Already on ArticleSlash?

Forgot your password? Sign Up

Buying and Selling in Today's Real Estate Market

Lee Keadle

Visitors: 212

Today's market benefits two groups of buyers: first-time buyers, and buyers moving up. It is an excellent market to buy, especially if you don't have a current home to sell. For this reason, we're seeing a lot of first-time home buyers opting to buy instead of rent. Since these first-time buyers are not having to make contingencies to sell a home before buying another, they are able to use that negotiating power elsewhere (price, for example).

Even if you have a home to sell, it's a very good time to move up. It may take a little while to sell your current home, and you won't get for it what you would have gotten even a year ago. But, remember that you'll also be paying considerably less for the home you'll buy if you're moving up. For example, let's say your current home is worth $250,000 on today's market. If you move up and find a larger or nicer home for, say $350,000, you'll be saving a lot of money in the long run by buying now. Depending on area, you're looking at a roughly 5-8% drop in prices for the past year. That percentage difference for savings is much higher for the more expensive house - in other words, that 5-8% loss in selling your house will be more than made up in buying a more expensive house now rather than later.

Many buyers are using this opportunity to move up, since prices in the next couple of months seem to be about as low as they're going to get. We've seen a lot of past clients coming back to us to move up, as well as buyers who have been sitting the fence waiting for prices to get as low as possible. This is a great time to buy with Charleston's strong buyers’ market.

In short, today's market is ideal for first-time home buyers and buyers looking to move up. On the other hand, it's not beneficial for buyers looking to downsize or liquidate assets. So, if you're considering downsizing, it would be better for you to wait until the market picks back up. Less than a year from now prices should be well on their way back up, and you should get considerably more money for your home than if you sold now.

Buyers can view all Charleston homes for sale on the MLS using our website, including Mt.Pleasant, SC homes !


Article Source:

Rate this Article: 
Why Buy Your First Home in Today's Real Estate Market?
Rated 4 / 5
based on 5 votes

Related Articles:

8 Easy Tips For Selling Real Estate Today!

by: Andrew Stratton (July 01, 2008) 
(Real Estate/Selling)

Selling Real Estate in Down Market

by: Prudence Wong (December 09, 2008) 
(Real Estate/Selling)

Strategies for Selling Real Estate in a Difficult Market

by: John Flash (December 21, 2011) 
(Real Estate/Real Estate Investment)

Selling Your Home in a Tough Real Estate Market

by: Andrew Stratton (July 01, 2008) 
(Real Estate/Selling)

Real Estate Investing Comes Down to Buying and Selling at the Right Time

by: Sal S Vannutini (October 06, 2008) 

Buying And Selling Barbados Real Estate Isn't a Bad Idea

by: Taylor White (July 12, 2012) 
(Finance/Estate Plan Trusts)

What You Need To Know If Buying Or Selling Macomb County MI Real Estate

by: Dan Ho (May 26, 2007) 
(Real Estate)

A business - Buying and selling of real estate property

by: Puneet Kathuria (April 22, 2011) 
(Real Estate/Commercial Property)

Overview of Today's Real Estate Market

by: Julia Vakulenko (July 11, 2008) 
(Real Estate/Buying)

Why Buy Your First Home in Today's Real Estate Market?

by: R.P. Brown (December 30, 2007) 
(Real Estate/Buying)