It’s Time to Trade Up

By Raymond Stoklosa · November 6th, 2008

Since Gary’s graphic got such a great response on Monday, here is another one to illustrate another important point about buying a new home in the San Mateo County buyer’s market.

You know that it’s a buyer’s market, but you’re not a first time home buyer. So, that means you are probably also going to have to sell your house in this market to trade up. Should you still do it?

Yes! As the graphic shows you, this is a perfect market for trading up. While your current home, which is at a lower price point, will take a hit when sold, it will only be comparable on a percentage scale. So, that means that the 5% you lost on the sale of your current home will be less than the 5% you saved in the purchase of your new home – making this the perfect market for trading up.

Trading Up in the San Mateo County Real Estate Market
From The Shift by Gary Keller