Should I sell my home to get out of housing market?

Ok I bought a new home in June for 196k and have put in a little. I could probably sell it for around 215k and with fees I will about break even and get the money I put into it out. My question is in your opinion should I sell if I am looking at an investment standpoint. I don't really like the home and its too big for me so I would rather rent. I am not worried about the tax benefits because I am currently not working. In your opinion do you think I should get out now before it gets worse. The home is in north idaho.

thanks

I think you're being unrealistic about the housing market. The time to get out of the market was 1 to 2 years ago depending upon which part of the country you stand. Though the Northwest has been in denial, this holds true there as well (except for some small pockets in inner Seattle). Do not fool yourself by looking at the asking prices. You need to look at the prices the homes closed for. In a market like now, any smart buyer knows they offer less than asking. With inventories high, buyers are in control.

Since you're in the market, and purchased at near peak prices, you'll need to stay put for 7 to 10 years to ride out the bottoming of the market and the subsequent rebirth. If this isn't desirable, then sell the home at a loss.

If you are currently not working or are anticipating problems paying your mortgage in the future then I'd recommend selling. If you are talking about a place like Sandpoint, then I think you should always be able to sell it. Keep in mind if you are renting then you won't be building up equity in a house...but it depends on your situation. Renting is alot better than being stuck in a house that you can't sell or afford or don't like. Good luck

A home you buy for your own personal residence is not really an investment decision. It is a housing decision. One would not lable one's own home as an investment property. So in this instance you should not be trying to base your decision in terms of investment. Your real motivation here is not the investment, it is (1) the home is too big for you, (2) you really don't like it, and (3) you'd rather rent.

Based on your motivations, forget about investment, put the house up for sale and get out. You will not be happy there.

go do what u want... its ur house