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Real Estate
Eileen M. Day REALTOR
TRADE UP NOW!
Those homeowners who desire to trade up to a more expensive home are making a big economic mistake by waiting until the price of their present, smaller home goes up. Every day they wait will cost them more and more dollars. There has never been a more favorable time to trade up. It's strictly mathematics of the marketplace.
Suppose that prices in your area have fallen 5% in the past year. Yfour present home could have sold last year for $140,000 (example only). Today, you will have to sell for $133,000, yielding you $7,000 less than you planned. However, the bigger home (that you plan to buy), priced at $300,000 a year ago might now sell for $285,000, giving you a $15,000 discount on the new property.
The trade-up advantage could even be more substantial because in many soft market areas, prices on upper-end homes have lost more on a percentage basis-in some cases, double the decrease percentage wise. If there was ever a time to move up, that time is NOW I If there is anything we can do to help you in the field of real estate, please stop in at EILEEN M. DAY, Realtor, the Clopton House, Washington, Va., 22747. Phone 675-3033, We're here to help.
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