Sellers that want to be buyers of a larger home should proceed with process now. They have an opportunity to buy a bigger and better house now than they did 2 or 3 years ago. This is the time they should be looking to upgrade to the larger home from their starter house. They need to take advantage of the lower prices and great interest rate that are now available to get more for their money. Once they sell their starter home they will be in the best bargaining posistion and the power will be on their side.
When they move up to that larger home, it may be at or close to the same payments they have now, because of the low price and interest being low. Remember if a house that cost them $200,000 before went down 20% then the house that had cost $320,000 also went down 20% is at $266,000 with very low interest now. You have lost on the house you now own but 20% of say $200,000 is $40,000 but 20% of $500,000 is $100,000 which will give you a gain of $60,000 in purchasing.
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