>Should I move up to a better home now?
Now is the time. While most properties have decreased in value, consider this scenario. You live in a home that was worth $150,000. and is now worth $135,000. You will notice that $15,000 of equity was lost. Now consider the home in which you might wish to live. It use to be worth $250,000. Now it has a value of $225,000. It has moved downward $25,000. If purchased you have benefited by $10,000. Eventually when property values recover your benefit will be $25,000 while if you stayed your recovery will be $15,000.
How would it work?
You may be thinking, that may be fine, but will my home sell? The answer is yes. Homes sell, even today, if priced correctly and advertised properly. The services of a highly skilled Realtor is required. This means pricing your home where it will attract the attention of a buyer. Does this mean that I have to sell at $135,00? Yes but the good news is you don’t have to accept an offer that is to low. Once you have accepted an offer you can go shopping. There are plenty of motivated sellers of properties. Your Realtor Buyer’s Agent will help you to get a fantastic buy on a home that you will enjoy.
What if the market doesn’t recover?
I don’t believe this. Which home would you enjoy living in for the next 10 years? Most people can get a mortgage at a lower interest rate for a new purchase than the one they currently have. Would you prefer to pay a lower interest rate long term? I believe that we will experience inflation at some period in the future. Inflation devalues the dollar. The only way the country can pay back its debt is to inflate the value of new products and services by deflated the value of the dollar. If this thesis holds true, your dollars value will decrease and your home value will increase.
Don’t wait. Now is the time.
Visit my website: http://www.gary-barker.com/
Submitted by: Gary Barker, Gary Barker Real Estate, PO Box 513, Bridgeton, NC 28519, (252) 635-1100