THINKING "UP" IN A "DOWN" MARKET:

Some many times the media paints such "doom and glum" that we almost are afraid to even leave the house, let alone house shop.  Well, the good news is that it markets are like the weather, they are local.  It might be raining in Florida, but it is sunny in Centre County.  This is a very good time for Sellers and Buyers.  A Seller selling in a "soft" market might take 5% less on the sale, and if they are buying up make 5% on the purchase.  So, when buying up in a "soft' market, many times you end up ahead.  For example:

Seller's List Price:         $250,000                                    

Seller's Sale Price:        $240,000  (4% less)        Lost:    ($10,000)

Same Seller now a Buyer:

Selling Price:                 $375,000            

Purchase price:             $360,000                        Gained: $15,000

NET SAVINGS:                    $5,000  

Our local market, although "soft" as they say, it is not a bad time to buy or sell.