As an active REALTOR® in the Hemet San Jacinto, Ca real estate marketplace, I am repeatedly asked specific questions about today's real estate market - especially in today's economy. In an effort to provide more information to my community, I am publishing this Top 5 in Real Estate Social Networking Systemsm "e-Article," in which I provide useful real estate information to my real estate networks. If you find the enclosed information beneficial to your family and friends, I encourage you to forward it to your "social network" as well.
Moving Up in a Down Market - What the Media Isn't Telling You about Real Estate
We've all heard of the vast fortunes made during the Great Depression of the 1930s, but what about the opportunities available in today's Great Real Estate Recession? Are you going to make the most of them?
Those who believe that real estate is a tide that moves all boats equally are just plain wrong. The fact is, we may very well be in the single greatest move-up real estate market in decades! Today's market represents a rare opportunity for some to move up to their dream home at virtually unprecedented prices. Here is what most in the media, pessimists and those non-strategic about real estate are not telling you:
· Prices of higher-priced homes have (generally) declined more, as measured in dollars and/or percentage of price, than have prices of lower-priced homes.
· Vacation properties have also changed based upon their own local economics.
· If the price of your home has moved down less than the price of your ideal home, this may be the time to make your move.
Here are some of the often-overlooked questions you need to answer before considering your move-up:
1. What price could my home bring if put on the market today?
2. What is the price of my ideal home in today's market?
3. What will the difference in monthly costs be should I decide to move up?
4. What will my net costs be after tax?
5. What is the potential for immediate lifestyle enhancement and for long-term financial gain if I move up?
The answers to these questions are vital to making a more fully informed decision about the opportunities present in today's market. As a Top 5 in Real Estate member, I can help you find these answers. I also encourage you to discuss any changes in your real estate holdings with your attorney, financial planner and accountant.
If you have longed to move to another community, enjoy a house at the shore or create income through rental property, now might be your best chance to do so. If you or any of your family, friends or neighbors need help monitoring the market, I can help. Simply forward this e-mail to them. If you would like to find your own real estate opportunity, e-mail me and let's get started.
Remember, some of the greatest fortunes were made through real estate purchased during the Great Depression. Your ship may have just come in!
Comments(9)