Friday, February 03, 2006

Is It Good Time to Move?

Here's more on whether or not it's a good time to move right now. We hear that it's a good time alot from real estate agents, but is it really? Well, let's see. Let's say you own a home or condo worth about $500,000. On average, prices have slipped over the last 6 months or so by about 5%. That means that you could sell your home for about $475,000. Now, here's the reason you may not want to wait till your home regains that loss: The neighborhood that you'd like to buy in was worth about $800,000, but now it's selling for $760,000. So, instead of it costing you an additional $300,000 to make the move, it will only cost you an additional $285,000. Rates are still at historical lows and the inventory levels are sufficient to give you a few more choices than you may have had last year.

Now, this scenario isn't for everyone. The biggest reason it's a good time to move is because you have a need. Whether that need is lifestyle, needing a bigger home, or something else.


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