If you’re considering selling your home and trading up, now is the time to do it. Opportunity, as they say, is knocking.
Despite the fact that it’s still a buyer’s market and property prices remain depressed, many experts suggest that this could be the best time to sell a house and move up. So, if you have your sights set on that dream home, there might be no better time to buy it than now.
“Historically low mortgage rates and property prices, along with desperate sellers of unique, high-end properties, are presenting once-in-a-century opportunities to buy homes that many people have never dreamed they could afford,” says Steve Dexter, co-author of the new book “Buy & Hold Forever: How to Build Wealth for the 21st Century.”
In the book, Mr. Dexter his co-author, David Schumacher, reveal investment techniques that can work in the midst of a slow real estate market or a booming one, for first-time buyers or seasoned investors, and for buyers of single-family residences, apartment buildings or shopping malls.
“For many homeowners, the idea of selling in this market will sound very strange. But the strategy behind the idea is pretty simple: sell low and buy low. In this case, homeowners don’t lose anything. It’s almost a wash,” says Mr. Dexter. “The best time to trade up is when prices go down. When prices rise, it’s the worst.”
Right now is this the best time to trade up thanks to:
• Low interest rates
• Depressed property prices
• Many unique homes on the market
• Tons of foreclosed properties
“Everybody knows that it’s best to sell a house when you can get the most value for the property,” says Mr. Dexter. “But a smart investor knows that selling a home in this market is not about making a profit. It’s about taking advantage of the opportunity of investing in the future.”