Worried about selling in this market?
Remember you sell in the same market you buy in!!!
Let’s see your options:
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Your house was worth $200,000 and has depreciated at 10%. $200,000 x 10%= $20,000
Your house is now worth $180,000 so you lost $20,000
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Seems bad… but you want to move up at the same time.
Possible buying: $400,000 and has depreciated at 10%. $400,000 x 10%= $40,000
The home you want to buy is now $360,000 a $40,000 gain
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Gain due to buying: $40,000
Loss at selling: -$20,000
Overall gain: $20,000
Most people think it’s a bad idea to sell in a buyer’s market. It all depends on what you want to do after the sale. For those wanting to move up to a bigger or more expensive home the time couldn’t be better.
