How To Be A Loser And Still Win In A Buyers Market

February 9th, 2008 categories: Real Estate News

Most people know they could lose equity if they decide to sell their home this year. How can we expect to sell our house for less than we bought it for? Or for less than what we could’ve sold it for 2 years ago?

I think people are afraid to make that move they were planning on for fear they will lose money!

I can understand that, I have said the same thing. “Wait until the market recovers.”

But let’s think outside the box. What are we comparing our house values to? Are we letting a perceived value effect our decision?

Then I sat down and did the math.

Let’s say the subject in mind is a house they paid $185,000 2 years ago(a example being this house for sale last year on Firebrick). Let’s say they want to move into a subdivision where the homes were priced at $350,000 last year.(example being in Meridian). They have $100,000 equity.
$355,900
-$100,000
__________
$255,900 needed!

But this year their house would only sell for 165,000!!!! That’s a lost of $20,000 of real money!! (not perceived or what we could’ve had)

The house in Meridian on Bonita Canyon, also had to come down and is now priced at $294,900. So now lets do the math

$294,900
– $80,000
________
$214,900

Wow what a deal!!!!!

Don’t let the nay sayers talk you out of making the move your family needs. There are deals like this in every price range.If you are thinking about moving the first thing you need to do is see a lender and find out what your limits are. Then see what your money can buy and price your house to sell!!!