Buying or Selling a Home in a Down
Market
Research shows that
people usually buy a house that costs approximately 50 percent more than their
current home. So if, for example, your current home is worth $300K, you may be
wanting to upgrade to a $450K home. (Of course, these are just assumptions...you
should do the math on your specific situation.)
Assuming your local
market has dropped 5% in value, you will now pay $7,000 less overall for the
same house you may have purchased last year. So even if your current homes sales
price has dropped 5%, so has the new home price. So everything else being equal,
you may be better off (in this case $7000 better) when buying and selling in a
"down market."
Do the math!
Here in the
Houston/Sugar Land, Texas area,
it is a great time to buy a home! Interest rates are at
record lows (saving you money on the cost of your mortgage,
thus, monthly payments).
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Before
you start your search for a
home in Sugar Land (or anywhere in the Houston area),
you may want to take a look at the
MLS Houston
Neighborhood Map to learn which MLS
area in Sugar Land you want to search.
Helpful
Articles & Links
Why You Need a Sugar Land Realtor
(Sheila Cox!) On Your Side
**Required
to Know in Texas: Information About Brokerage Services &
Dual Agency
**Required
to Know in Texas: Who Pays the Real Estate Commission?
**Required
to Know in Texas: How To Get Dedicated Representation As a
Home Buyer?
List of
Sugar Land Area Vendors
Current Real Estate Market Statistics for Sugar Land, Texas
Buying or Selling a Home in a Down Market
Why
rent when you can buy?
Buying New vs. Resale Home
Home
Buyers: Learn What NOT To Do
Be Ready
to Buy
Learn about Energy Efficient homes and how to make yours
more efficient
Rankings of New Home Builders in Houston
Will Prior Foundation Repairs Effect a Home's Resale Value?
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