Tampa Move Up Buyers – Upgrade NOW – Trade Up Market – Tampa Buyers Market Real Estate
I had an interesting discussion today with a customer interviewing us to list their home on Friday Their intention is to move to a larger home in a neighboring community/area after selling their current home. They clearly see it as a great opportunity to upgrade and get a larger/higher priced home for less than they could have a few years ago. There were some obstacles about their belief in the value of their home being considerably lower than what they seek though. It’s interesting that some sellers see the amazing market and the opportunity it is to upgrade and buy another home, but they seem to have the blinders on when it coems to figuring the value of their home.
This however is truly just relative. If the value of your home is less than what you want it to be, the value of the home you are buying is going to be less too (especially if purchasing in the same general real estate market). if you are selling to buy, this can be a great market as long as you look at the whole picture, and not just the picture of your sale.
This is important to note. A lot of our customers will not be able to take advantage of the current market, without selling their home. If they decide to wait to get a higher price for their home, there certainly going to pay a higher price on their purchase when the values go up across the board. Many can’t get the gain on the purchase, without selling due to stricter loan qualifications. There is certainly, for some, the option of keeping the home and renting it while buying another, etc. but make sure to look at all of the costs of renting it, scenarios, inconveniences, etc.
The Tampa Real Estate Market is definitely a buyer’s market. It’s an awesome opportunity to upgrade and take advantage of the market, as long as you come to the reality that you may not get as much as you want/think for your home but you’ll get it back and more when you buy……