Are you considering a move up?
If you’ve been considering a move into a more expensive home, then moving up in a down market might be a good option for you. Imagine that your current home valued at $300,000 declines in value by 5% and is now worth only $285,000. If there is another home valued at $500,000, and it also declines in value 5%, then it would now be worth only $475,000. Even though you may have “lost” $15,000 on your current home, a home that you could “move up” into will have lost $25,000. During this “move up” you have essentially gained $10,000 by the overall decline in the market.