NEW BLOG!

Interest rates will determine the direction of the market for homes selling between $400,000-$1,000,000. The overall trend of average sales prices for Downey and surrounding areas is still shooting upward even though we are below the all time high set in April of approx. $521,000. There’s a lot of speculation on the direction of the market. Some say it’s going to go down come January of 2018 and others say we are still 2 years out until we see a drop. The truth of the matter is that there is going to be a drop, we just don’t know how much longer it will take for that drop to take place.

We are finding that some home owners that are looking to upgrade are somewhat reluctant on putting their homes on the market because they reason that they cannot easily find a replacement property because they are too expensive. To those homeowners we say 2 things, “1. Since you are selling in a high market, you will have the buying power to purchase that higher price home, and 2. Anytime you upgrade to a larger home or to a better area, there will naturally be a higher payment on that upgrade unless you are bringing more to the table as far as down payment.” If you are simply applying the proceeds from the sale of your current home to the new purchase, be prepared for a higher payment. This of course applies if you are staying in the general vicinity of where you currently live. If you are moving to a completely different market where you are able to get a lot more for your dollar, then of course you can get an upgrade in square footage, lot and living space for possibly a lower monthly payment.

Let us know how we can serve you. It’s always best to know the numbers first so that you can make an informed decision. We can help you with that!

NEW BLOG!

Interest rates will determine the direction of the market for homes selling between $400,000-$1,000,000. The overall trend of average sales prices for Downey and surrounding areas is still shooting upward even though we are below the all time high set in April of approx. $521,000. There’s a lot of speculation on the direction of the market. Some say it’s going to go down come January of 2018 and others say we are still 2 years out until we see a drop. The truth of the matter is that there is going to be a drop, we just don’t know how much longer it will take for that drop to take place.

We are finding that some home owners that are looking to upgrade are somewhat reluctant on putting their homes on the market because they reason that they cannot easily find a replacement property because they are too expensive. To those homeowners we say 2 things, “1. Since you are selling in a high market, you will have the buying power to purchase that higher price home, and 2. Anytime you upgrade to a larger home or to a better area, there will naturally be a higher payment on that upgrade unless you are bringing more to the table as far as down payment.” If you are simply applying the proceeds from the sale of your current home to the new purchase, be prepared for a higher payment. This of course applies if you are staying in the general vicinity of where you currently live. If you are moving to a completely different market where you are able to get a lot more for your dollar, then of course you can get an upgrade in square footage, lot and living space for possibly a lower monthly payment.

Let us k now how we can serve you. It’s always best to know the numbers first so that you can make an informed decision. We can help you with that!