Calling All Sellers: This ain't the Stock Market (Sell High and Buy Low). No this is the Housing Market. Stop Making the Compairisons. In the Housing Market you typically have two options (Forclosures and Distress Sales excluded).
1) SELL HIGH, then you have to BUY HIGH. If you are in a market that is taking off and hot, Then you are in a Sellers Market. If you go to sell your home, you will SELL HIGH. Likely if you are selling then you are going to Buy. If you are Buying in a Hot Market you are going to BUY HIGH!!
Example" Sell your $200K home at a 10% premium ($220K) then you just made $20K on the Sell of your home, but then you have to buy that $300K home at a 10% premium ($330K) so you paid $30K over the market Value. Looks Like you just Lost $10K...Again we are programmed to SELL HIGH and BUY HIGH.
2) SELL LOW, then you get to BUY LOW. If you are in a market that is slow and average time on market 
in 8-12 months or longer, then you are in a Buyers Market. So if you are going to Sell you home in a Buyers market, you will SELL LOW, but you also get to BUY LOW. There are bargains out there to be had, but you just have to be willing to take a hit on your side (SELL LOW) to make it up on the buy side (BUY LOW). Here is the Issue with too many sellers right now, they all still want to SELL HIGH and BUY LOW. This is just not the market we are in right now. We have to recognize this.
Example: Sell your $200K Home at 10% off ($180) and you loose $20K. But you get to Buy that $300K home at 10% off and you just saved $30K. Looks like you are now $10K to the Positive. How great is this. Time to make up mind and get out of your home and move on.
Have a Great New Year!! Here is to a Prosperous and Healthy 2009!!
If you are interested in selling or buying the Triangle NC market (Raleigh, Cary, Apex, Holly Springs, Fuquay Varina, Wake Forest, etc) please give me a call. Check out our website www.Triangle-NC.com to see out unique Buyers Cash Back Program.
Brian Wray
Wray Realty
919-880-4188
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