Right now has been a good time for investors and I have been working with a lot of them; but another group of people that should be looking to buy at this time is Move Up Buyers. There is one general qualification to be a move up buyer at this time:
Have equity in your current home. The entire concept of moving up means selling one home and buying a bigger/better home. You might short sale without missing a payment (very hard to do) and buy right away, or maybe you can afford to move without selling the old home. But Having Equity in your current home is the most common way.
(Photo by Shawn Perez at Flickr)
Here are the reasons now is a good time to move up:
- Smaller homes often purchased by first time buyers are hot! Investors want them and people with a scaled back income want them. If you have a 3 or 4 bedroom home with 2 bathrooms and a two car gargage you are the prettiest girl at the dance right now. When the home is not a bank owned or short sale it is even more popular as it is viewed as easier to work with and assumed to be generally in better shape. (But don't get too greedy on the price.)
- Bigger homes are much cheaper (in general) on a SF or unit cost basis. This is generally true. What I have always said is houses are like popcorn, you can get a lot more for just a little more money. Well right now there is big price compression going on.
- Interest rates are incredibly low and you may get a better loan on the purchase of a new home than your old loan. You might even end up with a smaller payment. Or better yet you can take some of the equity, move up and take some more of the equity and put 10% on an investment property with an immediate positive cash flow.
You might not get as much as you think you should on the sale of your home; but remember it is better to sell low and buy low than sell high and buy high when it comes to real estate.
Why Home Point Real Estate?
Home Point Real Estate is your partner in Buying a Home (Free MLS Access to Search for Homes) or Selling a Home (Get a Free on Line Home Evaluation). We are a Leading Internet Real Estate Company with the tools to meet the modern online Real Estate world combined with Traditional and Personal Customer Service.
Where is Home Point Real Estate?
Home Point Real Estate is Located in the East Contra Costa County community of Brentwood we also provide service to Discovery Bay, Antioch, Oakley, and Pittsburg. Click on the Community to see Homes For Sale Now.
Does Home Point Real Estate Handle Bank Owned Homes?
Yes! Go Here to: Get the Free Bank Owned Homes Buying Guide and Get a Free List of Bank Owned Homes.
What if I am in Foreclosure, having Mortgage Trouble, or Want to Short Sale my Home?
Home Point Real Estate is the company for you! Contact Home Point Real Estate and request a Free Consultation with a certifies SFR (Short Sale and Foreclosure Resource) to see if there is a way to save your Home or to do a Short Sale and help Save Your Credit. Get the Free Short Sale information Report for Buyers and Sellers too. Click Now for Short Sale Information and Free SFR Consultation.
Can Home Point Real Estate Help me with Real Estate Investments?
Get The Free Book of Real Estate Investing from Home Point Real Estate along with the Free Investor Calculator. This Book covers complex investing concepts in any easy to read manner with plenty of examples. Including Tax Issues, How to Evaluate an Investment Property, and more.
Make Home Point Real Estate your Partner in Real Estate Success – Call Now 925-260-4321
