13SECSS
Club Sponsor
The best thing to do is sell high and rent until the market corrects. If I didn't have 10 cars I'd sell my place and pocket the cash.
Rentals are actually harder to find right now, then a for sale property. A close friend of mine who has 800 scores, no kids, no pets and flawless credit with over seven figures in the bank, has been turned down six times on a rental home because he won't agree to sign a two year or longer lease. Rental prices are up 50% from where they were this time two years ago. It's absolutely asinine.
To give you an idea. There are homes in my sub, actually only two of them that are up for lease. It would cost you between 1800 and 2100 a month to buy the property with a minimal down. There's one lease in my subdivision that's up for 3500 a month and the mortgage payment would be roughly 2000 a month. People with rentals think they have they have gold.