Now the one downside to selling your home, even at a pretty good profit is that you are going to have to buy another. When I sold my house, it was a sellers market and I took advantage of it, but I moved to Baton Rouge to take a better job and needed to buy a house there. As luck would have it the week I sold my house in New Mexico, Hurricane Katrina hit MS and LA. Baton Rouge was spared most of the destruction, but the population of Baton Rouge doubled overnight and housing prices hit the roof. Houses that weren't selling at 130K the week before sold for 180K after the hurricane. I ended up waiting about 6 months for the housing market to adjust and finally bought a nice 3 bedroom house with about 1500 square feet in a nice neighborhood about 10 minutes away from both me and my wifes places of work. We paid 150k for it, but it is in immaculate shape with tiled kitchen and baths, hardwood floors in the living areas and hall, and Berber carpet in the bedrooms. So far, I am pleased with it.
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