Interesting concept.
If you already own and are thinking of trading up, a bad real estate market is good for you.
At least that’s what agent Rona Fischman thinks.
Suppose you own a condo that is worth $400,000 today, and want to buy a house that is worth $650,000 (spending $250,000 more.) Suppose, both markets were depressed equally at 5% last year; your condo was worth $420,000 and your next house $682,500. Last year, the same trade would have cost you $262,500, instead of $250,000.
So, for those of you who want to trade-up, the declining market is good news.
She has some great tips for buyers.
More: Timing your trade-up – By Rona Fischman, Boston Real Estate Blog Now, The Boston Globe
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