Dear Monica: I am being relocated to another state and don’t know whether to sell my home here. I may need to sell in order to buy in my new location but I worry that I won’t be able to afford to live here again if I want to move back. What would you advise? Mary E.
Dear Mary: If you think you will ever want to move back to the Bay Area, I would advise you not to sell your home now unless you have to. See how you like the place you are being transferred to as well as the job you will be doing there. If ultimately you decide you want to stay in the new location, then you can sell your Bay Area property knowing that it is a good decision for you.
The real estate market here is one of the strongest in the country and while it may not remain that way forever, it will stay strong as long as the economy here continues as it is. Too often homeowners sell when they leave the area and then cannot buy their former home back when they return because the price is too high.