8. July 2011 20:58
Are you ready to trade up for a better home? Many current home-owners are strongly considering the possibility of a move up during this current real estate market, as a slow market is one of the best times to buy property.
Did you know that if you are trading up, you are better off moving now than waiting for a market to recover.
That is a fact. Let me show you why!
HIGHER PRICE EXAMPLE 1:
1) Your home is worth now $2M or 20% less than 2 years ago. (say it was circa $2.5M before)= $500,000 less.
2) The one you want to buy is now $3M or 20% less than 2 years ago (say it was $3.75M before)= $750,000 less
3) The gap was $3.75M less $2.5M which is $1.25M
4) The gap is now $3M less $2M which is $1M
You are better off in this example by $250,000 selling in a down market if trading up. (20% of the difference).
LOWER PRICE EXAMPLE 2:
1) Your home is worth now $1M or 10% less than 1 year ago. (say it was circa $1.1M before)= $100,000 less.
2) The one you want to buy is now $1.5M or 10% less than 1 year ago (say it was $1.65M before)= $150,000 less
3) The gap was $1,650,000 less $1,100,000M which is $550,000.
4) The gap is now $1,500,000 less $1,000,000 which is $500,000.
You are better off in this example by $50,000 selling in a down market if trading up. (10% of the difference).
In fact, with reduced real estate prices and an increase in listing stock you will not only find great deals that are too good to pass up, but with so many properties to select from, you are sure to find exactly what you are dreaming of.
Now is the time to move up in the real estate market! Don't let these bargain prices pass you by! Should you be looking for a move, now or in the future, I look forward to the opportunity to help you move up from your current home.