I was poking around over on Chris Lengquist's Kansas City Real Estate Investing blog reading his blog on 2007 and it got me to thinking! (Imagine that!)
We as REALTORS should be the mouthpiece for what the real estate industry.
You hear on the news that "oh the housing market is bad" and immediately prospective buyers/sellers think "Oh I shouldn't buy or sell a home now." That's ridiculous!
Yesterday in sales meeting they said that 30 year fixed rates were at 5.75%.. people are you listening? That is the lowest the rates have been in the last 2 years and 6 months.
What's wrong with this picture? Rates are down and people are still afraid to buy. Why?
If I can help you with your North Kansas City Real Estate needs or you have any questions you can call me or post them here.
2 comments:
Hey. Thanks for the plug. People will tell you that if they sell now they won't get their historical high. Well, that's okay. Really.
Think about it. You sell your house valued at $175,000 at a 5% discount to make sure it moves and you net $166,250 before all of your costs.
Then you turn around and buy another home at $250,000. But because you know the market is a little sticky and soft you offer them 10% below what they are asking and settle in at 7% below. So you pick up the house at $232,500.
Now do the math. You gave up $8,750 in equity to get your house sold quickly. BUT YOU BOUGHT THE NEXT HOUSE ABOUT $17,500 UNDER MARKET.
Are you following me here? :)
Hey. Thanks for the plug. People will tell you that if they sell now they won't get their historical high. Well, that's okay. Really.
Think about it. You sell your house valued at $175,000 at a 5% discount to make sure it moves and you net $166,250 before all of your costs.
Then you turn around and buy another home at $250,000. But because you know the market is a little sticky and soft you offer them 10% below what they are asking and settle in at 7% below. So you pick up the house at $232,500.
Now do the math. You gave up $8,750 in equity to get your house sold quickly. BUT YOU BOUGHT THE NEXT HOUSE ABOUT $17,500 UNDER MARKET.
People, are you following me here? :)
Post a Comment