If you get caught in a down market with a -$300 CF, you're basically SOL until the market rebounds, which could take a decade.

In Palm Beach County (large area take with grain of salt), while days on market has increased substantially since the start of the rate hikes, prices have rebounded from the lows in the beginning of the year pretty strong and we are close to seeing ATH in many submarkets within the county again.

In 2021, the # of houses sold was up about 85% YOY (the number fell sharply leading up to and during the pandemic in 2020 then rebounded last year).6.

Answer questions for new members who join and ask the question you pose here, tag agents/lenders/property managers in the area when they can add value to a discussion, and otherwise just help folks a few times per week, and see that rebound to your benefit as your network grows!

I like to work backwards and start with the goal in mind.If the goal is to build a portfolio of properties that build wealth over the long run, then keeping the property makes sense as the property value is very likely to rebound from any corrections in the short term. 

From what I gather, the odds are not good that the local economy will rebound any time soon. 

Pretty sure I found the development you weee taking about and at least personally there’s no way I’d spend 800k there, I’m of the belief that as dc loses population to the suburbs you are going to see areas crash and burn and other rebound for the last decade dc was hot so a rising tide lifted all boats, that’s over, there are areas I think have amazing opportunities right now and others I think are still over valued, the areas I see the most “value” in right are probably Brentwood, Michigan/North Michigan park, Riggs park, Woodridge, Takoma.

The housing that was formerly affordable was just a placeholder between a community decline and rebound.

I’m hoping my STR here will rebound as well as yours.

Prices are rebounding and have increased by 10% since January.Sales - List to Contract Days by MonthDemand is still strong and the times properties are on the market are declining. 45 days is average under normal conditions.