This is an ideal time to UPGRADE to a nicer/larger home, as long as you stay in the same market or move to an area with better deals in real estate.

For example, let's just say that you are going to stay in the same area. Let's assume that your dream home has all of a sudden dropped 20% in value and you are very concerned. Your stomach tightens, you start praying more often and have an extra glass of wine at night.

Your home that you paid $300,000 for is currently worth about $240,000. Ouch! Where will that difference come from, and oh my gosh, what if the world ends tomorrow? Don't panic too much. This happens on a regular basis and real estate has always rebounded. Yep, always!

So here's an idea for you. Reverse your thoughts and think that maybe it's a good time to SELL! What! Sell? I'd lose all my equity! This is true. But if you are upgrading to a larger home, the seller on the other end is in the same boat. And he stands to lose more than you will.

Here's what I mean:

Your Home's normal market value is $300,000. With a marketwide drop of 20%, it is worth currently in today's world, about $240,000.

Let's say that you and the spouse have been lusting after that newer contemporary home three streets over. You know the one with the circular drive-way and pool in the back. Home like that have been selling for about $500,000. You see that the home goes on the market for 20% less...$400,000.

In the scenario, you take a $60,000 hit and the other home owner takes a $100,000 hit. An instant equity GAIN OF $40,000.

 And some more good news is that interest rates are probably lower than when you bought your home a few years back. You may be able to get that home and pay a monthly mortgage that is just a few hundred dollars more than you are currently paying!

If you would like to learn more about how this can work for you. Call me in Atlanta at 404-213-3804.

Have a great day!