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Spero Speropoulos
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About:
Who Is Spero?
This witty real estate agent is a true South-Sider! Spero was born and raised in the Chicago area. As a youth he attended Clara Barton ... show more
This witty real estate agent is a true South-Sider! Spero was born and raised in the Chicago area. As a youth he attended Clara Barton ... show more
Spero Speropoulos answered:
Hi Marcy,
When you buy a bigger home in a declining market you get a turbo charge from the market place. The easiest way to explain it is as follows:
If the market is down 10% and you live in a home that "should" get $200,000 you can expect to sell it for $180,000. YOU LOOSE $20,000.
You then go and buy a home that "should" sell for $300,000 you can expect to pay $270,000. YOU GAIN $30,000.
You Turbo Charged Gain is $10,000.
That is when going with the flow works in your favor.
Spero
When you buy a bigger home in a declining market you get a turbo charge from the market place. The easiest way to explain it is as follows:
If the market is down 10% and you live in a home that "should" get $200,000 you can expect to sell it for $180,000. YOU LOOSE $20,000.
You then go and buy a home that "should" sell for $300,000 you can expect to pay $270,000. YOU GAIN $30,000.
You Turbo Charged Gain is $10,000.
That is when going with the flow works in your favor.
Spero
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