Buy now, sell later?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Plan for the worst and hope for the best. This is a reasonable course of action if you're planning to sell your current home and buy another one in the current market. There are good reasons to do so for some homeowners whose homes no longer work for them. Interest rates are lower than they were a year ago (hovering around 6 percent at the beginning of September 2008) and home prices have dropped in many places. In general, there are more homes to choose from. And, there's less competition from other prospective home buyers. This gives buyers more opportunity to negotiate. Trading homes in a soft market can be particularly advantageous for homeowners who want to trade up to a more expensive home. They may sell their current home for less than they would have a couple of years ago. But, they will probably pay less for the more expensive home. Price declines haven't been uniform across all price ranges. But, if prices in your area have declined approximately 10 percent since ...