Why not take the Plunge?

Another Day In Real Estate Paradise!

Well its Friday! And so many people are making that rush to get into a home before the Tax credit expires. If you are unfamiliar with the Tax Credit or when it is over please click the link bellow! As Buyers have come out of the woodwork to be a part of this we have seen a large drop in current inventory. If you are thinking about selling your home under $250,000 now is the time to get it listed. Think about it this way, You can sell your home fast! You may not make a huge profit but if you are looking at buying a larger more expensive home there are plenty of deals out there to be had (Just not under $250,000!) Here would be a good example, If a home was worth between $500,000 and $1,000,000 before our market crashed there is a real good chance you can get it for 20-50% of what it once was valued at. That would mean in a perfect scenario that a few years ago you really wanted that home that was $1,000,000 but you could only afford to purchase the $300,000 home you bought. Now your $300,000 home is only worth $250,000 and you owe around $250,000 on the home. If you can sell it for a small loss on the $250,000 you could go buy that $1,000,000 home for $500,000. That means you lost a little over $50,000 on your current home but you gained $500,000 in equity in your new home. I think this is a great opportunity that is not going to last long. If the market comes back (as all trends in Denver are pointing to it coming back fast, and already back in a lot of areas) you might get that $300,000 for your current home and you will expect to pay $700,000+ for that dream house you had been looking for. I hope this is good news for you and please comment on the Blog with any questions or other information!

Act fast! Homebuyer tax credit ends soon