Upsize My House!

By
Real Estate Agent with RE/MAX North Associates

OK, so the market isn't turning over as rapid as it has been in the past!  Big deal!  Let's take a look at the bigger picture.  We have lots of buyer's inventory.  The interest rate is still hovering in the lowest range it has been for the last 20 years or so (somewhere between 5-6% interest rate for a 30 year mortgage).  Buyers quit waiting for it to be a better time to buy!!!  You've got a line of every type and shape of house on the market.  Sellers are very motivated to get their homes sold so get qualified for a home loan, go looking, and make an offer.  But please be serious about making that offer so you don't waste your Realtor's time.  You will get a little discount but not pennies on the dollar!  At least not in Texas anyway!  If you wait much longer, you will miss the boat all together and we will be on the way back to a seller's market. 

If you have a smaller house to sell and are trying to get a bigger one for about the same money, this would be the best time to go for it.  You still might take a little hit on your sale but you will more than gain it back on the house you are buying at a lower amount than the normal market.  The market always swings back to normal and get back to a stability mode.  Also if you watch the studies done particularly in Texas by the Texas A & M University real estate group, we are still gaining at least somewhere between 2.5-5% appreciation a year (even with it being a little slower than usual.)  So why are you waiting to put in your order to "Upsize" My House? 

Comments (3)

Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
It is not good to miss the boat!  Upsizing in this market is getting the most for your dollar!
Mar 26, 2008 07:44 AM
Anonymous
small fry

LOL -  wow what a difference a year makes... Is the market back to "normal" yet?  i think not....

and yes you can get pennies on the dollar...

Jan 27, 2009 03:09 AM
#2
Suzy Flute
RE/MAX North Associates - Denton, TX

Yes, the market is no where near 'normal', but the housing market is always the first to recover. The North Texas area is still somewhat immune to a lot of the swings other markets have been experiencing.  There are some deals to be had but we are still a long way from bottoming out.  Our transactions have tripled and quadrupled in this past month and I actually saw a positive news report yesterday evening.  Housing transactions are picking up.  The interests rates are too low to ignore and amazingly, there are a lot of very good buyers popping that have good credit and stable jobs that are willing to purchase.  Overall, I still think the market will recover in about the next year to year and half.  All the indicators and experts (even economists) in every area are saying the same thing.  So sorry, "small fry" that you are having a negative experience right now but I think the market is going to swing at some point as it always does if you follow trends.  You have to be ready for that swing or be left in the dust.  And I see more opportunity in the houses that have gone into foreclosure and some of those are really good deals for buyers to buy under market and still make the repairs on them and be able to sell them at a profit when the market returns to an even keel.  It's all the perspective of what you'd like to look at.  If you stay negative, you are just perpetuating what media people want you to. 

Jan 27, 2009 04:17 AM