{"id":1054,"date":"2007-02-19T00:02:20","date_gmt":"2007-02-19T07:02:20","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1054"},"modified":"2007-02-19T00:08:34","modified_gmt":"2007-02-19T07:08:34","slug":"is-now-the-time-to-move-up","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1054\/is-now-the-time-to-move-up\/","title":{"rendered":"Is Now The Time To Move Up?"},"content":{"rendered":"

Nicole writes:<\/p>\n

We have a great, 6 bedroom house in Gilbert. I’ve found a “perfect” (floorplan and upgrade-wise), new-build in Mesa with more square footage and a marginally bigger lot. We figure we could sell our house for perhaps over the price of the new place. My husband is hesitant because he thinks our current house will not sell in this slowed housing market. I say now is the time to move up. What do you think? -Nicole<\/em><\/p><\/blockquote>\n

Based on the facts presented, I think that I am going to agree with your husband.<\/p>\n

Are interest rates (historically speaking) quite low? Yes. If one was going to buy a home in the near future in the Phoenix area, would now be better than later? Again, yes. But part of your question includes the concept of selling your present home for a price equal to or greater than what the new home would cost. Unless you planned on paying MORE per month or more out of pocket it does not look like you can make the move at this time. The data you’ve provided is quite limited but you have also included that you like the new home more than you like your present home. So … it looks like the price range you are thinking your present home will actually sell in is not correct. If the new home is somehow “better” than the one you are in then it<\/em> will sell for more than the house you are in now. The only way this would not be true is if you are making a significant trade down in the quality of the neighborhood. This does not even take into account that your closing costs, buying and selling with commission will be at least 10%. Which would mean that if your current home was worth the same price as the house you were buying you would still need to come up that amount in cash or wind up with a loan that was at least 10% more than the one you have now.<\/p>\n

I’m not trying to stop you from getting what you want, just Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nicole writes: We have a great, 6 bedroom house in Gilbert. I’ve found a “perfect” (floorplan and upgrade-wise), new-build in Mesa with more square footage and a marginally bigger lot. We figure we could sell our house for perhaps over the price of the new place. My husband is hesitant because he thinks our current […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_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":"","jetpack_post_was_ever_published":false},"categories":[12,5],"tags":[],"class_list":{"0":"post-1054","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6776,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6776\/ask-the-bloodhounds-what-are-your-top-recommendations-for-a-realtor-just-starting-out-in-todays-market\/","url_meta":{"origin":1054,"position":0},"title":"Ask the Bloodhounds: “What are your top recommendations for a Realtor just starting out in today’s market?”","author":"Greg Swann","date":"January 31, 2009","format":false,"excerpt":"An email from Nicole Ford, a newer agent working on the Gulf coast of Texas:Hi Greg, \u00a0 I'm a new agent (started in July)\u00a0and have recently started reading the Bloodhound Blog. First, I want to say thank you for providing such an incredible resource. Second, I have a question that\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4844,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4844\/does-your-home-equity-have-4-wheels\/","url_meta":{"origin":1054,"position":1},"title":"Does Your Home Equity Have 4 Wheels?","author":"Thomas Hall","date":"October 7, 2008","format":false,"excerpt":"I received a call the other day from a young couple wanting to take a look at my new construction project.\u00a0 Because the building is starting to look more and more like a building, I recommended that they meet me at the site so we could walk through the units\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3030,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3030\/the-challenge-for-realtors-and-lenders-in-the-future-how-do-you-sell-to-consumers-who-dont-want-to-be-sold\/","url_meta":{"origin":1054,"position":2},"title":"The challenge for Realtors and lenders in the future: How do you sell to consumers who don’t want to be sold?","author":"Greg Swann","date":"April 27, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). The lender in the story? Brian Brady, America's #1 Mortgage Broker. \u00a0The challenge for Realtors and lenders in the future: How do you sell to consumers who don't want to be sold? We represented a cute couple\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2197,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2197\/dont-be-like-the-part-timer-queen-youre-embarassing-to-the-industry\/","url_meta":{"origin":1054,"position":3},"title":"Don’t Be Like The Part Timer Queen- You’re Embarassing To The Industry!","author":"Lani Anglin","date":"November 9, 2007","format":false,"excerpt":"The line was\u00a0only two people deep\u00a0at the UPS Store the other day but it seemed to take forever!\u00a0 I had simply made four copies and wanted nothing more than to slap a dollar on the counter, holler \"keep the change, no receipt, thank you\" and walk out.\u00a0 Here in Austin,\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1327,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1327\/when-banks-are-permitted-to-competethe-consumer-might-just-win\/","url_meta":{"origin":1054,"position":4},"title":"When Banks Are Permitted to Compete…The Consumer Might Just Win","author":"Brian Brady","date":"April 21, 2007","format":false,"excerpt":"In Southern California, many loan originators are licensed by the Department of Real Estate. 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