General Area in Alexandria>Question Details

Andrew, Both Buyer and Seller in Alexandria, VA

I bought my townhouse in 2005 in Alexandria, VA for 445K with 5% down. We want a bigger house in

Asked by Andrew, Alexandria, VA Tue Aug 19, 2008

anticipation of expanding our family. If we sell now we are going to have to accept a sale price of 400K. In the end, assuming 10K in closing costs, we will walk away without owing anything, but also not making anything. Does the fact that we can get a bigger house for cheaper now then if we wait for our townhouse to go back up offset the loss? Is it worth it to sell now?

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In general, as long as you are moving up in the size of your home and staying in the same vicinity you should do well, so your thinking is on track in that respect. The disadvantage right now is for those that are downsizing, because in general they have taken a similar percentage hit to a larger value home.

Currently in Alexandria City, there are 31 single family homes in the $400K-$600K range, while including Fairfax County with an Alexandria postal address adds another 179 possiblities. There are options out there for your growing family to explore.

Best of luck! If you have any more questions please feel free to drop us a line,

AJ Heidmann, ABR, CRS, e-PRO
Cell 703-474-1260 Fax 703-518-8314 Toll Free 877-727-3631
Coldwell Banker Residential Brokerage, Old Town Alexandria
0 votes Thank Flag Link Tue Aug 19, 2008
If you are buying and selling at the same time, you need not be concerned with market conditions. Buy low, sell low ... not a problem. Buy high, sell high ... not a problem. Sell high, buy low ... definitely not a problem.

Sell low, buy high ... big problem. In other words, if you do sell, don't wait to buy.
0 votes Thank Flag Link Tue Aug 19, 2008
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