Lately it has been hard to downsize your Metro Detroit home because selling your Metro Detroit home would have lost you a lot of money. Most Metro Detroit homes have lost 30 to 50% of their value. So if a Metro Detroit home buyer sold their home and downsized their home they would lose money by buying a smaller home.
Let's say you own a 2400 square foot Farmington Hills home that was once worth $300,000. Now it's only worth $200,000. But now you want to downsize to a 1000 - 1200 square ft Farmington Hills condo. But you hated to lose all that money on your old Farmington Hills home.
Congress and President Obama have now given you a little gift of a $6500 tax credit if you have owned a primary residence 5 out of the last 8 years. $6500 just for moving. It's that a nice little gift. So even if you are downsizing it pays to move now.
So it may be a great time to move if you are:
- a empty nester with home way too large for you and your spouse
- a retiree that wants to move out of state
- a seller that wants to move closer to family
- a widower that needs to move from the memories
- or a homeowner that can't keep up with all the home maintenance
Your Farmington Hills home's value won't come back for years to come so now is a great time to move forward with life. So give me a call to plan your move and grab the $6500 our politicians are giving out.
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