House related question. Which is best to do.?

Question

The house prices are very low these days... in Virginia

well. I have 2 houses. one is about 38k another is about 45k

i currently live in the 45k house.

1st choice - Sell Both houses right now and get a rent in somewhere near or live in apratment. Hold all the money sold from the houses in cash.

2nd choice- sell the 38k house to pay off the mortgage of the 45k house.

3rd choice- sell the 45k house and hold it in cash and live at the 38k house becuz 38k house mortgage is payed off.

Answer 1

I always believed that the best way to plan for retirement was to own 3 houses.  When prices go up enuf, sell off the 2 rentals. I did that. But i sold too early.  I should have waited.  I think that you should wait, too. Unless the problems associated with owning 2houses are weighing on you.  No use doing something that brings you no joy.

Answer 2

live in one the 380k rent the other,  Make sure you rent to folks who will take care of the house as if it is their own, you're still building equity. This way you can help pay that mortgage and put the money you would be paying towards mortgage in savings.  have you had an appraisal to determine the actual market value of your home?  Do that before you make your final decision.  Also remember that houses will always appreciate just not at the rates they have for the last 3-4 years.  Are you by chance living in PW county where all the immigration stuff is going on ?  if so it will likely take 18 months for the market to begin to recover from the stupidity of the local council.  they had owners paying mtgs paying taxes etc  and should've left it alone. evidently no did a study to check possibility of damage and payback time when they passed the law 10/07  note they rescinded the law early this year after damage had been done