[The Champ]

We just joined the group that has sold a home to take advantage of the current market.

We are going to build a new home that is planned to be be our "retirement" home next year. Our plan was to build and move into the new home in 2022, then worry about selling our current home so we didn't have to deal with showing the house while we were living in it.

We're in a rural sub development 25 miles SW of Rochester, MN, just 1 mile outside the village limits of a town of about 1100 people. It's a nice home, about 3600 sq ft finished, that we built in 2005 on 1.25 acres, 4 bedroom, 3 bath, oversize 26x26 attached garage with a 30x40 detached garage.

Back in May I was discussing with a friend that happens to be a real estate broker about our plans to build a new home in 2022. He asked me if we had thought about selling now and renting for a year. Kind of brushed him off, because of having to move twice.

A home in our sub development across the road from us sold in July for what I thought was a crazy number - a number that set the high point for the area. We talked with my friend and we decided to let him show the house without officially putting it on the market. Friday, while we were looking at lots to build on with our builder, I got the call from my friend that we would have an offer on our home on Saturday. Officially, we listed it yesterday afternoon, but only after we accepted the offer that now is the area record for a home (not farm) sale. Closing is set for November 1.

What we sold our home for isn't important. Real Estate values vary wildly from area to area. Our home, if located in Rochester, MN only 25 miles away, would have sold for $100,000 to 200,000 more. If the property was in CA, it would have sold for at least $1,000,000 more. If we lived another 10 - 20 miles further away from Rochester, we'd probably have received $50,000 less.

So, now we start looking for a place to rent and the lot search just when into high gear...