If you’re thinking of moving up in a down real estate market it can make a lot of sense to sell rather than wait. There is never a better time to make a move up in real estate than when the market as a whole is down. Yes, you will probably not come out as well with the sale of your current home, but you will more than make up for it when it comes to buying your new home.
Let’s look at an example:
– Assume you own a $300,000 house and you’re ready for a $500,000 house. If the market is down 5% then unfortunately your current house is really only worth about $285,000 .
– Assuming that $500,000 house is also down 5%, then you’re buying that house for $475,000! You accept a $15,000 loss when you sell, but you make $25,000 when you buy!
But it gets better, every market has a “hot price range” and a “cooler price range” – or put differently, some price ranges are selling better than others.
If you are selling in a “hot price range” (in Seattle that is single family homes under $350k) and are buying in the “cooler” price ranges / higher price range (in Seattle that’s $500k+) you can take advantage of a great deal and moving up in this down market can work well for you.
If you are ready to take advantage of this down market to move up and get a great deal, contact us today.
Kerstin G. Brooks, ABR, Realtor
Brooks & Heinze Team at Remax Northwest
www.propertyinseattle.com
Kerstin G. Brooks, Broker 
This really answered my question, thank you!