Should I stay or sell?

Bought a 3 bed semi-d house in Stillorgan in Q1 '08 as a trade-up, which was in need of modernisation. Bought it about 20-25% below Summer '06 market peak price. Renovated it and like it. Mortgage is currently about 3/4 of the current market value I reckon. Of course value is falling like everywhere. Should I sell now and come back to market in 2 years so as not to further erode my equity ("profit")? Or should I stay, remembering that it's a house to live in rather than a pure investment and that I bought below peak, plus that to move now risks selling at near market bottom?

Stay were you are, iam in the building game hang on for an other year once the banks get there act together prices will pick up slowly an sales too.

hawkmar said:

Stay were you are, iam in the building game hang on for an other year once the banks get there act together prices will pick up slowly an sales too.

Click to expand...

Is that it now? It's all the banks fault and they need to get their act together, right? You guys in the building game instead have done a great job during the last 10 years, well done...


Cheers,

DbGus