All Forum Posts by: Albert Ng

In my opinion,  the Bay Area housing price won't jump up like the last couple of years (buyer maxed out their purchase power). It might even drop slightly (maybe around 10%) if the fed raise interest too fast, and cost of borrowing increase. The property value has been improving nicely for me, so I was thinking of selling it to lock in the profit (trying to time the market :D ). I decided against that. However, was surprised to heard so many landlord taking back their property to sell. 

You hit the nail on the head. I'm in a perfect position to sale (tenant damaged house, insurance claim, ... the whole nine yard, and insurance pay for me to remodel the house - long story, let's get coffee or lunch sometime, my treat, and I can share with you the whole experience). I was consider between rent & sell, and decided to rent instead of sell because I have no plan on what to do with the money after I cash it out. There is a strong rent market in San Jose, so it's nice. However, out of about 10 potential tenants that I talked to this week, 5 said their landlord want the house back to fix up & sale. That was kind of a bit alarming to me.

I would say short selling is the way to go. If you count the repair cost, he's still upside down on that house. 

We are looking for a house with big lot, or duplex, triplex ... in good school area in the South Bay. Any wholesaler in this area?

Put my house up for rent, and have so far 5 potential tenants telling me that their landlord is taking the house back to sale. Am I missing something? Is it a good idea to sell now for a nice capital gain?

The house's current market price is $680K, and rent is $3300 per month.

Thank you,

Who care what they say? Their opinion is none of your business!

Hello Daniel, from another new member from San Jose :)