Are you thinking of moving to a bigger, nicer home? Has your income reached the point where you can now afford a bigger home in a nicer neighborhood? Then maybe it’s time to realize your dreams.
The real estate market works according to the laws of supply and demand. First let’s look at your existing home.
The demand for starter homes and moderate priced homes is high. Increased consumer confidence and a strong job market have many first time buyers realizing that if they don’t buy a home now, they’re going to remain behind the eight ball. We are finding the demand for these homes has caused the selling prices to increase. We are seeing multiple offers come in on these homes, and bidding wars are not uncommon. It’s very possible the equity you have built in your existing home would make a great down payment on that luxury home you’ve been dreaming of.
The reverse is also true when you’re looking to purchase that bigger home. There is a large supply of available homes on the market as the baby boomers sell the large family homes to move into the retirement communities. This oversupply of homes is causing the selling prices to decrease, and larger homes can often be had at a discount. Simply put – in many areas there are more luxury homes available than there are buyers.
So, we have a market where many buyers are looking to purchase a home like yours, and many sellers are hoping you’ll buy their home. Does this sound like it’s a great time to upgrade to the larger home you’ve been dreaming of?
Of course it is. Call us today to learn more about what your current home’s value may be.
