Is the market changing. Is there a shift in the air or is it just the tremors we've been having lately here in Santa Cruz? They market is definitely changing, but maybe just changing in our mind because I haven't really seen anything. I've been trying to make a market update video all morning long, and my phone has not stopped buzzing, ringing and, and pinging, because the market is still really very strong. You have sellers who want to sell, you have buyers that want to buy. Now the interest rate is 5.75%. That is higher than January 2022. It was 3.5% or so in January and it just skyrocketed. Is that going to really change things? Well, we expect that it will, but we're just not seeing it. I'm hearing of less offers, but I haven't heard a whole lot…

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Should you sell now or rent your home out?

Keeping your home allows you continue to build equity as you pay down the mortgage with rental income. Plus, the market value of the home continues to increase over time. If the house is in good condition, and you have adequate cash reserves, renting could be a wise decision. As with both scenarios I advise you contact your financial, tax professional and attorney.

Renting can change your home from financial liability to a profitable asset. One formula to use for rent is 1% of a home’s value for monthly rent, or $6000 per month on a home worth $600,000. As a rental owner strike that, as a landlord, you will need to maintain cash on hand to cover maintenance costs and the times when the home is vacant. Most…

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