Posted by Ronald * Starr(in No CA) on September 10, 2003 at 08:05:29:
" I consider you are one of the best on this site." Thank you. Flattery may get you somewhere with me. Actually, I am impressed with how many good responses one can get here and how few really poor ones. I sure wish this site had been available when I started investing. I’d be far ahead of where I am now if it had been.
About 7 pm yesterday I posted to some ongoing thread about this issue of quick sell/hold forever. I do a much more thorough analysis there.
I expect property values in CA generally to go up smartly over the next 20 years or so, based on the projected increase in population and building not keeping up with demand.
Better than sell in a while is to either exchange into other properties so there are no federal capital gains tax to pay. Or to refinance out money to buy something else. Given that very low interest rate on the first loan, probably a new second loan would be the way to go, should you refinance.
And congratulations riding up the automatic escalator to wealth: appreciation.
Good Investing*Ron Starr