If you have heard enough of recent news media updates of the housing market, you might want to throw a pity party. Your house has been on the market for a while yet there is no contracts or even some possible interests. You were (at one point) looking forward to moving into your new home with your family. Yes, besides the housing situation, your life is just simply wonderful.

You held firm on your price. You **think that it is priced very attractively, given all the features your house has to offer. Unfortunately, what you **think and what the market (ie buyers) feel may not be in sync. Perhaps, that's the reason why you have not moved into your new "step-up" home.

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Consider this instead: You are moving up in house. Your current house of $250,000 (your opinion) could quickly be sold at $235,000. Yes, you "lose" that $15,000. But when you price your house in a more attractive price range, you get more interests quickly. Hence, a sale in the near horizon. Only when you sell, would you want to purchase another. That's what you told your Realtor®. You are looking in the $500,000 - $600,000 price range. And if you are shopping in the Dallas-Fort Worth area, this IS a hurting price range. There could be a possibility that you may find you a "steal" deal. Just like you need to take a hit on your price, so would your $600,000 seller. Because there is less buyers in this price range, you could take this to your advantage. The $600,000 could very well go for a little over $500,000.

So, yes, you might be taking a $15,000 "depressed" situation, but when you move up, your gain is more significant. Who knows, if you could get your new dream house for just over $500,000.

Note: Pricing Mentality: When your house is worth about $250,000, you are competing with others who also price it around the $250,000 range. Assuming that we are talking about the same general vicinity and similar year built, you could expect pretty similar features. Now, if you price your house at $235,000, buyers can see the "value". You truly have the $250,000 "features" yet you are $15,000 "below".

The same concept with the $600,000 homes. You could expect similar features, and other property parameters. But now, you are purchasing it in a depressed market for over $500,000. Can you see your "gain" versus your "loss" in your situation?

So, take that hit. Take the opportunity to move up. Interest rates have remain very attractive. You might find yourself in a great situation after all.

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I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me immediately.

It is a competitive market, hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.

Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY

loreena@loreenayeo.com

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Copyright © 2008 by Loreena Yeo (3:16 team REALTY). Move Up Buyers Take Advantage of Market Situation