A Naperville Buyers Market is a Trading Up Market
I’ve had quite a few conversations in the last few weeks with Naperville homeowners that want to sell their home. They don’t want to take a loss on their home but still want to take advantage of the super low interest rates and low prices of other Naperville real estate.
I pointed out that when you are moving up in a market like this you are most likely gaining equity. I tried to illustrate it using the diagram below.
You can see that while both your “current” home and your “future” home both fell in value by “X%”, the Trading Up home fell by MORE in actual dollars resulting in a net equity gain when you trade up. Tie that in with mortgage interest rates BELOW 5% and you will see THOUSANDS of dollars of additional equity and principle payoff in the outyears.
Karen and I can produce a specific example based on your situation. Just ask!
Rich and Karen Ayers are licensed Real Estate Brokers in Illinois. We are experienced Brokers who specialize in Residential and Investment real estate in Naperville, Oswego, Plainfield and the surrounding suburbs of Chicago. We also own and manage multiple investment properties and help real estate investors find, buy, fix, rent and sell their investments. Visit our website at www.AyersTeam.com or receive our blog via your RSS Feed or in your email.
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