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Math is your home selling friend. Especially when it's this simple!
This post is a re-blog from Ilona Matteson. It is an excellent post for both home buyers/sellers as well as real estate professionals. Think how the market and economy would improve if the media started doing stories like this. Lets get the word out.
Trust me, even if you are math challenged this information is easy to understand!  I was really good at math in school and now that I'm not practicing as much, I have to think about it a little more.  So, if you're like me, until you see these formulas, you're probably not putting much thought into this simple math.
Let's say you have some Sellers that are thinking of moving up but haven't quite made the commitment.  Perhaps this formula will help you.
If they're currently in a mortgage of about $250,000 at 6% interest their payment is about $1500. For a $1500 payment over 30 years with a 4.5% rate, they can now borrow $300,000. They can borrow $50,000 more and their P & I won't increase AT ALL!
If they're currently in a mortgage of about $500,000 at 6% interest their payment is about $3,000. For a $3,000 payment over 30 years with a 4.5% rate, they ... more

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