So, I own a lot in Surf City. I figure it’s time to build or sell.
My initial thoughts are that the market is very hot and these melt ups never last, and that there are always meltdowns. This is the “pro” for selling the lot outright.
My contrary thought is that while the costs of goods may go up and down, they generally head one way or the other. Will I ever have a head start (a lot worth 3 times what I paid for it) that I have now?
If I sold it, I would likely pay off my house, unless someone wanted to do some kind of exchange of collateral (since my impression is that the market is absurdly hot right now.)
Just looking for some thoughts from the group.