"Thanks for the great job, Suzy. We really enjoyed working with you and will definitely refer you to anyone we know looking to buy or sell. We really appreciate your hard work and cooperativeness. You did a great job at marketing our house. Thank you so much for getting it sold!" Lindsey Taylor, home seller
Upgrading in our current economy?
OK, so the market isn't turning over as rapid as it has been in the past!
Big deal!
Let's take a look at the bigger picture!
We have lots of buyer's inventory. The interest rate is still hovering in the lowest range it has been for the last 20 years or so (somewhere between 5-6% interest rate for a 30 year mortgage). Buyers quit waiting for it to be a better time to buy! It is here!
You've got a line of every type and shape of house on the market. Sellers are very motivated to get their homes sold so go get qualified for a home loan, start looking, and make an offer.
If you have a smaller house to sell and are trying to get into bigger one, this would be the best time to go for it. You still might take a little "hit" on your sale but you will "gain" it back on the house you are buying at a lower amount than the market of the past few years. Currently you have the opportunity to purchase a home at a price that is adjusting to a lower market price and secure a loan at a low interest rate. That is savings in both the short and long term. Win-Win!
Don't expect to get unrealistic savings though. Yes there may be a handful of diamonds out there - but there are also a lot of other gems too. There are short-sales, foreclosures and people looking to downsize. Talk to an agent and they can go over what the market is currently doing and what is involved with the many types of homes on the market. It might be perfect timing for you to make that move up!
Houses are a commodity and market always swings back to normal. It is simple supply and demand. Also remember that the national media is focused on certain markets. We all see negative news on the subprime lending and new home starts and such. All markets are different from each other.
For instance, look at done particularly in Texas by the Texas A & M University real estate group, which shows we are still gaining at least somewhere between 2.5-5% appreciation a year (even with the market being a little slower than usual.) So why are you waiting to "Upsize" My House?
Call me to take a look at what options you might have for your "Upsize"!
How to Price Your House to SELL!