Selling & Buying in a Down Market
Buying in a down market can be an excellent time to make a move to a higher priced home. Example: your condo you purchased when you graduated from college has lost a little equity. But it is a great in town condo with super walkability so it has not lost as much as the neighborhood just a little further out with great schools and big yards. Now may be the perfect time to consider trading up. The condo example may have declined some in value but the bigger home in the suburbs has declined even more because of lack of relocation business this year. That home in the suburbs is a great deal and the price is down much more than the condo. Might it be a good time to take a “little loss” in the condo so you can realize the great price of the larger suburban home with the big yard and the net gain in the transaction? Think about it….