We are in a Move Up Market!
A move up market occurs when prices are high and rates are still low - which perfectly describes our market this summer in the Salt Lake area.
If you are a buyer, now is the time to make that move you have been pondering before your dream home increases in price or the rates go up, possibly making a purchase out of reach.
For sellers, price appreciation is good news. 78.8% of homeowners have significant equity in their home, which means they can easily move into a better housing situation that fits their needs.
So why do most people choose to "move up"? Here are the top reasons homeowners make a move in real estate:
The starter home has gotten cramped
It's time to upgrade to a larger home with better finishes
Family and personal relationships dictate a larger living space
The grass is always greener in a nicer neighborhood
Job or school transfers make a move necessary
All that hard work in your home has gained equity and it's time to cash in. If you are unsure as to how much equity you have built in your home, don’t let
that be the reason you fail to move on to your dream home in 2017!
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