Home Buying > The Move Up Home Buyer Strategy

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If you have heard enough of recent news media updates of the Frisco Texas home market, you might want to throw yourself a pity party. Your Frisco TX home has been on the market for a while, yet there is no contracts or even possible interests. You were (at one point) looking forward to moving into your new home with your family. Yes, besides the Frisco TX housing situation, your life is just simply wonderful.

You held firm on your selling price. You **think that it is priced very attractively, given all the features your Frisco TX home has to offer. Unfortunately, what you **think and what the market (ie the Frisco TX home buyers) feel may not be in sync. Perhaps, that's the reason why you have not moved into your new "step-up" home.

Could you consider this instead? You are moving up in your Frisco TX home. Your current house of $250,000 (your opinion) could quickly be sold at $235,000. Yes, you "lose" that $15,000 that you originally wanted. But when you price your Frisco TX home in a more attractive price range, you might get more interests quickly. Hence, a pending sale in the near horizon. Only when you sell, would you want to purchase another. That's what you told your Realtor®. You are looking in the $500,000 - $600,000 price range. And if you are shopping in the Frisco TX real estate, this IS a hurting price range. There could be a possibility that you may find you a "steal" deal. Just like you need to take a hit on your price, so would your $600,000 seller. Because there is less buyers in this price range, you could take this to your advantage. The $600,000 could very well go for a little over $500,000.

So, yes, you might be taking a $15,000 "depressed" situation, but when you move up, your gain is more significant. Who knows, if you could get your new dream house for just over $500,000.

Note: Pricing Mentality: When your house is worth about $250,000, you are competing with others who also price it around the $250,000 range. Assuming that we are talking about the same general vicinity and similar year built, you could expect pretty similar features. Now, if you price your house at $235,000, buyers can see the "value". You truly have the $250,000 "features" yet you are $15,000 "below".

The same concept with the $600,000 homes. You could expect similar features, and other property parameters. But now, you are purchasing it in a depressed market for over $500,000. Can you see your "gain" versus your "loss" in your situation?

So, take that hit. Take the opportunity to move up. Interest rates have remain very attractive. You might find yourself in a great situation after all.

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