Moving up now more affordable than ever.

As our market starts to balance out the "Move up Gap" becomes better for those wanting to purchase their dream home. What is the "Move up Gap"? This is the difference in the price of your current home to what you will have to pay purchase your dream home.

Here is an example of how the gap is getting smaller and how it can benefit you. Our current market is starting to balance out which means prices are starting to stabilize as demands lessons. The higher end homes, (your dream home) will have a change in the market sooner than the average home. So if you own a home in the $250,000 price range but want to move up to the $500,000 range, now is an excellent time. If you had been looking to make that move in a stronger market you would be looking at cost of $250,000 ($500,000-$250,000) just as a purchase price.

Let's assume the market drops 2%, you then could make that move for $245,000 (current home value drops to $245,000-purchase of $490,000 which is 2% less $500,000) That would be if prices dropped equal but we all know that isnt the case and the affects of the market are felt in the higher end before the lower end. This example lowers your move up Gap by $5,000, but what if the demand was still strong in the lower end market?

Confused? It's pretty simple, sell high and buy low , which is what the current market indicates. WRA stats indicate that 62% of the buyers are in the 200,000 to 350,000 price range so demand is still strong for these homes, however over $450,000 to $700,000 the demand sits at 10%. ( Based on WRA April 2015 stats) so more than likely your home value has not dropped and the higher end dream home you've always wanted is now more affordable. Your "Move up Gap" might be10% better at the moment which will benefit you by thousands of dollars in savings.

There are numerous other factors, better selection of current homes, extemely attractive interest rates to name a few.

Now is the time to act as market conditions will not last.

If youre thinking you want to move up from your current home, give me a call and I would be happy to sit down with you to review your current situation in detail.

Doug Court is a professional sales associate with Re/max executives realty in Winnipeg, Manitoba, Canada He is been an award winning salesman since 1987.

Doug can be reached at 204-292-9090