Back in August 2004 you sold your condo and moved into a rental as mentioned in this thread:
http://forums.pelicanparts.com/showthread.php?threadid=174466&perpage=20&highlight=sell%20cali&pagenumber=3
Everyone talks about doing it, but you're the only person I know of with the guts who actually did it! Just wondering if 14 months later you regret cashing out and renting. What are condos in your old neighborhood selling for now? I don't know how the coastal market is, but here in smog central (Riverside area), housing prices continue to boom.
I'm about to make the leap to sell and rent back. I bought a 3br 1500 sq. ft. condo exactly 2 years ago for $145K (a real bargain even then), and they are now selling for $300K. I do have a 5.1% 30-year loan...that is hard to give up.
An "investor" I know will buy my place for $299K and sign a lease with me for 1 year for a reasonable market rent. He says "I'll make 20% at least in one year!" Somehow I doubt it.
$150K in tax free cash is hard to pass up, plus I have another $50K in equity. I really want a house in about a year and hope to pick up a foreclosure which should be in good supply by then. $300K for a crappy condo choking in smog is just insane.