{"id":10159,"date":"2009-10-26T09:09:00","date_gmt":"2009-10-26T16:09:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=10159"},"modified":"2009-10-26T09:09:00","modified_gmt":"2009-10-26T16:09:00","slug":"7-things-every-home-buyer-should-know-part-2-dont-worry","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10159\/7-things-every-home-buyer-should-know-part-2-dont-worry\/","title":{"rendered":"7 Things Every Home Buyer Should Know &ndash; Part 2 &ndash; Don&rsquo;t Worry"},"content":{"rendered":"<p>Time to take a look at the second installment in the 7 things series.&#160;&#160; If you recall, last time, we looked at the fact that, in a rapidly changing market like we are, 6 months ago is ancient history.&#160;&#160;&#160; What someone paid 6 months ago\u2026\u2026 Well, just read about that at <a href=\"http:\/\/straighttalkaboutmortgages.com\/2009\/10\/17\/7-things-every-home-buyer-should-know-part-1\/\" target=\"_blank\">7 Things \u2013 Part 1.<\/a><\/p>\n<p>So what\u2019s Part 2 about?&#160;&#160; Here\u2019s what I wrote last time:<\/p>\n<p><em><strong>2. <a href=\"http:\/\/paul.kedrosky.com\/archives\/2008\/07\/23\/the_top_7_thing.html\" target=\"_blank\">Don&#8217;t worry so much about what you paid for your house.<\/a> Instead, look at the difference between what you can expect to sell your house for and what it&#8217;s going to cost you to buy the new one that you want. I expect you&#8217;ll find that those are much more important numbers (unless you end up without any equity, in which case you don&#8217;t sell).<\/strong><\/em><\/p>\n<p>There are a couple of things that I think still hold true and one big thing that I think doesn\u2019t hold true any more.&#160;&#160;&#160; First the things that hold true:<\/p>\n<ul>\n<li>If you are selling one home to buy another, the most important number is not what you paid for the existing home, the most important number is the difference between the two homes.&#160;&#160; If the value of your home has fallen by $40,000 but you\u2019re in a situation where you can buy a newer home with less maintenance and 1000 square foot bigger for a \u201cnet\u201d difference of $20,000, then it might very well be a good deal.&#160;&#160;&#160; <\/li>\n<li>If your family situation has changed (i.e. \u2013 We got married and are expecting our second set of twins in the last 2 years! \u2013 Yikes!) then what you paid for your house doesn\u2019t matter.&#160;&#160; I\u2019ve got a client who is negotiating on a house where the seller has to sell within the next three weeks but they are \u201chung up\u201d on what they paid for the house.&#160;&#160; If you need to do something, don\u2019t worry about what you paid for your house, just focus on what the financial and logistical aspects and make the move.&#160;&#160;&#160; I\u2019m working with <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10159\/7-things-every-home-buyer-should-know-part-2-dont-worry\/#more-10159\" class=\"more-link\">Read more<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Time to take a look at the second installment in the 7 things series.&#160;&#160; If you recall, last time, we looked at the fact that, in a rapidly changing market like we are, 6 months ago is ancient history.&#160;&#160;&#160; What someone paid 6 months ago\u2026\u2026 Well, just read about that at 7 Things \u2013 Part [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,5],"tags":[412,413,414],"class_list":{"0":"post-10159","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-real-estate","9":"tag-7-things-every-buyer-should-know","10":"tag-foreclosures","11":"tag-underwater-housing","13":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3466,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3466\/the-top-7-things-every-home-buyer-should-know\/","url_meta":{"origin":10159,"position":0},"title":"The Top 7 Things Every Home Buyer Should Know&#8230;..","author":"Tom Vanderwell","date":"July 23, 2008","format":false,"excerpt":"Okay, yesterday, I dealt with the theoretical and philosphical in our discussion of moral hazard.\u00a0\u00a0 Almost more of a topic for a college class than a blog about the mortgage world, don\u2019t you think? Well, today we\u2019re going to get more into the every day nitty gritty with the Top\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"https:\/\/straighttalkaboutmortgages.files.wordpress.com\/2008\/07\/30-year-fixed-historical-rate-trend.jpg?w=350&h=200&crop=1","width":350,"height":200},"classes":[]},{"id":10103,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10103\/7-things-every-home-buyer-should-know-part-1\/","url_meta":{"origin":10159,"position":1},"title":"7 Things Every Home Buyer Should Know &#8211; Part 1","author":"Tom Vanderwell","date":"October 19, 2009","format":false,"excerpt":"Here's what I wrote about item #1 on the list last time:6 months ago is ancient history. What your neighbor sold his house for 6 months ago doesn't matter.\u00a0\u00a0 What the seller was asking for the house 6 months ago doesn't matter.\u00a0\u00a0 What matters is what the market will support\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18324,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18324\/buyer-agency-project-buyer-agents-offer-no-value-today\/","url_meta":{"origin":10159,"position":2},"title":"Buyer Agency Project:  Buyer agents offer no value today.","author":"Brian Brady","date":"July 17, 2021","format":false,"excerpt":"\"I just showed three houses this week, out in L******, and all of them had 2% co-brokerage fees.\u00a0 Learn to sell, listing agents\" I read this post (paraphrased), from a former car salesman with a Florida real estate license, in a Facebook group the other day.\u00a0 The irony of it\u2026","rel":"","context":"In &quot;Disintermediation&quot;","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4872,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4872\/should-walmart-sell-real-estate\/","url_meta":{"origin":10159,"position":3},"title":"Should Walmart Sell Real Estate?","author":"Thomas Hall","date":"October 9, 2008","format":false,"excerpt":"It appears that Coldwell Banker may be following the Walmart approach to real estate pricing - recommending that sellers cut their home prices 10% across the board - not locally, but nationwide.\u00a0 I can't help but find the similarity to the McCain approach to cut government spending - simply freeze\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1743,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1743\/why-didnt-your-house-sell-price-preparation-presentation-and-availability\/","url_meta":{"origin":10159,"position":4},"title":"Why didn&#8217;t your house sell? Price, preparation, presentation &#8212; and availability","author":"Greg Swann","date":"August 4, 2007","format":false,"excerpt":"This is me from my column in the Arizona Republic (permanent link): \u00a0Why didn't your house sell? Price, preparation, presentation -- and availability So your house didn't sell. Now what? Six months ago -- or was it a year ago? -- the world was young and ripe for the picking.\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":650,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/650\/an-argument-for-dual-agency-%e2%80%93-part-1\/","url_meta":{"origin":10159,"position":5},"title":"Dual Agency Smack-Down: An Argument FOR Dual Agency &#8211; part 1","author":"Russell Shaw","date":"November 18, 2006","format":false,"excerpt":"This is a stupid subject. This is a necessary subject. There are a lot of different viewpoints on this subject. A lot of the viewpoints that seem to matter came from lawyers, court decisions (judges who are also lawyers), and other people who are also wrong. Back in the days\u2026","rel":"","context":"In &quot;Dual Agency&quot;","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=10159"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10159\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=10159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=10159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=10159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}