Newsflash: Good equity in house, what should I do?

Hi guys, Please help me formulate a strategy for the current situation I am in.Area: Northern Suburb of Denver, Colorado (Longmont). I purchased a 4500 square foot home in June 2015 with an FHA loan and downpayment assistance from Colorado Housing Authority. We purchased this home for 370,000.00.Since then, my wife and I (who are obsessed with DIY and HGTV) have transformed it into what we believe a model home looks like. Last November, we decided it was time to refiance to get rid of the PMI included with an FHA loan. We locked in a 3.25% 30 year fixed. Our home was also appraised during the time and it came back with an appraisal of 470,000.00Obviously our taxes increased which was a bummer but it was nice to see 100k in equity in a little less than 1.5 years. Skip to today, our home value – according to zillow and a few CMAs we had done privately, is now 516,000.00 .My question is this : My wife and I are trying to figure out how to best leverage this equity. Moving is not out of the question. Moving to another state such as Phoenix is also not out of the question. I feel like Denver is in this massive bubble and it can’t last much longer. What should we do? Id like to see some financial gain here. Any advice is welcome – thanks so much for reading.Edit: Forgot to mention that our loan has 359,000.00 left.



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