It’s A Great Time To Buy And/Or Trade UP To A Larger Home!

Oct. 28, 2011 - PRLog -- Southeastern Michigan.  Our current real estate market provides just such opportunities that are being overlooked by many due to the emotional pain associated with the decrease in value of their homes, stated Maria McGuire Broker/Owner of Re/Max Advisors. When home values were consistently appreciating every year, we all felt great about the market and homeowners were more than willing to sell for a gain and buy a larger home.

But consider this example. Let’s turn back the clock five years and look at a young couple living in there first home having a value of say $200,000. As their family expands, they desire a larger home more accommodating to their lifestyle. Typically, they would move up to a home of approximately $350,000. In order to do so, they would have to invest an additional $150,000 in the form of a larger down payment or a larger mortgage.

Now let’s fast-forward to today’s market. That same family’s existing home has declined in value to approximately $140,000. Emotionally, that is a big hit! But the move up home of their dreams has also declined in value. Applying the same percentage of decline indicates that the move up home is now worth $245,000.

The key point here is that the difference in cash or debt required to accomplish this move has been reduced from $150,000 to $105,000! Financially, it is far easier for this couple to afford the home of their dreams in the current market than it was five years ago, even when the loss in value on their current home is factored in.

Many homeowners today are missing great opportunities because they are emotionally caught up in the loss in value of their own home. The best advice for move up buyers is to accept that loss and then more than make it up on the purchase of your dream home!

Maria McGuire provides no obligation over the phone market analysis,  to learn your home’s current market value. McGuire can also provide a link to the multiple listing service, so you can search your desired area at your convenience.

# # #

Maria McGuire is the Broker/Owner of Re/Max Advisors. Since 1989, she has helped thousands of families make their move, achieving entry into the prestigious Re/Max Platinum, Hall of Fame, and Lifetime Achievement clubs. Providing market evaluations and completing residential and commercial contract negotiations are her specialty. Maria is a Certified Distressed Property Expert (CDPE) specializing in assisting clients facing financial difficulties and guiding them through the short sale process. Maria is also a CIAS (Certified Investor Agent Specialist), helping investors increase their profits and CCIM (Certified Commercial Investment Member). CCIMs are recognized experts in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis. Maria has chosen a select team of professionals each working within their area of expertise, providing her clients with world-class service and meeting their needs resulting in referrals from her satisfied clients.