Should you buy in a down market?

Some Should Sell IMMEDIATELY!

• If you are a seller who wants to move up to a more expensive home , now could be the best time. The longer you wait to sell, the lower the price of your home could fall.
• If you can arrange for alternate housing, a smart strategy is sell now, wait a few months, then buy your new home.

Home Much are You REALLY "Losing?"

For example, say your present house is worth $200,000 but because of high inventory and few buyers, you must reduce your price by 10%. So, instead of receiving $200,000, you would get $170,000 and "lose" $30,000.

Will You "Save" on Your New home?

If you are planning to move up to a $400,000 house located in the same  market, you could probably buy that house at that same 10% discount or $350,000. This would mean you had saved $50,000.

Can You Come Out Ahead?

1. So you "lost" $25,000 on the sale of your home
2. But you "made" $45,000 on the purchase of your new home
3. Doesn't that put you $20,000 ahead?

Don't Forget Interest Rates!

Are rates going up or down?  If interest rates are near an all-time low and beginning to go up waiting could cost you more than you would think.If you wait too long,  you might not be able to afford to buy a home at ANY price.