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Mission De Los Arroyos Report Archive - January 2007

Now is the time to BUY!

Remember 2005? You might have been one of those people who said, "I'd love to sell my home, but I don't want to be a buyer in this crazy market." That was a good decision.

Let's say you own a 1294 square foot Sequoia and you sold it for market value at the height of the market at $252,000 and bought a new home. Based on data from the National Association of Realtors, buyers
typically go up 50% in value each time they buy. That means you would likely have purchased a home for $378,000.

Let's say today the fair market value of your Sequoia is now worth $235,000. Assuming the price of the new home you wanted to buy has dropped by the same percentage, it would be worth $352,500 now. The difference you would have paid in 2005 would have been $126,000 but today it would only be $117,500. So you're $8,500 better off buying today.

Take a look at the next article, "Real Estate Market Forecast for 2007," to decide where prices are going then call me. Let's find your dream home today.