Updated: Jun 8, 2022
Want a new house but not sure if the t is for you? Many of today’s Gen r upeadingXers are moving out of their first homes and are tradtether it’s an increase in the size of the family, job, move, lifestyle, or just the desire need, and want for change, sometimes people just want to move.
Want a new house but not sure if the trade up is for you? Many of today’s Gen Xers are moving out of their first homes and are trading-up. Whether it’s an increase in the size of the family, job, move, lifestyle, or just the desire need and want for change, sometimes people just want to move.
If you think trading up is right for you, be sure to ask yourself these five important questions:
What is my home worth? Your Realtor will be more than happy to run a free analysis to help you determine what your home could sell for in today’s market. Just ask.
Why are you selling? Know your reasons why, as you might find as you pound the pavement in search of your new home, that the one you had all along was just fine! So before you put the time and energy into it, know your purpose.
What do you want in a home? What are the specific things you are looking for? More space, upgrades, location? Talk with your Realtor about your needs and wants and they can help you navigate your available options.
How much can you afford? A ten-minute conversation with your Lender will help you determine the price range you should be shopping in. Also, be sure to talk with your CPA or 1031 Tax professional to ensure you are capitalizing and following the necessary tax guidelines and requirements.
What is your timeline? The average days on market (DOM) is about 40 days right now. Know your timeline and how quickly you want this process to happen. The average closing can take up to about 60 days.
Trading up can be exciting! It’s a sign you are ready to advance to the next level of your goals. If you’re not sure if it’s right for you, contact your local Realtor and they’ll be happy to help you get started.
Jackson County Residential Statistics average sold prices:
NW Medford $215,000
East Medford $290,000
SW Medford $245,000
West Medford $183,500
Jackson County: $264,700 and prices up approximately 10.3% over last year.
*Data based on SOMLS Jan-Dec 2017 residential statistics on existing home sales.
Real Estate Broker, Licensed in the state of Oregon
Published March 18,
Shanon holds an MBA in International Business, loves writing in her “At Home with Shanon” column that has been delivered to 47,000+ homes in Medford since 2014, has appeared on the Real Estate Radio Show, and was also featured on A&E TV network’s Real Estate Reality TV show.