patrick.net

Linda, it would be helpful if you post this in the latest thread. Most people here do not check older threads.

I cannot give financial advice. However, let's look at some numbers:

You owe 300K with a 5.25% mortgage, your monthly interest is only around $1300. You have also locked-in a low property tax rate, thanks to Prop 13. Can you rent a comparable home that costs less than your current total housing expenses?

I would seriously try to look past the equity gain and stay in the house. However, it is a good idea to consult a financial professional before any decision.

Also, do not forget that commission alone is 6% of 700K, which is 42K.

It also really depends on what you are going to do with the 350K - 400K proceeds.

San Francisco’s Housing Market Is Cooling Faster Than Rest of the Region
Written by Kevin Truong
Published Oct. 13, 2022

As home prices across the Bay Area continue to fall from the peaks seen a few months ago, San Francisco’s real estate market has been hit harder than most.

Although median home prices in the Bay Area writ large ticked down in the third quarter, San Francisco saw the single steepest decline of any county at 9%, according to a report from real estate agency Compass. That compared with a 1-2% decline over the same period for the entire region, according to Patrick Carlisle, the Bay Area chief market analyst for Compass.