Charlie Ragonesi Big Canoe Realestate's Blog: October 2008

Now is a great time to buy. But what if you own a home ?

With out a doubt this is one of the best buyers markets ever. The next time it may come around is,... who knows. The last buyers Market was in 1987. So it was 21 years ago. But what if you are selling a home and thinking about buying up? Is it a good move? Let's examine the details.

You may be wanting to move up for more room, more land, a better location to a job, better schools or a ton of reasons. So let's for the sake of the discussion say you are in a home today that is worth 175,000. Before you read further examine your job and your financial situation. If all looks good or stable you may proceed.

Now lets also assume you have some equity in the house, After all you were in it long enough to out grow it. You have seen a great house for 240,000. You have run the numbers and you can do it. But you say my house is worth 10 percent less !!! So your house is worth 17,500 less. Don't move !!!!! However the house you are looking at is also probably worth 10 percent less or 24,000. See the point ? If you are in the market to trade up just because you have a house to sell does not mean you cannot take advantage of the current situation. We do not live on percentages. We live on Dollars and Cents. In this case you traded a negative 17,500 for a 24000 bargain. In other words you are 6,500 better off.

Buying in the North Georgia Mountains. Let the pro's at All Mountain Realty work for you. Call us at 706 579 1098 or email us sales@allmtnrealty.com

 

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

We sell Homes                                                    

 

Comment balloon 2 commentsCharlie Ragonesi • October 20 2008 02:11PM
Now is a great time to buy. But what if you own a home
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