If I told you that putting your home up for sale now and receiving $20,000 to $30,000 less for your home than you would have received in 2004 was a sound financial move you would tell me "You're crazy!"
If you have a typical Macomb County first- time buyers home that is now bursting at the seams with additions to your family and all of their belongings you have probably moaned: "I can't sell now, the market is unstable and I should have done it 3-4 years ago when I could have gotten top dollar!" or "How can I purchase another home when I will take a loss on this home?"
Please take a step in another set of shoes for a few minutes. I'll call those shoes "Buyers Shoes". Here is the path your Buyers Shoes will take you on:
In 2004 the home that you truly desired was out of your price range and comfort zone at the time. You purchased your wonderful starter home as a typical first time home buyer in Macomb County did, with the desire to live in it a few years and build up equity before purchasing that dream home. The equity has suddenly shrunk or disappeared completely during this market downturn and the dream you had of purchasing the larger home for your growing family feels impossible.
It isn't impossible, in fact it couldn't be further from the truth. If you have some equity left, or no equity but a little bit of money tucked aside you still should be able to sell your home at current market values and not only realize a financial gain but own the dream home you want for your family.
While wearing your Buyers Shoes you will find that the same dream home that was at the high end of the market and out of reach financially is priced currently much much lower than what it was in 2004. The owners of those homes are experiencing the same downturn in market value as you are. That 2400 square foot home in Sterling Heights that was priced at $329,000 and above is now priced well under $300,000. If that home isn't, their neighbors home is.
I recently sold a darling home in Eastpointe that was worth approximately $135,000 in 2004. It sold within the last few months for $114,800. Yes, they were heartsick that it sold for much less than they anticipated. They were however overjoyed to find that the home that they envisioned owning in Grosse Pointe Park in 2004 and couldn't comfortably afford was now available at almost $100,000 lower than the State Equalized Value. These home sellers who in their eyes lost money on their first home purchased their dream home at a wonderful price and one their young family now have plenty of room to grow in and make memories in.
When all was said and done their seemingly financial loss was actually a huge gain for them financially and personally.
Please don't let the current market values frighten you away from obtaining your dream home. The housing market in Macomb County is abundant with wonderful bargains for you and your growing family.
Kris Wales - RE/MAX Advantage 1, Inc.
586-840-1876 (direct line)
A partner for your real estate needs serving
Metro Detroit home buyers and sellers.
Please visit: http://macombhomes.com
for an updated list of homes for sale or
email kwales@remax.net to discuss
your current homes market value.
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