Sell Foster-Powell Neighborhood Portland, OR house or hold it

5 Replies

Hi All,

We own a house in foster-Powell neighborhood of SE Portland Oregon since 2008 and this was our primary residence till 2016. In April 2016, we bought another house and started renting the SE PDX. Managing this rental so far has been easy and it rents fast.

Now the SE PDX market seems to be growing at a slower rate than it was couple of years ago and if we don't sell before next year April, I would have to pay capital gain taxes.

So my question is - Should I sell this house now and avoid paying capital gain taxes and re-invest the proceeds back when the market hits a downturn or hold on it this house for the long term?

Any advise on this would be highly appreciated.

Updated almost 3 years ago

The house value today (June 2018) has appreciated by 65-70% as compared to when we bought the house in 2008.

I went through this same question about a year ago with my condo in St. John’s. I figured I would pay 20% in capital gains tax if I waited to sell. I looked in my crystal ball to see when I thought that “break even” point with the tax would be and if I was comfortable with that. I ended up keeping mine but everyone is different.

Originally posted by @Neal Collins :

Sunny Hande Great question. Likely appreciation vs free money from IRS. What would your sale price look like compared to what you bought it for?

 OH no another gambler  and has to live with massive appreciation on the west coast  :)