Who wins in a down ⤵️ market?
Whelp… homeowners may not want to hear this but Herron Todd White’s August property clock is out and we are now considered to be at the bottom of the market… don’t freak out just yet!
Ever heard the saying "every cloud has a silver lining"?
Well, it's especially true for the real estate market.
Sure, it's easy to be disheartened when property values dip, but here's the scoop: savvy sellers can actually come out on top even when the market's at the bottom of the cycle.
Less Competition: Fewer people list their homes during down cycles and given that there is always demand for housing in Postcode 3977, that means fewer properties for buyers to choose from. Does this mean you can go crazy and overprice your property? Sorry computer says no... Strategy matters even more in this market and we need to have a solid plan in place from Day 1 to get you the highest available price in an environment where money is not cheap to borrow.
Planning to move into a bigger place? The price gap between smaller and larger properties can shrink a lot in a down market. So, while you might sell your current home for less, you could snag your dream home at a much bigger discount. If we look at this way, if your current smaller home loses 5% in value, so does your bigger dream home. Now, let’s assume your current home was “worth” $650,000 and we knock 5% off that’s a “loss” of $32,500 BUT … your dream home was “worth” $950,000 and we knock 5% off that’s a "loss" of $47,500… and you’re ahead by 15,000 interest free dollars.
A down market doesn't mean you're down and out. With the right strategies we can help you navigate your way through this market to reach your property goals.
Looking to win in the down market?