May 1, 2008

MOVING TO CALIFORNIA

 We decided to toss it all in and move to California. That was five years ago. We moved to Los Angeles. Never did we think that we would be listed in a column under Los Angeles Bankruptcy. But that's exactly what happened. When we sold our house back in Chicago, we made a nice profit on it. We had been in it 13 years. Of course, we did have to pay capital gains on it, because we had lived in it more than 2 years. It was a nice little chunk of change we really had not counted on. We decided that we would use most of the cash to purchase in Los Angeles, because it would be more expensive. So we were able to find the smallest house in a good solid subdivision, and bought it. We made some improvements, but then the value of the real estate began to zoar. Suddenly it was worth almost 30 percent more than what we paid for it only a couple of years prior. We were amazed. We talked with friends back home, and their property values hadn't gone up like here on the West Coast. Because we had almost outgrown the little house, and we saw an opportunity, we put it up for sale. We had buyers lined up.

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