Checking The Pulse Of The Kansas City Real Estate Market

If you’re nearing retirement and wanting to sell your home and move into a retirement home, this is a tough time to sell. If you can’t afford your current house payments and need to sell your current home and buy a smaller home, I feel for you. In the latter situation, today’s lower interest rates will soften the blow. However it’s unlikely to help you overcome the net losses that will come with selling a larger home and buying a smaller one in today’s market. But there’s a perplexing paralysis by analysis with move-up buyers who are passing up what I believe in hindsight will prove to be opportunities of a lifetime.

There’s really is a serious disconnect that needs overcome or it’s going to take longer than it should to get out of our current real estate rut. There are a lot of home buyers who want to buy a home at a huge discount but refuse to sell their current home at today’s market value. It’s human nature to want to get a good deal when selling AND buying. But what buyers are missing is that they don’t have to win both the battle of selling and buying. We know we can get them a great deal when buying but that’s not enough for some sellers who can’t get over the hurdle of selling their home for less than what they feel it’s worth.

This thought process is certain to cost a lot of people a lot of money. There are more deals than ever in today’s real estate market and if you are a move-up buyer, waiting any period of time could cost you the deal of a lifetime. Selling a smaller home AT MARKET VALUE and then buying a new, larger, home AT MARKET VALUE has a positive net effect — due to buying larger when prices are at a discount. So many potential move-up buyers are so caught up in trying to win the selling battle that they are going to lose the war — and will live to regret not making the move when they could have moved up in a discount market and with such low interest rates.

Posted by Jason A. Brown