Special offer

Up-sizing in a Down Market

By
Real Estate Agent with RE/MAX Select

For the buyers who want to get a larger, more expensive home, the current economic climate can be a real scary place to be.  After all, they want to sell the current home and get a nice profit.  But then they find that they not only won't make a good profit, they will actually LOOSE MONEY!  They decide to wait until the market recovers and gives them a more positive sale.

So why is that all wrong?  Because they are waiting for houses to cost more.  Selling a smaller home and taking a loss may be the right thing to do.  The larger, more expensive home is also priced very low.  The amount they give up on the sale of the smaller home is more than made up for by the savings on the bigger one.

Don't wait until home prices get higher if your new home will cost more than the one you now own.  The rising tide floats all boats, they say.  Up-size now in a down market.

Posted by

John  

Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

John, This is great advice, as long as the seller has the cash to cover their current mortgage and still have a down payment on that new home. those that do are going to celebrate when the market turns. Great timing for a post like this.

Aug 16, 2011 04:32 PM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

John-This is such a tough concept to get people to understand. They hear it but there is just something in their subconsious that makes it hard for them to pull the trigger.

Aug 16, 2011 04:38 PM