I would sit tight and save some more.

The home was a rental property prior and had been sitting.

Nothing to get crazy about but no need to deal with tenants, property taxes, repairs, vacancies, etc. just sit back and collect.

That said, in the scenario you described, I’d either end up homeless and broke or starving to death, lol, while sitting on $275K of equity.

The thing is huge and just sucks to have it sitting empty outside of me hanging out in there with a couple beers and a TV on nice days. 

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

In a slow market homes sit and rot, they are on the MLS forever and the longer it sits, the lower the price goes to find the sweet spot for just the perfect buyer.

Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.

Have you taken the time to sit down and reflect on last year and how you did compared to the goals you set for yourself in 2024?

I’m predicting that people sitting on the sidelines due to rate volatility over the past year will realize that waiting is futile and will stop sitting on their hands.