or hold?

Obviously a lot of factors come in to play here.  I will make sure to add we already have the new house we are moving to so it's just a matter of what to do with this one.  We could probably rent the property out with positive cash flow of $750 per month or sell and profit about $150K and roll that into the next property or pay off another rental.