Let's say home prices have dropped 15% and you own a small home that was worth $300,000, and now it is work $255,000, meaning you lost $45,000. But when you purchase your large home that may have been work $500,000 and your paying 15% less, you are now saving 15% or $75,000. So when you go from small to large in a market like this then, yes this is a good time to sell and buy because whatever you may lose on the sale of your small home, you should more than gain in the purchase of the large home.

Before you do anything make sure you will qualify for the loan on the larger home.

Hi Jessica:

If you are not upside down and you need to sell or you want to sell and possibly purchase another home, then selling is an option. The answer is in your reason for moving. In my opinion if you can keep your home and rent it that might even be a better answer because the wealth in our country has historically been in owning real estate. I would love to be able to help provide you with information to help you make the best determination for you. Just give me a call or drop me an e-mail

Diana 909-945-5763