Bargains for Move-up Buyers

Bargains for Move-up Buyers

May 5, 2009
There's plenty of buzz right now about great deals on real estate, especially for first-time buyers. But move-up buyers can benefit, too. Brett Arends wrote in the Wall Street Journal Online on April 4 that "aggressive buyers are finding some simply terrific deals." With incredibly low fixed-rate financing, and lots of inventory to choose from, making a home purchase now is a great investment.

Move-up buyers need to do the math to determine the benefit of selling and buying in the current market. They can enjoy a net gain in value, even if they sell their smaller home for less than 2007 prices. In the Shenandoah Valley, homes priced under $200,000 are the most likely homes to sell quickly and at the asking price. And if inflation occurs over the next few years, as it is likely to do according to Arends, a home purchased with a 5% fixed-rate loan is a smart investment.