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Real Estate Information |
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Conditions Are Right For Buying The Higher Priced Home You'Ve Always Wanted
Higher interest rates and home prices in the past have kept home owners from purchasing larger homes. The current real estate market conditions, however, are encouraging for many home owners who want to "buy up" to higher priced homes with more to offer. If you are considering trading up for a larger and more expensive home, conditions for doing so couldn't get much better. Interest rates are the lowest they've been in two decades, and home prices in many regions are the most affordable they've been in years. You should consider a few factors before reaching a decision to trade up:
Obviously, you'll need to sell your current home before getting serious about trading up to a new one. A healthy real estate market indicates that you'll have little trouble selling your existing home. The national Association of Realtors reported in August that sales of existing single-family homes are rising steadily, especially among first-time buyers. Affordable home prices and low interest rates could make the starter home you purchase several years ago particularly attractive. If you can afford the up-front cost, you may want to consider switching the fixed-rate mortgage on your old house for an adjustable rate on a new one. This could allow you to trade up without increasing your monthly payments. The type of mortgage you choose also depends on how long you plan to stay in your new home. A good mortgage lender can advise you on whether a fixed-rate is an advantage is you're planning on staying for more than 10 years. A fixed-rate may be better for long term owners who don't want to worry about rising mortgage payments. Trading up may not be worth the move if you're planning on living in the new home for only a couple of years. You might have to stay three to five years for your house to appreciate enough to recoup the closing costs. Conditions for a move-up haven't been this good in many years, and you may not want to wait much longer to consider it. An experienced real estate broker can help you decide if buying a new house now is a good investment for you. About The Author W. Troy Swezey is the author of "CONDITIONS ARE RIGHT FOR BUYING THE HIGHER PRICED HOME YOU'VE ALWAYS WANTED." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net
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Real estate company Alexander & Baldwin set to go private Hawaii Public Radio Real Estate Transactions | Nov. 24-26, 2025 Republic-Times Rent Manager Earned Best Real Estate Software Product Award and Multiple Review Badges from G2 Platform PR Newswire Drake University, Griff II Secure Prime Real Estate on New MONOPOLY: Des Moines Edition Board Game Drake University Newsroom Florida Trend Real Estate News Florida Trend When athletes or movie stars needs a place to stay in S.F., these are the people they call The Business Journals Real estate pro rejoins Choice as senior VP Green Street News Finance Guru Dave Ramsey Puts Lavish Nashville Home Back Up for Rent—for a Bargain Price Realtor.com Prix Luxury Real Estate — Erect Your Palace Rockstar Games Construction begins on $36.4M conversion of former grocery store into housing - Crain's Grand Rapids Construction begins on $36.4M conversion of former grocery store into housing Crain's Grand Rapids NexPoint Real Estate Finance Closes Series B and Launches Series C Preferred Stock Offerings TradingView EXp Realty promotes 2 execs to new leadership positions Inman Real Estate News Middletown residents facing a proposed 32% real estate tax hike Bucks County Herald newspaper A look inside home of Palm Beach couple who sold house to Sylvester Stallone The Palm Beach Post It's been Christmas all year long at this metro Detroit mall — for not-so-jolly reasons Crain's Detroit Business Coldwell Banker American Homes opens newly built Mount Sinai office Long Island Business News Naples sees new $35M luxury beachfront villas debut Gulfshore Business Hyde Park student housing complex trades for $58 million Crain's Chicago Business |
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