Great question. The truth is that, lately, the number of sales is quite a bit higher than the number of listings. Our inventory is shrinking and this is not a condition that leads to a lot of obvious deals.
So, where is the opportunity?
I think it is time to think about moving up to the next house! The conditions to move have never been better:
- We have the first EVER tax credit for move up buyers ($6500)
- Presumably your current home is in the lower price range, where there is high demand and multiple offers
- The “gap” between your current home’s value and your new homes purchase price has never been so small.
Truthfully, most of you Chitlins only fantasize about moving up. You’ll go only if “the right house comes along”. I am not talking to you. I am talking to the people who really need to move, but have put it off because the market is “bad”.
The market is great, but you need to be smart and you need to plan ahead. You can’t buy your dream home contingent on your current home selling. If that is a condition for moving, you are not going to move. Here are the questions you should ask:
- Why do I want to move?
- If I find my dream home, what am I willing to do?
- Is there any way I can buy without the sale of my home?
- Do I have an equity line, 401k, savings or short term loan from relatives?
- What do I want more- the ability to buy my dream home or the comfort/convenience of staying where I am?
If you would like to be in a position to strike while the iron is hot, call me for a consultation today.
**Tip** I e-mail a list of the best deals of the week every Friday. Click on the “E-Mail Updates” link on the right to get this letter!
Here’s a move up idea! Search Foreclosured Homes in La Canada!