Getting Through Real Estate Spin

"There's never been a better time to buy or sell real estate."

You've heard it. Perhaps coming from a trusted friend in the industry. But you also read the headlines. And you know what your house could've sold for in 2007. So to you, then would've been a better time to sell, right?

We agree.

At Domain Real Estate, we're straight shooters. We're not going to spin this market to get you to make a decision you're going to regret. We want your trust and we won't get it by blowing smoke.

Here's our take on the market in a nutshell:

While there has been positive news recently, now is not the best time to sell real estate. If you're happy where you are, stay put. If you want another place and can afford two payments, get the other place. There is, however, at least one really good reason to sell in this market: So you can buy another home.

Allow me to explain:

Now is a great time to buy real estate. It's fantastic. It's like houses are on sale and nobody knows when the sale ends. There are still a lot of folks waiting for "rock bottom." Unfortunately, the nature of "rock bottom" dictates that once you know when it is, it's already past. That said, if you're looking to upgrade your home, now is the time.

Here's why. Higher end homes took the biggest hits when the market went south. Homes that sold for $500k at the peak, are now selling for $400k or less. However, homes that originally sold for $400k are now in the mid to low $300s. In other words, don't hold off selling that starter home to get back the twenty or thirty thousand you thought you had at the peak of the market. If you have the equity (this is key) to sell now, you'll more than make up for it on the upgrade.

And don't get me started on historically low interest rates. Not only are homes cheap, but so is money. Before you get too far into the process, be sure to talk over your options with a good lender (There are lots of them out there; I've been impressed with Shaun Stevenett and Zach Eastman).

Make sense? 

It's not a perfect post. There are plenty of things we didn't cover (short sales, foreclosures, to build or to buy existing, etc.). We'll save each of those for future postings.

For now, I hope you've gathered some useful information to use at dinner time. If you have any questions, comments, ideas for future blog entries, or need any help with any of your own real estate needs, please let us know. 

We're here to help.