If your house is getting a bit small, or if your income has reached the point where you can afford, and want, a luxury home, now is a fantastic time to go ahead with your plans. Why? Because in today’s market for luxury homes, the buyers are in control. In many parts of the country there are more luxury homes on the market than there is demand for them. Yes – it’s the old law of supply and demand.
These upscale homes are staying on the market longer, and you can usually find homes available at a discount.
Now when it comes to selling your old, smaller home, the demand for these homes is high. SO it’s the law of supply and demand in reverse. Many starter homes are commanding higher prices, and we quite often are seeing bidding wars. These buyers want to make your house theirs. And the monies from the sale of your old house will make a nice down payment on your luxury home.
Let’s summarize this. The best time to buy is when there is ample supply and little demand. The best time to sell is when there is little supply and high demand. If you’re looking to move up to a larger, nicer home it’s a great time to do so. Call us today to find out what your current home is worth in today’s market.