Homeowners - "Moving on up"

When Northern Mason County started feeling the "Real Estate Pinch" it was well into our nations recession. Homes that were once valued at $315,000 quickly sold for $265,000. Acreage listings that had been bought in the height of the market have closed at under previously purchased prices. BUT in this recession there are a group of homeowners that have prospered from the economy. We are called the "Move on Up few".

Selling Real Estate is a tricky business, the ability to be successful is a moving target that Realtor's cope with in every market condition, and in this economy, we Realtors have found what works and what does not.

Buying Real Estate can also be tricky. One of the first questions that I ask my clients in our initial agent/client interview is: What is your Motivation for Selling/Buying? This question may come up a number of times during our home search and it is very easy to forget why you as a buyer are buying. One of my favorite answers came only two weeks ago. It was: Because we paid too much for the home we live in... My next question was: Then why do you want to buy an additional home? This young couples' answer was that they had overheard me trying to sell a "Move on Up"plan to their friends and they felt that with an additional child due this summer, they truly needed more space. This client knows the market conditions and is fully aware that they will take a loss on the sale of their current home. They have a stable job and a relatively good credit score, and their new plan is to come in with some funds to close the sale of their current home and purchase a larger home.

To end this blog sweetly, this young couple is bringing in $20,000 in cash (that they borrowed) to close the sale of their home without needing to accept a Short Sale. They are purchasing a home that is 8 years newer and on a larger lot. This new home has twice the square footage of their old home, and including the $20,000 loss they assumed on the sale of their previous home, they will actually owe the same amount of money as before this purchase and owe $300/month lower mortgage payments on this new home because of the amazing rates that are being offered today.

This system is called "Moving on up" and I can tell you honestly that this transaction would not have been possible two years ago... "when our market was so good"

Call and find out some facts about Real Estate. If you can tell us why you want to buy, Your local Realtor can show you how and what you can buy.