If you have been thinking of moving to a more expensive home in another town this could be a great opportunity for you. Windsor prices have remained constant for the past 6 months while other surrounding towns have experienced significant drops. For example, if you were considering homes in Granby 6 months ago for $400,000 you could now purchase that same level of home for only $350,000 (priced in Granby have dropped 12.3% in the last 6 months). Likewise, $400,000 homes in Simsbury are now selling for $370,000 (prices down 7.4%) and in Avon for $385,000 (prices down 3.7%). And now since their are many more homes on the market you have a much wider selection.
Consider this:
1) By upgrading now you can save up to $50,000 or even more
2) There is a wider selection of homes on the market
3) Interest rates are still very low if you need financing
Just like the stock market, you never know when it has hit bottom until its on its way back up. The housing market is the same. No one knows if the local market will decrease much more (forget the national numbers you hear on the nightly news). If you are thinking of upgrading to a more expensive town, you may want to seize this opportunity.
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